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Beyond the Hedges: Couple downsizes, from Seaspray to Southlake

Posted On: 01-04-2013

By Darrell Hofheinz

Daily News Staff Writer

Richard and Cynthia Callahan have parted with their Midtown house in favor of condominium living a few blocks away.

Agent Betsey Hall of Hall Real Estate acted on behalf of the couple in the sale of their four-bedroom house, one-bedroom guesthouse and one-bedroom garage apartment at 345 Seaspray Ave., which sold last month for a recorded $3.35 million. Hall then represented the couple in their $1.3 million purchase of a two-bedroom apartment, No. 3C, at The Southlake, 315 S. Lake Drive.

The buyer of the Callahans’ house was W. Richard Bingham, who founded American Industrial Partners, a private-equity firm. Married to Winifred Bingham, he has longtime ties to San Francisco, where he was appointed in 1996 as honorary consul to Lithuania.

Agent Robin Weiss Donnelley of Fite Shavell & Associates acted on the buyer’s side of the deal. The Binghams own no other property in the county under their names, property records show.

Agent Ashley Copeland of Brown Harris Stevens had last listed the condo at $1.395 million for its seller, Susanne Black, who also acted in the sale as trustee of a revocable trust in her name.

The Callahans had owned their Monterey-style home, which was built in 1937, since 1989. The 2,200-square-foot condo to which they downsized has 3,732 fewer square feet than their former home. But it comes with something they couldn’t get in the middle block of Seaspray Avenue – sweeping views of the Intracoastal Waterway.

The house sold quickly, as Hall got the listing in early October, when she priced it at $3.8 million. She had it under contract three weeks later, and the sale closed Dec. 5, according to records in the Palm Beach Board of Realtors Multiple Listing Service.


Source: Darrell Hofheinz, January 4, 2012, Palm Beach Daily News



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