Hedge funder pays $8.75M for contemporary home in Palm Beach

The 5,265 sf house traded for about $1,662 psf

125 Chateaux Drive Inset: Dan Floersheimer
125 Chateaux Drive Inset: Dan Floersheimer

Dan Floersheimer, president of Greenwich, Connecticut-based hedge fund and private equity firm Augmentum Advisors, just paid $8.75 million for a Palm Beach home, property records show.

The 5,265-square-foot, contemporary home at 125 Chateaux Drive traded for about $1,662 per square foot. The hedge funder bought the home through a trust in his name.

Records show art collector couple Marvin and Baylie Rosenberg sold the house. Baylie, an agent with One Sotheby’s International Realty, had the listing – along with One Sotheby’s International Realty’s Cristina Condon.

The home first hit the market in 2015 and was listed for as high as $13.95 million, Condon said. The home, built in 1981, was on and off the market for about two years.

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The six-bedroom, six-bathroom and two-half-bathroom home features a newly built kitchen, Italian marble floors, floor-to-ceiling windows and a three-car garage. Outdoor features include a tennis court, a cobalt blue-tiled swimming pool with a heated Jacuzzi and deeded beach access.

The home was designed by New Jersey architect Milton Klein. Klein also designed a nearby contemporary mansion at 900 North Lake Way, which sold for $25.5 million in May 2016, one of the top South Florida home sales in 2016.

Floersheimer joins a number of billionaires and multimillionaires who live in the tony town of Palm Beach, including fashion designer Tommy Hilfiger, billionaire real estate investor Frank McCourt and billionaire hedge funder Ken Griffin.