Advertising honcho’s widow flips SeaGlass condo for $11M

The widow of an advertising chief flipped her condo in the newly completed SeaGlass Jupiter Island for $10.7 million, $4.5 million more than her purchase price just four months ago

Records show Janet L. Stern sold unit 601 in SeaGlass at 1500 Beach Road on Jupiter Island in Tequesta. Miami-based Holland & Knight partner Elena Otero represented the buying entity, a trust named for the address. The true buyer is unknown.

Craig and Heather Bretzlaff of Douglas Elliman had the listing, and Jennifer Lourie of Keller Williams brought the buyer.

Stern is the widow of William Stern, the late longtime president and CEO of Cleveland-based Stern Advertising. The agency counts Zales, Jared, McDonald’s and Edible Arrangements among its clients, according to its website. His obituary in Cleveland Jewish News credits him with the iconic tagline, “Every kiss begins with Kay,” and as a founding member of the Great Harbor Yacht Club in Nantucket.

Stern died in January of last year as the result of a traumatic brain injury, the publication reported.

The Sterns have bought and sold condos in South Florida over the years, records show, including a unit on Fisher Island, and another in West Palm Beach’s the Bristol that they flipped for $6.7 million in 2020. Janet Stern also owns a home at 11135 Green Bayberry Drive in Old Palm Golf Club in Palm Beach Gardens, which she bought for $2.5 million in 2020.

Janet Stern closed on the SeaGlass unit when the building completed construction in November, for $6.3 million, records show. The 3,500-square-foot condo has three bedrooms, four bathrooms, and one half-bathroom, according to property records. Amenities in the building include a pool, gym, club room, and 170 feet of waterfront.  

The latest sale equates to a $4.5 million jump in price in four months.

Jeffrey Soffer’s Fontainebleau Development teamed up with Philip J. Perko’s Perko Development Partners to build the 10-story, 21-unit SeaGlass. The joint venture bought out the owners of the previous condominium on the site, the Bowling Rock Club, in 2017 and demolished it in 2019. Soffer and Perko launched sales in 2020 and secured a $50 million construction loan from Bank OZK in 2021.

They completed the $168.8 million sellout earlier this year.

Residents include Krispy Kreme CEO Michael Tattersfield, who bought unit 401 for $6.4 million in November; and Tony Petitti, the former COO of Major League Baseball, who bought unit 501 for $5.5 million that same month.

Stephen Pair, CEO of cryptocurrency payments platform BitPay, bought unit 901 with his wife, Lisa Pair, for $12 million in December.