A trust purchased a home in Palm Beach for $18 million, in an off-market deal.
Records show Walter W. Bell, acting as trustee of The Villa Giardino Land Trust, bought the house at 341 Peruvian Avenue from Lauri L. Cornell. The trust secured a $9 million mortgage from Morgan Stanley Private Bank.
Cornell and her late husband, Ronald LaBow, who died in September, purchased the two-story, 4,476-square-foot home for $6.8 million in 2012. Property records show the house was built in 1967 and includes an elevator and a pool. Cornell manages Lenroc Consulting, LLC, according to records.
Also recently in Palm Beach, the founder of a hotel chain sold her waterfront estate for $57 million, Steve Wynn flipped a waterfront property for $23.7 million and Todd Michael Glaser also flipped a Palm Beach home for $27.5 million.