Blackstone exec snags waterfront Palm Beach home for $10M

The house sold for $1,492 psf

TRD MIAMI /
Jul.July 13, 2020 11:30 AM
Blackstone's Martin Brand and 568 Island Drive (Realtor)

Blackstone’s Martin Brand and 568 Island Drive (Realtor)

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.

Everglades Island is on the west side of the ritzy town of Palm Beach, overlooking the Intracoastal. Palm Beach luxury sales have soared in recent months.

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.


Related Articles

arrow_forward_ios
235 Dunbar Road, Madeline Hult Elghanayan, and Tom Elghanayan (Credit: Douglas Elliman)

TF Cornerstone’s Tom Elghanayan sells Palm Beach home for $9M

TF Cornerstone’s Tom Elghanayan sells Palm Beach home for $9M
135 El Vedado Road (Compass)

TF Cornerstone affiliate pays $12M for Palm Beach mansion

TF Cornerstone affiliate pays $12M for Palm Beach mansion
Doug and Karin Waggoner with the property at 137 Woodbridge Road (Credit: Google Maps and Southern Methodist University)

Former BlackRock exec pays $9M for Palm Beach house with Mar-a-Lago membership included

Former BlackRock exec pays $9M for Palm Beach house with Mar-a-Lago membership included
South Florida Resi Contracts Up in July (Credit: iStock)

South Florida resi contracts continued to rise in July

South Florida resi contracts continued to rise in July
350 Indian Road and (inset) Frank H. Kenan (Realtor, Kenan Institute)

Scion of Kenan family sells Palm Beach mansion for $8M

Scion of Kenan family sells Palm Beach mansion for $8M
113 Clarke Avenue, Peter J. Wood, Edwin Lin (Realtor.com)

Citadel hedge fund exec buys Palm Beach home for $10M

Citadel hedge fund exec buys Palm Beach home for $10M
Schuyler Tilney and 222 Ridgeview Drive (Linkedin, Sotheby's)

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house
1744 South Ocean Boulevard (Credit: Google Maps and iStock)

Oceanfront Palm Beach estate trades for $51M

Oceanfront Palm Beach estate trades for $51M
arrow_forward_ios

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

Loading...