Private equity honcho sells Palm Beach home for $23M

Sellers completed the house this year, after buying the site in 2018 for $2.6M

Miami /
Nov.November 03, 2021 06:00 PM

Alexander Coleman, a managing partner at Austin, Texas-based Providence Management LLC, sold 216 Angler Avenue in Palm Beach (realtor.com, linkedin.com)

UPDATED, Nov. 5, 5 p.m.: A private equity honcho sold a Palm Beach home for $23.3 million, underscoring the continued strength of South Florida’s luxury single-family housing market.

Amanda and Alexander Coleman, a managing partner at Austin, Texas-based Providence Management LLC, sold 216 Angler Avenue in Palm Beach, to a Delaware LLC that shares the same name as the property, records show.

The 8,483-square-foot house was completed this year, according to Realtor.com. The half-acre property last sold for $2.6 million in February 2018, records show.

After their purchase, the Colemans contracted with Thomas B. Cushing Demolition to tear down the previous home on the site, and hired AMC Custom Builders to construct the new house.

According to Realtor.com, the seven-bedroom home was listed in August for $28.8 million. Lawrence Moens with Lawrence A. Moens Associates had the listing.

Dana Koch and Paulette Koch of the Corcoran Group represented the buyer.

Other property features include seven full bathrooms, three half-bathrooms, a two-car garage, a fireplace and a pool.

This is the latest in a series of high-priced home sales in Palm Beach.

In October, a former Palm Beach councilwoman who lost money investing with Bernie Madoff sold her lavish lakefront estate for $37.8 million, roughly $7 million below its listing price. 1450 North Lake Way Trust, whose trustee is Maura Ziska, bought the 13,449-square-foot mansion.

In September, a hedge fund manager purchased a waterfront spec mansion in Palm Beach. Jason Capello, who led New York-based Merchants’ Gate Capital, paid $30.7 million for the six-bedroom home at 1404 North Lake Way.

Also in September, venture capitalist David Skok paid nearly $26 million for the former Palm Beach property of convicted sex offender and financier Jeffrey Epstein, who died in a New York jail two years ago. And developer Clark Beaty sold his oceanfront Palm Beach spec mansion for $64 million, six months after listing the property for $84 million.





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