Billionaire Don Hankey buys oceanfront Highland Beach mansion for $30M

Estate flipped for 40% more than its purchase price seven months ago

Miami /
Oct.October 13, 2021 04:36 PM
Billionaire Don Hankey buys Highland Beach mansion for $30M

Don Hankey with 3715 South Ocean Boulevard (Hankey Group, Douglas Elliman)

Billionaire Don Hankey paid $30.3 million for a slice of South Florida.

Hankey, via a limited liability company, bought the oceanfront mansion at 3715 South Ocean Boulevard in Highland Beach. The seller is Moskow Management Trust, led by Eric Moskow of Las Vegas. Moskow flipped the property for 40 percent more than its purchase price of $21.6 million in March.

Hankey is known as the “king” of subprime car loans. He heads Hankey Group, a Los Angeles-based auto services consortium, and has a net worth of $5.5 billion, according to Forbes.

He lent spec home developer Nile Niami about $115 million for “The One,” a Bel Air megamansion that was once on the market for $500 million and is now in a court-appointed receivership.

Built in 2017, the Highland Beach mansion spans more than 11,300 square feet of indoor space, with seven bedrooms and nine bathrooms across four floors. It was built 17 feet above sea level and features a 1,200-bottle wine wall, a home theater, spa, exercise room and more, according to the listing.

Douglas Elliman agent Senada Adzem represented the seller. Samantha Curry, also with Elliman, represented the buyer. They declined to comment.

The property hit the market in July for $30 million. The price was raised in September to $32 million.

The seller, Moskow, is a health care investor who founded and led Accuity Delivery Systems, a health care-related business based in Las Vegas. Moskow recently paid $17.2 million for a mansion in western Palm Beach County.

Highland Beach, in Palm Beach County, has experienced booming waterfront home sales and flips that are sweeping South Florida. In May, the property at 4101 South Ocean Boulevard sold for $17.9 million, three months after the seller bought it for $17 million.

And in June, a company managed by Sean Posner of Grafton Street Capital and Halstatt Real Estate Partners sold an oceanfront townhouse to Stanley Moss, the CEO of a Boca Raton multibillion-dollar investment management firm, for $6.3 million.





    Related Articles

    arrow_forward_ios
    Treo Construction's Ricardo Halfen and 422 Golden Beach Drive
    Homebuilder sells waterfront Golden Beach spec house for $15M
    Homebuilder sells waterfront Golden Beach spec house for $15M
    Miami Skyline
    South Florida by the numbers: A look back at 2022
    South Florida by the numbers: A look back at 2022
    Gina Rinehart with 107 Dolphin Road and 6 Via Los Incas in Palm Beach
    Australian billionaire family linked to Palm Beach home purchases totaling $100M-plus
    Australian billionaire family linked to Palm Beach home purchases totaling $100M-plus
    Tommy and Dee Hilfiger with 930 South Ocean Blvd in Palm Beach (Google Maps, Getty)
    Super broker Lawrence Moens sells Palm Beach estate to Tommy Hilfiger for $37M
    Super broker Lawrence Moens sells Palm Beach estate to Tommy Hilfiger for $37M
    John Ruiz with 530 Arvida Parkway
    John Ruiz sells waterfront Gables Estates home for discounted $30M
    John Ruiz sells waterfront Gables Estates home for discounted $30M
    Former NFL owner Dwight Schar, 550 S Ocean Blvd, Palm Beach
    Billionaire former NFL owner Dwight Schar sells Palm Beach estate for $45M
    Billionaire former NFL owner Dwight Schar sells Palm Beach estate for $45M
    (Illustration by The Real Deal with Getty)
    South Florida residential dollar volume falls 50% in December
    South Florida residential dollar volume falls 50% in December
    3565 North Ocean Boulevard, Gulf Stream and J&K Ingredients' James Sausville
    Baking mogul scores $32M on oceanfront estate flip
    Baking mogul scores $32M on oceanfront estate flip
    arrow_forward_ios

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

    Loading...