Hedge funder buys Palm Beach spec home for nearly $6M

The co-founder of a New York-based investment firm paid $5.5 million for a newly built spec home in Palm Beach.

Records show Scott Goodwin and his wife, Kimberly, bought the home at 232 Bahama Lane from 232 Bahama Lane, LLC, a Florida company that links to Nannette Gammon of The Ecclestone Organization.

Scott Goodwin is the co-founder and managing partner of Diameter Capital Partners. Before founding Diameter, Goodwin was a portfolio manager and the global head of trading at Anchorage Capital Group, according to a bio for Credit Suisse’s 2019 America’s Credit Forum.

Diameter, founded three years ago, has $4 billion in assets, and raised $500 million in its hedge fund. It is seeking another $500 million in a new drawdown fund, according to a Bloomberg article from April.

The entity tied to Ecclestone bought the property in 2018 for $2.5 million. That same year, the developer demolished the existing home and started to build a new one, according to records. The current home was finished in 2019 and listed for $6.85 million. The asking price slightly decreased to $6.65 million in August.

William Yahn with The Corcoran Group represented 232 Bahama Lane LLC, while Tina Fanjul Associates represented the Goodwins.

The newly built, 4,340-square-foot home was designed by Palm Beach designer Lisa Erdmann. It is next to the Palm Beach Country Club’s golf course. It features five bedrooms, four-and-a-half bathrooms and a lap pool.

The Ecclestone Organization has developed spec homes in the past. In 2017, The Ecclestone Organization, linked to developer E. Llwyd Ecclestone Jr., sold a home in Palm Beach for $5.6 million.

Other recent sales in Palm Beach include a taxi magnate selling his home for $6.3 million. Also, the ex-wife of the head of CNN sold bought a villa for $8.4 million, and a supermarket vice chairman bought a condo for $10.8 million.