A hedge funder’s son sold his non-waterfront Palm Beach home for $14.9 million.
Records show a trust for the benefit of Kosar Bishop sold the house at 125 Gulfstream Road to the Art Trust, with local attorney Maura Ziska signing as trustee. The true buyer is unknown.
JoAnna Myers of Douglas Elliman had the listing, and Jack Elkins of William Raveis Real Estate brought the buyer. Elkins confirmed the buyers are from out of state, but declined to comment on their identity.
Kosar Bishop is the son of Robert Bishop, founder of Impala Asset Management. Robert Bishop established the firm in New Canaan, Connecticut in 2004, and eventually moved its operations to Palm Beach. He announced he was closing the hedge fund and converting Impala to a family office, Bloomberg reported in June of last year. Prior to starting Impala, Bishop was chief investment officer at George Soros’ Soros Fund Management.
Kosar Bishop went to work for his dad at Impala after graduating from Northwestern University in 2010, according to Alpha Maven.
The Bishop family trust for Kosar Bishop bought the 0.2-acre Gulfstream Road home in 2019 for $6.7 million, records show. Built in 2018, the 3,500-square-foot house has five bedrooms and five bathrooms, records show. The property includes a pool and an outdoor kitchen, the listing shows.
Elkins said the buyers were drawn to the property because of its proximity to the ocean and walkability to Worth Avenue. The buyers won’t be doing a full renovation, but will be updating minor elements like the technology in the home, he said.
While the scion is selling, his parents are still on the island. Robert Bishop and his wife of many years, Susan Bishop, split in 2021, and Robert Bishop married Impala’s chief operating officer Perri Brooke Bishop before the end of that year, according to multiple outlets.
Susan Bishop kept the Palm Beach house at 66 Middle Road in the divorce. She and Robert Bishop bought it for $6.2 million in 2013, records show.
Robert and Perri Bishop have since acquired two Palm Beach properties for a total of almost $34 million. They bought an 11,500-square-foot, non-waterfront mansion at 201 El Vedado Road for $27.7 million through a pair of deals in 2020 and 2021, records show. Last June, they bought a 0.1-acre vacant lot for $6.2 million at 123 Chilean Avenue, according to property records.
Palm Beach has had a number of high-profile, high-value sales in recent months. Car dealer Michael Cantanucci set a record for the island in April when he dropped $170 million on an oceanfront estate. Spec developer Todd Glaser and his partners sold a waterfront mansion for $63.4 million in May. Related Companies executive Bruce Beal sold his house for $18 million, also in May. That same month, a New York City sports surgeon and his wife sold their renovated home for $14 million.