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Townhome sells for $4.55M on ‘hot’ Brazilian Avenue

Posted On: 05-27-2015

By Darrell Hofheinz Daily News Staff Writer

Well-maintained townhouses developed during the last 15 years on Brazilian Avenue have proved to be hot commodities of late, thanks to their generous size, luxury amenities and location in the heart of Midtown.

That was the case with 232 Brazilian Ave., a four-bedroom residence that changed hands this month for a recorded $4.55 million. The seller was JDO Palm Beach LLC, a Texas limited liability company.

The company’s initials are those of the late Jane Dale Owen, a philanthropist and environmental activist who used the townhouse for getaways from her home in Dallas. Her grandfather had co-founded Humble Oil, which eventually became Exxon. Her father, meanwhile, established Gulfshore Oil Co. and Trans-Texas Production Co.

The deed recorded May 13 identifies the buyer as skin-care entrepreneur Marisa Vara Arredondo, who founded and serves as CEO of Phace Bioactive and Vara International. She is based in New York City and Greenwich, Conn.

“She’s excited to be in Palm Beach, and she wanted to be in Midtown,” said her real estate agent, Chris Deitz of Fite Shavell & Associates.

She will be renovating the Mediterranean-style townhouse, which was developed in 1998 by the late builder Bill Elias. It has 5,663 square feet of living space, inside and out, and is one of four townhouses in the development. The unit has a fireplace, elevator, generator, and a private pool with a fountain and waterfall.

“It was (sold) turnkey,” said Brown Harris Stevens agent Lisa Bellocchio, who presented the seller and had the townhouse priced at $5.1 million when it sold.

“I had only shown it a few times when it went under contract,” she added. “Everything went smoothly.

”Owen, who had ties to Houston and Rhode Island, died last June. Her company paid just under $4 million for the townhouse in 2008, property records show.

Over the past three years, the street has bustled with sales of townhomes and single-family houses, some of the latter making way for new homes.

“I tell you, Brazilian Avenue is hot,” said Deitz, who is the listing agent for Palazzo Villas, a luxury townhouse development under construction on the other side of the street in the same block.

 

Source: Darrell Hofheinz, May 27, 2015, Palm Beach Daily News

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