Sean Posner, partners sell new Highland Beach townhouses for $12M

Former Bank of America Merrill Lynch exec paid $5.75M for his townhome

3621 South Ocean and Corcoran's Jennifer Kilpatrick
3621 South Ocean and Corcoran's Jennifer Kilpatrick

UPDATED, Jan. 9, 5:02 p.m.: The developers of a boutique townhouse project in Palm Beach County’s Highland Beach sold two units to a banking executive and a digital marketing investor.

Grafton Street Capital, led by Sean Posner and Jed Resnick, and Halstatt Real Estate Partners developed 3621 South Ocean. Property records show the group just sold townhouse 3 to JHJ Family Trust, managed by trustee Jeffrey Herzog, for $6.05 million. Herzog is chairman and CEO of ZD3 in New York, according to LinkedIn. He describes himself as an investor in the digital marketing space.

The development group also sold townhouse 4 to Christin and Joseph Kohls for $5.75 million.

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Joseph Kohls was a senior managing director of Guggenheim Securities’ healthcare investment banking group. Before that, he was co-head of global healthcare investment banking at Bank of America Merrill Lynch.

3621 South Ocean recorded two previous closings in November 2018, including one sale to SBA Communications’ founder and chairman, Steven E. Bernstein, for $6.9 million.

The five-bedroom, six-bathroom, four-story townhomes each feature a pool, rooftop deck, high ceilings and two-car garages. Jennifer Kilpatrick of the Corcoran Group is handling sales of the six-unit project, according to a spokesperson. Two units remain unsold.

Posner is the grandson of the late real estate mogul and former corporate raider Victor Posner. Sean Posner’s past projects in South Florida include spec homes in Miami Beach, built in partnership with Todd Michael Glaser, one of which traded for about $30 million and another for $19.5 million.