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
Todd and Kim Glaser with 125 Via Del Lago in Palm Beach (Google Maps, Illustration by Priyanka Modi for The Real Deal with Getty)
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Frist Cressey Ventures Bryan Cressey with the property at 2315 S Ocean Blvd. in Palm Beach (Zillow, FCVentures, Illustration by Priyanka Modi for The Real Deal with Getty)
Venture capitalist sells oceanfront Palm Beach compound for $49M
Venture capitalist sells oceanfront Palm Beach compound for $49M
Citadel’s Ken Griffin and the former Neiman Marcus building at 151 Worth Avenue in Palm Beach (Citadel, Google Maps)
Ken Griffin’s South Florida state of mind: Citadel to open Palm Beach office
Ken Griffin’s South Florida state of mind: Citadel to open Palm Beach office
Rush and Kathryn Adams Limbaugh along with 1495 North Ocean Boulevard in Palm Beach (Getty Images, Zillow, iStock)
Rush Limbaugh’s oceanfront Palm Beach estate marketed for sale, asking up to $175M
Rush Limbaugh’s oceanfront Palm Beach estate marketed for sale, asking up to $175M
Ken Griffin, CEO of Citadel LLC, along with a rendering of his planned oceanfront estate in Palm Beach (Getty Images, Citadel LLC, iStock)
Here’s the oceanfront estate Ken Griffin plans to build for his mom in Palm Beach
Here’s the oceanfront estate Ken Griffin plans to build for his mom in Palm Beach
Lawrence Moens has represented many of Palm Beach's biggest-ticket buyers, including (L-R) : Larry Ellison, Steve Wynn, Ken Griffin and Donald Trump
Meet the mystery go-to agent for Palm Beach billionaires
Meet the mystery go-to agent for Palm Beach billionaires
A photo illustration of 2000 South Ocean Boulevard in Manalapan (bottom), 901 North Ocean Boulevard in Palm Beach (top left), and 102 Jungle Road in Palm Beach (top right) (Brown Harris Stevens, LoopNet, Realtor.com, iStock)
Skyrocketing prices: Top 10 Palm Beach County sales so far this year
Skyrocketing prices: Top 10 Palm Beach County sales so far this year
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
arrow_forward_ios

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

Loading...