Tom Elghanayan and wife buy Palm Beach home

Tom Elghanayan gets a 98% interest in the $8.1M house, his wife Madeline Hult Elghanayan gets 2%

Miami /
Dec.December 18, 2018 01:30 PM

Tom Elghanayan, Madeline Hult Elghanayan and 235 Dunbar Road

Tom Elghanayan and his wife Madeline Hult Elghanayan paid $8.1 million for a home in Palm Beach, property records show.

The Elghanayan family is worth more than $2 billion as of 2015, according to Forbes. The family owns Rockrose and TF Cornerstone, both based in New York. Brothers Tom and Fred Elghanayan spun off from Rockrose and created TF Cornerstone in 2009. Their firm is developing a portion of Amazon’s second headquarters in Long Island City. Tom, whose full name is K. Thomas Elghanayan, purchased a nearly 98 percent interest in the 6,880-square-foot non-waterfront home at 235 Dunbar Road, with Madeline controlling a minority portion.

Records show 235 Dunbar LLC, led by attorney Maura Ziska, sold the house. The sellers are Palm Beach real estate investor Barbara Stovall Smith and her financier husband, Randall Smith, according to the Palm Beach Daily News. The home last sold for $6.18 million in 2013.

The property, which was built in 1936, includes a guest home and pool.

In November, TF Cornerstone signed a contract to buy a $300 million development site near Amazon’s planned Long Island City headquarters days before the e-commerce company made its official announcement. Tom is chairman of TF Cornerstone and his brother Fred is president.

Madeline Hult Elghanayan is a real estate broker with Douglas Elliman, ranked among The Real Deal’s top 10 new development closers in 2016.


Related Articles

arrow_forward_ios
Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Thomas Iovino and the Palm Beach property (Iovino via LinkedIn, Brown Harris Stevens via Realtor)
Construction chief buys flipped Palm Beach spec mansion for $18M
Construction chief buys flipped Palm Beach spec mansion for $18M
Tommy Hilfiger and his wife Dee Ocleppo Hilfiger with the Palm Beach location (Google Maps, Getty)
Tommy Hilfiger and wife drop $46M on third Palm Beach real estate purchase this year
Tommy Hilfiger and wife drop $46M on third Palm Beach real estate purchase this year
Todd Michael Glaser with 10 Tarpon Isle (Todd Michael Glaser)
Spec home developer Todd Glaser, partners buy entire Tarpon Island in Palm Beach for $85M
Spec home developer Todd Glaser, partners buy entire Tarpon Island in Palm Beach for $85M
Moving on up: Wealth manager upgrades to $15M Palm Beach home
Moving on up: Wealth manager upgrades to $15M Palm Beach home
Moving on up: Wealth manager upgrades to $15M Palm Beach home
David Salomon and 229 Ridgeview Drive, Palm Beach (Google Maps)
Wealth manager sells Palm Beach house for $9M
Wealth manager sells Palm Beach house for $9M
Gigi and Averell Mortimer and 255 El Pueblo Way, Palm Beach (Getty, Google Maps)
Averell and Gigi Mortimer buy Palm Beach home for $7M
Averell and Gigi Mortimer buy Palm Beach home for $7M
arrow_forward_ios

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

Loading...