Jerry Jordan Jr., the founder of, dropped $15.2 million on a second Palm Beach home.
Records show Jordan and his wife, Darlene Luccio Jordan, bought the house at 259 Merrain Road from spec developer Lee Fensterstock and his wife, Ann Fensterstock. The Jordans financed the purchase with a $10 million loan from J.P. Morgan Chase, according to public records.
Mother-son duo Paulette and Dana Koch with the Corcoran Group had the listing, and Suzanne Frisbie with Corcoran brought the buyer.
Jordan founded his Boston-based investment management firm, Hellman Jordan, in 1978. Luccio Jordan is a former Massachusetts assistant attorney general and active philanthropist, heading her husband’s namesake foundation. She is also a former trustee of Fordham University.
The Jordans’ primary residence is the lakefront mansion at 203 South Lake Trail in Palm Beach, which they bought for $14 million in 2000, according to property records. They briefly listed it for sale in 2021, asking $84.9 million, according to Realtor.com. Last year, they tapped Robert A.M. Stern Architects to design a new mansion on the site with a pool house and padel court, according to town planning documents.
The Fensterstocks bought the Merrain Road house for $4.7 million in 2013, according to property records. The 4,800-square-foot house was built in 2001 on 0.4-acres. It has five bedrooms, six bathrooms, one half-bathroom and a pool, records show. They listed it for $19.5 million in May, Zillow shows.
The couple bought a house at 202 Palmetto Lane in West Palm Beach for $4.1 million last year, according to property records. Lee Fensterstock is also a spec developer in Palm Beach. In 2023, he sold one renovated home for $13.2 million and one spec home for $16.9 million. In March, he flipped a teardown with approved plans for $14.3 million, one year after buying it for $11.2 million.