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Brazilian Avenue home sells for $6.6 million

Posted On: 04-16-2012

By Darrell Hofheinz

Updated: 7:33 p.m. Monday, April 16, 2012

Posted: 6:06 p.m. Monday, April 16, 2012


Chicagoan Jacqueline J. Ferro has sold her Midtown house at 133 Brazilian Ave. for $6.6 million to a revocable trust named after the address of the property, according to a warranty deed recorded by the Palm Beach County Clerk’s office.

The property hadn’t been listed for sale in either of the two multiple listing services that serve Palm Beach. Jim McCann of the Corcoran Group, who represented Ferro when she bought the house in April 2009, said he did so again in last week’s private sale.

McCann said he had been asked not to comment on the transaction and would not name anyone else involved in the deal, including the brokerage representing the buyer.

Ferro said she had no comment on the sale when reached by phone at a number associated with her Chicago address on the deed.

Ferro had purchased the five-bedroom house from Bourne Investments, a North Carolina company represented by president and CEO Raymond F. Bourne, for $5.375 million in 2009, property records show.

With more than 6,100 square feet of living space, the Palm Beach Regency-style house was built in 1986 but underwent a “total renovation” in 2007 and 2008, according to a previous sales listing prepared by Christian J. Angle of Christian Angle Real Estate, who had marketed the property before its 2009 sale.

A new pool and 2,400-square-foot guest house also were added in 2008, the old sales listing said. The home’s features were said to include marble floors, fireplaces, a wet bar, a temperature-controlled wine room, and impact-resistant glass in doors and windows.

According to Thursday’s deed, PNC Delaware Trust Co./Hawthorne acted as trustee for the trust that bought the house. That company has an address in Wilmington, Del.

Ferro, who is listed on the deed as having a Chicago address, is married to Michael W. Ferro Jr., chairman and CEO of Merrick Ventures LLC, a Chicago-based technology holding company. He also is the chairman of Merge Healthcare, a global leader in imaging software, and founded a company called Click Commerce, for which he once acted as chairman and CEO.

Over the years, they have supported a variety of cultural and educational institutions in Chicago, including the Chicago Museum of Science and Industry, The Field Museum of Chicago, the Joffrey Ballet of Chicago, Northwestern University and the Lyric Opera of Chicago, according to Internet sources.

No information was immediately available about the trust that bought the house.


Source: Darrell Hofheinz, April 16, 2012, Palm Beach Daily News





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