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California couple pays $6.4 million for house developed on speculation

Posted On: 06-06-2018

A never-lived-in house developed on speculation near the Intracoastal Waterway in Palm Beach has changed hands for more than $6 million, according to courthouse records.

The four-bedroom house and its one-bedroom guesthouse at 412 Brazilian Ave. sold for about $6.36 million, the deed recorded today shows. The property measures a fifth of an acre, two lots west of Cocoanut Row. The two buildings have a combined 5,086 square feet of living space, inside and out.

The buyers were James E. and Shayla McGuire. James McGuire is president and CEO of entrotech, a company headquartered in Columbus, Ohio, with a division in San Francisco, Calif. The business provides technologically “advanced materials solutions,” according to the entrotech website. Related companies include Aero Advanced Paint Technology, entrochem, and entrotech life sciences.

The McGuires own no property in Palm Beach County in their names, according to an online search of courthouse records. They will be moving from their home in Tiburon, Calif., outside San Francisco.

“We are thrilled to be relocating,” Shayla McGuire said in an email.

The house was developed by 412 Brazilian Partners LLC, a company managed by Palm Beach resident Gary Pohrer and Shaun Broderick of Rumson, N.J. Pohrer, a real estate agent with Douglas Elliman, had the house listed at just under $6.9 million, down from the price it carried when it entered the market in early November at about $7.5 million.

Broker Lawrence Moens of Lawrence A. Moens Associates represented the buyers. Moens couldn’t be reached.

The house was designed by Smith & Moore Architects in a “transitional modern” style with clean lines and simple ornamentation. Because the house has a southern exposure, architects Daniel Kahan and Peter Papadopoulos gave it oversized windows to bring in abundant natural light, according to Pohrer’s sales listing in the Palm Beach Board of Realtors Multiple Listing Service.

Pohrer declined to comment about the parties involved in the sale or specifics of the deal. But he did say he hoped the buyers “invite my wife and I over when they finish decorating the house, because we can’t wait to see what it looks like when they put their final touches into the home.”

In the main house, each bedroom has an en-suite bathroom, and the kitchen was designed with dual sinks and dishwashers and equipped with high-end appliances by Wolf. Other features include an elevator and two laundry rooms — the main one downstairs and a smaller one upstairs.

The guesthouse has a library with a wet bar, an upstairs bedroom suite, an outdoor shower to serve the pool area and an “oversized cabana bath.”

Interior finishes include white marble, mosaic tiles and floors of white oak planks.

The house was built by Shapiro Pertnoy Cos.

At least two other never-lived-in spec houses have changed hands this year in Palm Beach, both on the North End.

In May, a five-bedroom, Bermuda-style spec house with 5,080 total square feet sold for a recorded $6.2 million at 216 Sandpiper Drive on the North End, built by LC Homes of South Florida LLC. Agent Paul Birmingham of Sotheby’s International Realty represented the buyer, a trust named after the property’s address. Stephanie E. Lefes and John A. Porter, also of Sotheby’s, were the listing agents.

In January, businessman Carl Hj. Asplundh III used an ownership company to pay $7.3 million for a spec house at 110 Indian Road on the far North End. With British West Indies-inspired architecture, that five-bedroom house was developed by Purucker & Marrano Custom Homes of Palm Beach Gardens wtih 6,450 total square feet. It was ­co-listed for sale by Douglas Elliman agents Heather and Craig Bretzlaff, with agent Kim Raich of Sotheby’s International Realty handling the buyer’s side.

 

 

 

 

Source: Darrell Hofheinz, June 6, 2018, Palm Beach Daily News

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