Newsmax Media CEO sells office building in West Palm Beach

Brandywine Centre II, a 61,900 sf office building, traded for $134 psf

Miami /
Dec.December 04, 2017 11:20 AM

Brandywine Centre II and NewsMax Media CEO Christopher Ruddy (Credit: COMMERCIALCafe and Wikimedia)

A company managed by Christopher Ruddy, CEO of the conservative media brand Newsmax Media, just sold an office building in West Palm Beach for $8.3 million, property records show.

Brandywine Centre II, a 61,900-square-foot office building at 560 Village Boulevard, traded for $134 per square foot. Records show the buyers, North King Apartments LLC and Royal King Apartments LLC, are led by investors Shlomo Chelminsky and Yakov and Cheryl Cohen.

According to published reports, Ruddy bought the office complex in 2003 for $8.55 million, through a company called Palm Beach Property Group LLC. The recorded sales price in county records show Ruddy bought Brandywine Centre II for $7.9 million – meaning the sale may have included off-market expenses.

Avison Young’s Mark Rubin, Keith O’Donnell, and Gary Gottlieb had the listing, according to an online brochure. Neither were immediately available to comment.

Ruddy, a friend of President Trump’s, took 4,000 square feet in the building, where larger tenants include Prudential Insurance Co. and the Gary Carter Foundation charity, according to online marketing materials. His company’s headquarters is in Boca Raton.

Divine Blalock Martin & Sellari, Online Trading Academy, Recovery Home Care Services, and restaurant Renegades Country Western Bar, occupy Brandywine Centre II’s neighboring office complex, Brandywine Centre I.

Chelminsky is a North Miami businessman, whose family owns a portfolio of apartment buildings throughout Miami. A chunk of his holding companies faced foreclosures in 2009 over delinquent loans. He’s also been sued for a roof collapse in one of his buildings.


Related Articles

arrow_forward_ios
Make-A-Wish South Florida CEO Norman Wedderburn and 350 Northwest Sixth Street (Getty, Google Maps)
Make-A-Wish pays $8M for Overtown dev site
Make-A-Wish pays $8M for Overtown dev site
Phillips Point office towers with Related’s Stephen Ross (JLL, Getty)
Related Cos. closes on West Palm office towers for $282M
Related Cos. closes on West Palm office towers for $282M
Saeed Amidi and Moishe Mana (Getty, iStock)
Plug and Play to open downtown Miami office
Plug and Play to open downtown Miami office
(iStock)
Empty cubicles: Vacancies up in South Florida office market in Q4
Empty cubicles: Vacancies up in South Florida office market in Q4
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
Sagi Shaked and 201 North Pine Island Road (Shaked Law, Google Maps)
Former Plantation fertility clinic sells for $8M
Former Plantation fertility clinic sells for $8M
Michael Cammarata (Linkedin, Neptune Wellness Solutions, iStock)
Cannabis wellness company relocates HQ to South Florida
Cannabis wellness company relocates HQ to South Florida
Jorge Perez and Jon Paul Perez with Terminal Island (Getty, iStock)
Related gets height increase needed for Terminal Island office project in Miami Beach
Related gets height increase needed for Terminal Island office project in Miami Beach
arrow_forward_ios

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

Loading...