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Hedge funder drops $14M on waterfront North Palm Beach mansion
9,400 sf house includes dock for a 100-foot yacht
A hedge funder from New Jersey bought a waterfront mansion in North Palm Beach for $14 million.
Records show Robert and Lori Zoellner bought the house at 1977 Portage Landing South from Steve and Dana Herweck.
Rob Thomson of Waterfront Properties had the listing.
Robert Zoellner is CEO of Alpine Associates Management, an Englewood Cliffs, New Jersey-based hedge fund started by his late father, Robert Zoellner, Sr. and his mother, Victoria Zoellner, in 1976. The firm has 12 clients with $3 billion in assets under management according to Whale Wisdom.
The elder Zoellner was a benefactor of Lehigh University and namesake for the school’s Zoellner Atrium. He also collected stamps, and assembled a complete set of U.S. stamps issued between 1847 and 1947. The collection was auctioned off for more than $8 million in 1998, according to Bloomberg.
Zoellner’s other son is the famed tennis coach Gordon A. Uehling III, profiled in the New Yorker in 2015 for the tech-savvy methods he employs on his 48-acre estate and tennis facility in Alpine, New Jersey. Uehling has coached tennis champ Novak Djokovic and Matija Pecotić, who is also an executive with Wexford Real Estate Investors in Palm Beach.
Robert and Lori Zoellner aren’t tennis champs, but she is a working equestrian. The couple sold their 150-acre equestrian estate in Millbrook, New York for $8.5 million in 2020, according to Facebook and Sotheby’s International Realty.
Steve Herweck is CEO and founder of Atrium Medical, a full-service primary care medical firm in New York City. He also holds multiple medical patents, Justia Patents shows.
The Herwecks bought the 0.7-acre Portage Landing home for $5 million in 2011. Built in 1995, the 9,400-square-foot mansion has five bedrooms and 10 bathrooms, records show. The property includes a newly renovated kitchen, a pool and dock with capacity for a 100-foot yacht, according to the listing.
The couple first listed the property for $17.5 million in December, and dropped the asking price to $15 million in January, Redfin shows. Price drops have become a regular feature in South Florida in response to a slowdown in sales.
Other recent luxury sales in North Palm Beach include the oceanfront estate that sold for $25 million earlier this month. A Midwest car dealer sold her waterfront mansion for $10.9 million in November. The estate of a late food service mogul sold his oceanfront home for $22 million in March of last year.