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

All homeowners on Woodbridge Road get Mar-a-Lago membership fees waived

Doug and Karin Waggoner with the property at 137 Woodbridge Road (Credit: Google Maps and Southern Methodist University)
Doug and Karin Waggoner with the property at 137 Woodbridge Road (Credit: Google Maps and Southern Methodist University)

A former executive at BlackRock bought a Palm Beach house for $8.7 million — and it comes with membership to Mar-a-Lago Club.

Douglas Waggoner and his wife, Karin, bought the 7,377-square-foot home at 137 Woodbridge Road, records show. The house is just north of President Donald Trump’s 128-room Mar-a-Lago.

Built in 2002, the gated Mediterranean-style home has six bedrooms, a pool, a library and a three-car garage. The listing for the Woodbridge Road house promises membership to Mar-a-Lago for the buyer. All homeowners on Woodbridge Road have Mar-a-Lago membership fees waived when they become members, according to the Palm Beach Daily News. Members generally pay an initial $200,000 plus $14,000 in annual fees.

Jim and Gail Fiume sold the home. Jim Fiume founded Houston-based specialty contractor Gulf Coast Windows in 1983, according to the company’s website.

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Alison Newton with Douglas Elliman represented the seller. Christine Franks with Sotheby’s International represented the buyer.

The Fiumes paid $8.9 million for the house in 2017, records show. It was listed in October for $10.4 million, with a price drop in January to $9.9 million.

Douglas Waggoner is a senior adviser at Star Mountain Capital, a New York-based specialized asset management firm focused on the U.S. lower middle-market, according to its website. He has more than 40 years of financial and executive management experience, including 20-plus years at BlackRock, the world’s largest asset manager. He left BlackRock in 2018 as a managing director and senior member of the institutional client business.

Other homeowners who have bought property near Mar-a-Lago lately include a major fundraiser to the Republican Party, who paid $7.7 million in March for a 5,886-square-foot house, and a jazz musician who paid $7.5 million the same month for a 5,998-square-foot house.