JLL Partners founder buys two vacant lots in Palm Beach for $11M

Palm Beach’s high-end residential market has not slowed during the pandemic

Miami /
Jun.June 09, 2020 08:45 AM
233 Tangier Avenue, 225 Tangier Avenue and Paul Levy of JLL Partners (Google Maps)

233 Tangier Avenue, 225 Tangier Avenue and Paul Levy of JLL Partners (Google Maps)

The founder of New York private equity firm JLL Partners bought two vacant lots in Palm Beach for $10.8 million.

Paul Levy and his wife Karen purchased the 0.4-acre vacant lot at 233 Tangier Avenue from Houston Financial Investments LLC for $5.67 million, records show. The couple also bought the 0.4-acre lot next door at 225 Tangier Avenue from ILLKM PB LLC, tied to Jeff Weiner, the CEO of accounting firm Marcum LLP, for $5.15 million, records show.

The buyer and seller were represented by Christian Angle, according to Realtor.com.

The lot at 225 Tangier Avenue was last purchased for $3.7 million in 2014, records show, while the lot at 233 Tangier Avenue was last bought for $2.85 million in April 2009.

Paul Levy founded JLL Partners in 1988 and serves on the management committee. Previously, he was a managing director at Drexel Burnham Lambert, where he was responsible for the firm’s restructuring and exchange offer business in New York.

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


Related Articles

arrow_forward_ios
(Christian J. Angle Real Estate)
Waterfront Palm Beach home sells for $33M after nearly 30 years in family’s hands
Waterfront Palm Beach home sells for $33M after nearly 30 years in family’s hands
232 Bahama Lane in Palm Beach, Jeffrey A. & Erica R. Keswin (middle) and Scott Goodwin & Kimberly Goodwin (right) (Photos via Compass, Facebook, Getty, Lyrical AM)
Hedge funders galore: One flips Palm Beach home to another for $7M
Hedge funders galore: One flips Palm Beach home to another for $7M
Igor Tulchinsky and 12088 Banyan Road (Getty, Douglas Elliman)
Hedge funder Igor Tulchinsky spends $40M on oceanfront North Palm Beach mansion
Hedge funder Igor Tulchinsky spends $40M on oceanfront North Palm Beach mansion
Tommy and Dee Olceppo Hilfiger with 313 Dunbar Road (Getty, Google Maps)
Tommy Hilfiger drops $21M for waterfront Palm Beach home
Tommy Hilfiger drops $21M for waterfront Palm Beach home
Cosmetic mogul Adrien Arpel and the Palm Beach home. (Getty, Frankel Ball Realty)
Cosmetic mogul Adrien Arpel sells waterfront Palm Beach home for $25M
Cosmetic mogul Adrien Arpel sells waterfront Palm Beach home for $25M
Late chairman and CEO of Affiliated Managers Group Sean Healey. (AMG, Compass)
Late investment tycoon’s estate sells beachfront manse for $35M
Late investment tycoon’s estate sells beachfront manse for $35M
Nicholas and Caroline Rafferty and 6709 South Flagler Drive, West Palm Beach (Getty/Patrick McMullan, Google Maps)
Financial adviser and interior designer buy waterfront West Palm Beach house for $7M
Financial adviser and interior designer buy waterfront West Palm Beach house for $7M
Janice McNair and 425 Worth Avenue. (Getty, Compass)
Houston Texans’ billionaire owner sells Palm Beach co-op for $5M
Houston Texans’ billionaire owner sells Palm Beach co-op for $5M
arrow_forward_ios

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

Loading...