A company tied to a top executive at Blackstone bought a waterfront home on Palm Beach’s Everglades Island for $10 million.
568 Island Drive LLC, tied to Martin Brand, the co-head of U.S. acquisitions for Blackstone’s private equity group, bought the 6,698-square-foot home for $1,492 per square foot, records show. William Lickle and his wife Renee sold the property.
568 Island Drive LLC secured a $7 million loan from First Republic Bank to purchase the home, records show.
Built in 1956, the house has six bedrooms and five-and-a-half bathrooms, according to records. It has 100 feet of frontage on the Intracoastal Waterway.
William Lickle is the former chairman and CEO of Laird Bissell & Meeds, a brokerage firm. He was also previously chairman of J.P. Morgan International Holdings Corp.
Brand leads New York-based Blackstone’s private equity investments in technology, media, telecom and financial institutions, according to the company’s website. Before Blackstone, Brand worked as a derivatives trader with Goldman Sachs in New York and Tokyo, and with McKinsey & Co. in London.
Ashley Lickle O’Neil with Brown Harris Stevens of Palm Beach represented the seller. Elizabeth DeWoody of Compass represented the buyer, according to Realtor.com.
The property last sold for $500,000 in 1980, records show.
In February, a trust managed by a senior vice president at Related Beal paid $19.1 million for an estate on Everglades Island at 630 Island Drive. Also in February, hedge funder Paul Shiverick and his wife sold their Palm Beach home on Everglades Island at 670 Island Drive for $18.8 million.