Related Urban CEO sells Palm Beach estate for $18M

Related Urban CEO Kenneth Himmel and his wife, Janet, sold their Palm Beach estate for $18.4 million.

The couple sold their 13,603-square-foot estate at 102 Flagler Drive for $1,352 per square foot, records show. FDPB Holding Company LLC, a Delaware LLC tied to lawyer Adam Seligman, purchased the property.

The estate includes a main house and a guest house. Built in 1928, the main house has five bedrooms and seven bathrooms, records show. The guest house, built in 1998, has two bedrooms and two-and-a-half baths. The property is next to The Breakers golf course in Palm Beach.

Sonja Stevens with Douglas Elliman represented the seller. Christian Angle of Christian Angle Real Estate represented the buyer.

The property was last purchased for $6.5 million in 2007, records show.

Himmel oversees Related Companies’ mixed-use projects, including Rosemary Square in West Palm Beach and Hudson Yards in New York City. Himmel is also managing partner of Gulf Related, an Abu Dhabi-based joint venture between Related Companies and Gulf Capital.

The Palm Beach ultra luxury market has shown no signs of slowing down during the pandemic.
In June, the Kennedy family’s former Palm Beach compound, where President John F. Kennedy worked on his 1961 inaugural address, sold for $70 million.

Developer Todd Michael Glaser paid $17 million in June for the non-waterfront Palm Beach estate at 127 Dunbar Road, with plans to restore it and live there with his family.

Also in June, luxury homebuilder Mark Pulte sold the lakefront lot at 445 North Lake Way for $23 million.