Members of the prominent Simkins family paid about $9 million for an oceanfront condo in Palm Beach, nearly three times its last sale price six years ago.
Richard and Leslye Radutzky sold the three-bedroom, three-and-a-half-bathroom unit 308N at 2100 South Ocean Boulevard to Morton and Judith Simkins, property records show. Morton is the brother of the late Leon Simkins, who was president of Miami-based Simkins Industries, a paper products company founded by their father Samuel in 1901. Members of the Simkins family, including Michael, also invest in real estate in Miami and Miami Beach.
Richard Radutzky is president of Joyva Corp., a Brooklyn-based chocolate and confectionery manufacturer known for its halvah.
The 3,100-square-foot unit traded for nearly $2,900 per square foot.
Radutzky and his wife paid $3.2 million in 2017 for the unit at 2100 Sloans Curve in Palm Beach, records show. The condo has two terraces and comes with an air conditioned poolside cabana and a two-car garage. The building was constructed in 1981 and amenities include a fitness center, beach access and tennis courts.
The unit hit the market in December with Fern Fodiman of Sotheby’s International Realty for $9.5 million, according to the listing. Thor Brown with Douglas Elliman represented the buyers.
Fodiman and Brown said the sale marked a per-square-foot record for the Sloans Curve complex in Palm Beach. Brown declined to comment on the buyers.
The Radutzkys just closed on a smaller condo at 2778 South Ocean Boulevard in Palm Beach, fronting the Intracoastal Waterway. Records show the couple paid $1.7 million for the two-bedroom, 1,500-square-foot unit at Sutton Place the day after selling their unit to the Simkinses. Fodiman brokered that deal as well, she said.
Morton H. Simkins also owns the Intracoastal-to-oceanfront home at 1741 South Ocean Boulevard in Palm Beach, according to property records.
Though Palm Beach is known for its waterfront estates, a handful of high-profile condo buildings exist on the island. In December, billionaire Robert Kraft, owner of the New England Patriots, paid a Palm Beach record of $23.8 million for the penthouse at 110 Sunset Avenue. The estate of the late Erving and Joyce Wolf sold the unit.
Earlier this month, developer Todd Michael Glaser and his partners flipped the penthouse on top of Tiffany & Co. on Worth Avenue to car dealership mogul Terry Taylor for $18 million.
Read more
Residential
South Florida
A trade among Miami Beach families: Simkins and Rubell purchase waterfront home from the Mirmellis
Development
South Florida
PMG, partners plan 44-story Airbnb condo tower near E11even Miami