New York financial adviser picks up Palm Beach home of Stephen Ross’ uncle for $5.3M

Miami /
Apr.April 24, 2017 10:45 AM

A New York financial adviser paid $5.3 million for a guest house belonging to the late Marjorie and Max Fisher, aunt and uncle to developer and Miami Dolphins owner Stephen Ross. 

Property records show James Freeman, founder and chair of Freeman & Co., and his wife Laura Lofaro Freeman bought the home at 931 North Lake Way from a trust in Marjorie Fisher’s name. The six-bedroom, 7,500-square-foot house was built in 1996 and sold for slightly more than $700 per square foot.

It was listed for $6.2 million with the Corcoran Group’s Jim McCann, Suzanne Frisbie and Allison Wren. Ashley Copeland of Brown Harris Stevens represented the Freemans.

The Fishers were both philanthropists. Max Fisher, Ross’ uncle, made his money in real estate and oil and later became an adviser to a number of Republican presidents. Fisher financed Ross’ higher education, although he paid him back, according to a profile of Ross in the University of Michigan’s Ross School of Business.

In 2005, the year Max Fisher died, he ranked as the oldest member of the Forbes 100 with a net worth of $775 million. Marjorie Fisher died in June, and both of their Palm Beach homes hit the market months later for a combined $26 million.

The other property, at 920 North Lake Way, was reduced from $19.95 million to $16.5 million in February. It’s now under contract, according to the Palm Beach Daily News. It has about 10,500 square feet. [Palm Beach Daily News] – Katherine Kallergis


Related Articles

arrow_forward_ios
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
Todd Glaser with aerial view of 870 South Ocean Boulevard in Palm Beach. (Google Maps, Mary Beth Koeth)
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
320 Island Road, Palm Beach (Google Maps)
Payday lender CEO buys Palm Beach house for $26M
Payday lender CEO buys Palm Beach house for $26M
W. Allan Jones & 326 Via Linda, Palm Beach (Wikimedia Commons, Google Maps)
Cash king sells waterfront Palm Beach home for $27M
Cash king sells waterfront Palm Beach home for $27M
535 North County Road (Palm Beach Property Appraiser)
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Judith Ripka Berk and Ronald Berk with 273 Tangier Avenue, Palm Beach (Getty, Google Maps, iStock)
Must be a gem: Luxury jewelry designer Judith Ripka sells Palm Beach home for $13M
Must be a gem: Luxury jewelry designer Judith Ripka sells Palm Beach home for $13M
President Donald Trump with Melania Trump and Mar-a-Lago (Getty)
Florida representative wants Mar-a-Lago shut down following maskless NYE party
Florida representative wants Mar-a-Lago shut down following maskless NYE party
Eduard de Guardiola with 235 Via Vizcaya (Vista Realty, Premier Estate Properties/Realtor)
Atlanta real estate investor sells waterfront Palm Beach house for $18M
Atlanta real estate investor sells waterfront Palm Beach house for $18M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...