Entity tied to Liechtenstein firm buys waterfront Palm Beach home

8,450 sf home sold for $20.5M or about $2,430 psf

Nov.November 16, 2017 03:00 PM

460 Worth Avenue in Palm Beach (Credit: Google Maps)

Immohome AG, a company tied to Liechtenstein-based OEHRI Trust and Management Company, just bought a waterfront Palm Beach home for $20.5 million, property records show.

Karl Heinz and Marianne Andresen, a couple from Hamburg, Germany, sold the 8,450-square foot house at 460 Worth Avenue for about $2,430 per square foot. Karl Heinz is the founder of Karlheinz Andresen Land Administration GmbH & Co, a Hamburg, Germany based property management firm.

Records show the couple bought the home fully furnished from Stephen E. Myers Sr., co-founder and chairman of US Cable Group, in 2009 for $19.9 million plus the price of furniture.

The two-story house, built in 1991, sits on a third-of-an-acre lot at the intersection of South Lake Drive and Worth Avenue, near Everglades Golf Course. Features include a boat dock, pool, patio, elevator and boat lift.

Waterfront homes in Palm Beach tend to sell at pricing stretching into the multimillions. Earlier this month businessman Edward Watkins and his wife listed their Palm Beach waterfront mansion for $105 million.

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