Related Beal exec linked to purchase of $19M Palm Beach estate

Everglades Island house sold for $2,800 psf

Miami /
Feb.February 25, 2020 03:30 PM
630 Island Drive and Mark Biondi

630 Island Drive and Mark Biondi

UPDATED, Feb. 26, 2:55 p.m.: A trust managed by a senior vice president at Related Beal paid $19.1 million for a waterfront Palm Beach estate.

Property records show Island Drive Realty Trust, managed by Mark Biondi and John McBrine, closed on the four-bedroom, 6,902-square-foot home at 630 Island Drive. Biondi is responsible for management and oversight of various entities of Related Beal, the Boston-based real estate arm of New York’s Related Companies, according to the firm’s website. He is also responsible for strategic planning and financial management for Related Beal’s principals.

The house sold for $2,767 per square foot.

The sellers were Steven M. Gottlieb, an anesthesiologist, and Laurie J. Raber.

Christian Angle of Christian Angle Real Estate represented both sides of the deal, according to Realtor.com.

The Everglades Island house was built in 2016 and features a library, gym, three-car garage, club room with a pool table, bar and fireplace, and a wine cellar. It sits on a nearly half-acre lot with fountains, a fire pit, loggia, pool, spa and dock.

Records show the property, which overlooks the Intracoastal Waterway, last sold for $5.6 million in 2012.

The Palm Beach luxury home market has been on fire, with two deals closing last year for more than $100 million. Just last week, developer Carl Panattoni paid nearly $29 million for an oceanfront Palm Beach estate, and a company tied to Quicken Loans and its chairman Dan Gilbert paid $24.5 million for the Palm Beach mansion at 100 El Bravo Way.

In July, a trust controlled by members of the billionaire Coleman family that founded Tiger Global Management paid $17.3 million for a waterfront estate, also on Everglades Island.


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