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Palm Beacher buys two adjacent houses on North End

Posted On: 04-23-2014

Palm Beacher Gene Reed Jr. last week paid a recorded $11.5 million for two adjacent properties on the North End:

an oceanfront house at 1230 N. Ocean Blvd. and a house immediately to the west at 1233 N. Ocean Way.

Deaj Properties Ltd., a Canadian entity linked to Toronto businessman David Feldberg, sold the two houses in one

transaction, according to the deed recorded Wednesday by the Clerk & Comptroller of Palm Beach County’s office.

Broker Christian J. Angle of Christian Angle Real Estate confirmed that he handled both sides of the off-the-

market deal. He would not comment further, citing a confidentiality agreement.

Angle also represented Deaj Properties in 2011 and 2013, when it bought the houses in separate transactions

totaling $7.5 million, property records show. Together, the properties measure an eighth of an acre and lie about

midway between the Palm Beach Country Club and the northern tip of the island.

Built in 2006, the four-bedroom custom home, facing the ocean, and its private beachfront cabana have 6,263

square feet of living space, inside and out, according to a former sales listing in the local multiple listing

service. The house stands on a site at least 15 feet above sea level.

The home’s elevated position allows it to enjoy ocean views from all of the major rooms, even though it faces the

cabana across North Ocean Boulevard. With about 100 feet of waterfront, the beach parcel also has a swimming pool

and a whirlpool spa directly facing the sea — a relative rarity in Palm Beach.

The 1960 house to the west has four bedrooms and 3,483 total square feet, MLS records show.

Feldberg is president and CEO of Teknion, an international office-furniture company headquartered in Toronto,

according to public records.

Reed owns Gene Reed Enterprises, which operates car dealerships in North Carolina and South Carolina.

Neither Reed nor Feldberg could be reached for comment.

Reed owns another Palm Beach house at 225 Seabreeze Ave., which is for sale at $8.95 million. Angle had

originally listed the five-bedroom house, but he canceled his MLS listing April 1. On April 4, agent Paula

Wittmann of Fite Shavell & Associates re-listed the house in the local MLS.

Wittmann said she was not involved in the North End deal and had no further comment.

Deaj Properties paid Walter Michael and Maureen Gretschel, who built the house at 1230 N. Ocean Blvd., a recorded

$5.8 million for it in 2011. They were represented in that deal by agents John Campbell and Colleen Hanson of the

Corcoran Group.

Last summer, Deaj Properties bought 1233 N. Ocean Way for $1.7 million from Walter J. Elliott and Babette K.

Sughrue, who acted individually and as co-trustees of a marital trust in that sale.

Feldberg’s name appears on one of several deeds related to that sale, in which Christine Franks of Wilshire

International Realty acted on behalf of the sellers.

 

Source: Darrell Hofheinz, April 21, 2014, Palm Beach Daily News

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