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Ex-Worth Avenue jeweler sells Palm Beach home for $9M

Non-waterfront house hit the market in 2015 for nearly $12M, reduced to $10M in November
By Katherine Kallergis | May 15, 2017 12:00PM

434 Seaspray Avenue. Inset: Christopher Kaufmann

A former Worth Avenue jeweler accused of running a “deceptive consignment scheme” last year just sold his Palm Beach house to a company tied to a commercial real estate firm for $8.93 million, property records show. 

Andrea and Christopher Kaufmann sold the home at 434 Seaspray Avenue to Seaspray Owner LLC, an affiliate of Woburn, Massachusetts-based Eastern Real Estate.

Christopher Kaufmann shut his store down after Attorney General Pam Bondi filed a complaint in September over “deceptive and unfair business practices” tied to claims that he stole jewelry from his clients, didn’t pay them for the sale or paid them the wrong amounts. Bondi requested that Kaufmann be banned forever from consigning jewelry in the state, and pay restitution and civil penalties, according to the Palm Beach Post. The newspaper reported at the time that at least 17 consumers were owed a combined $554,000, according to the complaint.

Property records show the Kaufmanns paid $2 million for their Palm Beach house in 2000. The 7,469-square-foot home sits on a non-waterfront half-acre lot with a pool and spa. The property was built in 1925. It hit the market in 2015 for nearly $12 million, and was reduced to nearly $10 million in November, according to Realtor.com.

The buyer is controlled by Eastern Real Estate principal Brian Kelly. The firm handles capital investment, development and asset management, according to its website.

Just last week, ex-art gallery owner Arij Gasiunasen sold his Palm Beach home at 260 Clark Avenue for $5.72 million. Gasiunasen shuttered his Worth Avenue business after former clients of his sued him, claiming Gasiunasen failed to pay for consigned art, according to published reports.