Venture capital firm founder buys Palm Beach condo for $6M

Condo at Kirkland House, across the street from the ocean, sold for $1,331 psf

Yongmee Michele Kang and 101 Worth Avenue in Palm Beach
Yongmee Michele Kang and 101 Worth Avenue in Palm Beach

Yongmee Michele Kang, founder and CEO of Cognosante Ventures, bought a Palm Beach condo for $5.5 million.

Records show Kang bought the four-bedroom, four-bath condo at 101 Worth Avenue from the Kevin J. Collins 2002 Revocable Trust. Robert W. Sheehan is named as a trustee.

Cognosante Ventures is a Falls Church, Virginia-based venture capital firm that provides seed money to technology startups. Kang founded the company in 2008.

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The Kevin J. Collins Trust had paid $2.3 million for the 4,130-square-foot Kirkland House unit 0031 in 1999, according to records.

The 20-unit condo building, which is across the street from the ocean, was built in 1974. Kang’s purchase equates to $1,332 per square foot.

Palm Beach has seen a number of high-priced sales this month. Billionaire real estate and casino magnate Neil Bluhm bought a Palm Beach townhouse for $7.4 million. A spec house sold for $5.7 million, and the family of Andy Warhol muse Jane Holzer bought a Palm Beach home for $8 million.