Company tied to Quicken Loans buys Palm Beach estate for $25M

The purchase marks the entity’s second Palm Beach home purchase this week

Miami /
Feb.February 20, 2020 11:30 AM
Dan Gilbert and 100 El Bravo Way (Credit: Getty Images and Realtor)

Dan Gilbert and 100 El Bravo Way (Credit: Getty Images and Realtor)

A company tied to Quicken Loans and its chairman Dan Gilbert bought a Palm Beach mansion for $24.5 million, marking the entity’s second home purchase this week.

EL Sueno LLC, managed by Michelle M. Porter, sold the 10,843-square foot estate at 100 El Bravo Way for $2,259 per square foot, records show. Golden Crate LLC, which lists its address as the Detroit, Michigan offices of Quicken Loans, purchased the house. A document filed with the city of Palm Beach is signed by Matthew Rizik, the CFO of Gilbert’s holding company, Rock Ventures.

The home was last purchased for $20.3 million in 2017. It was built in 1922. The house has seven bedrooms and nine bathrooms.

Suzanne Trapani Frisbie of Premier Estate Properties listed the property.

Earlier this week, Golden Crate LLC purchased another home in Palm Beach at 670 Island Drive for $18.8 million.

Quicken Loans is a mortgage company based out Detroit, Michigan. In 2017, the company became the country’s largest residential mortgage lender. It is also the country’s largest lender of FHA loans and has dominated the residential mortgage market as banks have retreated from the market.

Gilbert is also the majority owner of the NBA’s Cleveland Cavaliers.

A majority of the priciest home sales in the tri-county region in 2019 were on the barrier island of Palm Beach. At the top of the list was the $105 million purchase of the 10-bedroom estate at 1415 South Ocean Boulevard by billionaire hedge funder Steven Schonfeld and his wife Brooke.


Related Articles

arrow_forward_ios
Donald Trump, Eric Trump and Donald Trump Jr with 1125 South Ocean Boulevard (Premier Estate Properties, Getty)
Trump’s Palm Beach estate listed for rent asking $208K a month
Trump’s Palm Beach estate listed for rent asking $208K a month
Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
184 Sunset Avenue in Palm Beach with Benchmark's Jordan Vogel and Aaron Feldman (Apartments, LinkedIn, Getty)
Benchmark drops $17M for historic Palm Beach apartment building
Benchmark drops $17M for historic Palm Beach apartment building
Todd Michael Glaser; 1320 North Lake Way and 576 Island Drive (Todd Michael Glaser, Realtor, iStock)
Todd Glaser, partners flip two waterfront Palm Beach estates for $70M
Todd Glaser, partners flip two waterfront Palm Beach estates for $70M
The property at 102 Jungle Road with Ivana Trump and Tomas Maier (Google Maps, Getty, Wikipedia)
Ivana Trump’s former Palm Beach mansion sells for $73M
Ivana Trump’s former Palm Beach mansion sells for $73M
Todd Michael Glaser
Watch: Todd Michael Glaser on developing dream homes for billionaires
Watch: Todd Michael Glaser on developing dream homes for billionaires
Douglas Elliman's Scott Gordon with 2770 South Ocean Boulevard (Douglas Elliman, Google Maps)
Auto dealership magnate Terry Taylor buys oceanfront Palm Beach condo
Auto dealership magnate Terry Taylor buys oceanfront Palm Beach condo
151 Chilean Avenue in Palm Beach (Realtor.com, iStock)
Billionaire bows out: David “Duke” Reyes, wife, sell Palm Beach home for $21M
Billionaire bows out: David “Duke” Reyes, wife, sell Palm Beach home for $21M
arrow_forward_ios

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

Loading...