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%

TRD 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
235 Dunbar Road, Madeline Hult Elghanayan, and Tom Elghanayan (Credit: Douglas Elliman)

TF Cornerstone’s Tom Elghanayan sells Palm Beach home for $9M

TF Cornerstone’s Tom Elghanayan sells Palm Beach home for $9M
135 El Vedado Road (Compass)

TF Cornerstone affiliate pays $12M for Palm Beach mansion

TF Cornerstone affiliate pays $12M for Palm Beach mansion
Doug and Karin Waggoner with the property at 137 Woodbridge Road (Credit: Google Maps and Southern Methodist University)

Former BlackRock exec pays $9M for Palm Beach house with Mar-a-Lago membership included

Former BlackRock exec pays $9M for Palm Beach house with Mar-a-Lago membership included
South Florida Resi Contracts Up in July (Credit: iStock)

South Florida resi contracts continued to rise in July

South Florida resi contracts continued to rise in July
350 Indian Road and (inset) Frank H. Kenan (Realtor, Kenan Institute)

Scion of Kenan family sells Palm Beach mansion for $8M

Scion of Kenan family sells Palm Beach mansion for $8M
113 Clarke Avenue, Peter J. Wood, Edwin Lin (Realtor.com)

Citadel hedge fund exec buys Palm Beach home for $10M

Citadel hedge fund exec buys Palm Beach home for $10M
Schuyler Tilney and 222 Ridgeview Drive (Linkedin, Sotheby's)

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house
1744 South Ocean Boulevard (Credit: Google Maps and iStock)

Oceanfront Palm Beach estate trades for $51M

Oceanfront Palm Beach estate trades for $51M
arrow_forward_ios

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

Loading...