Related Urban CEO snags Palm Beach home for $11M

Miami /
Jul.July 09, 2020 03:30 PM
Related Urban CEO Kenneth Himmel and 251 Jungle Road (Corcoran)

Related Urban CEO Kenneth Himmel and 251 Jungle Road (Corcoran)

 

UPDATED, July 10, 2020, 11:12 a.m.: Related Urban CEO Kenneth Himmel and his wife, Janet, bought a Palm Beach home for $10.7 million, the same day they sold a mansion on the island for $18.4 million.

The Himmels bought the 7,832-square-foot house at 251 Jungle Road from John J. Kahn and Mark Yoham for $1,366 per square foot, records show.

The half-acre property has private beach access and landscaping designed by Mario Nievera. It has six bedrooms and seven baths and three half baths.

Dana Koch of The Corcoran Group represented the seller, and Sonja Stevens with Douglas Elliman represented the buyer, according to Redfin.

The house last sold in 2007 for $10 million, records show.

The Himmels appear to be downsizing, cutting their square footage by 42 percent. The couple sold their 13,603-square-foot Palm Beach estate at 102 Flagler Drive this week to a Delaware LLC.

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.

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


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