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UPDATED: Lakefront estate changes hands for $17.4M, records show

Posted On: 07-01-2015

By Darrell Hofheinz Daily News Real Estate Writer

A lakefront house at 240 Banyan Road has changed hands for $17.4 million, according to the deed recorded by the Palm Beach County Clerk.

The house was the home of Mary Jo Condren and her late husband, private investor William Condren. He paid $5 million for it in 1995, property records show. His widow and their children owned it through a life estate.

The deed lists the buyer as the DEW Revocable Trust, for which Anastasios Parafestas serves as trustee. He heads The Bollard Group, a boutique Boston investment firm that manages real estate holdings.

Built in 1991 with modified Georgian-style architecture, the four-bedroom house and its two-bedroom garage apartment have a total of 11,365 square feet of living space, inside and out. A few streets south of the Everglades Golf course, the house stands on a lot measuring three-quarters of an acre.

Agent Cristina Condon of Sotheby’s International Realty had last listed the property at $19.95 million. She said a confidentiality agreement prevented her from discussing the sale.

Broker Lawrence Moens of Lawrence A. Moens Associates handled the buyer’s side of the sale. He couldn’t be reached.

With a U-shape configuration featuring north and south wings, the main house is oriented toward the west to make the most of its Intracoastal Waterway views.

 

Source: Darrell Hofheinz, July 1, 2015, Palm Beach Daily News

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Zimmerman Douglas Elliman

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