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Billionaire founder of LoanDepot adds to South Florida resi portfolio
He bought a North Palm Beach home for $9.9M, paid $50M for Star Island mansion, $19.5M for a One Thousand Museum condo, in recent weeks
LoanDepot’s founder and CEO added a pricey property in North Palm Beach to his portfolio, The Real Deal has learned.
Billionaire Anthony Hsieh, who recently acquired a penthouse at the Zaha Hadid-designed One Thousand Museum, as well as a waterfront Star Island mansion, paid $9.9 million for a waterfront home in the Village of North Palm community. Hsieh’s JLSA Palm LLC acquired the four-bedroom, 6,564-square-foot house at 860 Lakeside Drive, according to property records obtained by TRD.
That means Hsieh has spent close to $60 million on three South Florida homes over the past month.
In North Palm Beach, Lake H. Lytal III and his wife, Jennifer Lytal, sold the Intracoastal Waterway-fronting home. Lake, known as “Trey,” Lytal, an attorney with Lytal, Reiter, Smith, Ivey & Fronrath, specializes in personal injury and wrongful death litigation. He’s secured multimillion-dollar verdicts and settlements for clients across the country, according to his bio.
Lytal’s grandfather was a civil rights trailblazer who served more than 30 years on the Palm Beach County Commission, according to his obituary in the Palm Beach Post.
Lytal III and his wife’s home in North Palm Beach sold for a record price for the neighborhood, beating the previous record of $7.4 million for the house next door, according to the brokerage involved in the deal and property records. Carla Christenson and Kimiko DeGuchi with One Sotheby’s International Realty represented the buyer and seller in this latest deal.
The home, designed by Randall Stofft, was built in 2011 on a 0.3-acre property across from MacArthur State Park. It includes a fireplace, temperature controlled walk-in wine cellar, a white marble kitchen, master suite with a balcony, a fitness center, saltwater heated pool, outdoor kitchen and bar, and a two-slip dock with boat lifts, according to the listing.
The buyer, Hsieh, has been paying sky-high prices for his South Florida properties at a time when there is little inventory of waterfront homes.
Barbara Stovall Smith and her husband, Randall “Randy” Smith, the co-founder and chief investment officer of Alden Global Capital, a multibillion-dollar hedge fund also led by co-founder Heath Freeman, sold 34 Star Island Drive to Hsieh earlier this month for $30 million.
In late December, Hsieh also acquired unit 5201 at One Thousand Museum for $19.5 million.
Forbes pegs Hsieh’s net worth at $2.6 billion. Lake Forest, California-based LoanDepot is one of the largest non-bank, direct-to-consumer lenders in the U.S. The company bought the naming rights to Miami’s Marlins Park in March of last year.