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.


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