Hedge funder sells waterfront Palm Beach home for $12M

A hedge funder sold a waterfront Palm Beach home for $12.4 million.

Marvin Davidson, sold the 6,787-square-foot house at 101 Nightingale Trail for $1,827 per square foot, records show. The buyer is a Delaware company which lists its address as 1065 Weed Street, New Canaan, Connecticut.

Marvin Davidson founded New York-based Davidson Kempner Capital Management in 1983. The firm focuses on distressed investments and merger arbitrage.

The Bermuda beach house has ocean views, a private beachfront cabana and separate guest cottage. The four-bedroom, seven-bathroom main house was built in 1998, records show.

The property’s features include a 48-foot lap pool, library, fireplace, family room, and a three-car garage, according to a listing on Realtor.com.

The seller was represented by Marianne Chopp with Sotheby’s International Realty. The buyer was represented by Gary Pohrer of Douglas Elliman, according to Realtor.com.

The property last sold for $6.9 million in 2004, records show.

Palm Beach’s high-end market has not slowed down during the coronavirus pandemic. About a month ago, luxury homebuilder Mark Pulte sold a lakefront estate at 446 North Lake Way for $33.2 million. The trust of the late business mogul Morton Mandel also sold his Palm Beach estate at 1063 North Ocean Boulevard last month for $25.4 million.