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Deed: Lakefront house on Worth Avenue changes hands for $20.5 million

Posted On: 11-16-2017

A German couple has deeded their lakefront mansion at the west end of Worth Avenue for $20.5 million to a public limited company administered by a Liechtenstein-based trust company.

The warranty deed recorded by Palm Beach County Clerk’s office shows Karl Heinz and Marianne Andresen sold the house at 460 Worth Ave. to Immohome A.G. The document lists the company with a mailing address in care of a trust and management firm “affiliated with the Oehri family,” according to its website.

It was unclear from public documents Thursday whether the transaction was an outright sale or an internal ownership transfer.

New York City-based law firm Kagan Lubic Lepper Finkelstein & Gold prepared the deed. Senior counsel A. Edward Major of that firm had no comment about the transaction.

The house was not listed for sale in the Palm Beach Board of Realtors Multiple Listing Service when the transaction occurred.

The Andresens, who have ties to Hamburg, bought the Mediterranean villa for a recorded $19.94 million in 2008. They also paid an unspecified sum for the contents, according to a Daily News report at the time.

The house stands immediately south of the Town Docks at the point where Worth Avenue curves to become South Lake Drive.

Property records show that its main residence and an outbuilding have a total of 10,847 square feet. The property faces about 155 feet of lakefront.

When the Andresens bought the house, it was not on the market but had been listed in 2006 at $23.9 million. Linda A. Gary Real Estate represented the Andresens in that transaction.

Gary had no comment Thursday.

The Andresens bought the house from Stephen E. Myers Sr., co-founder and chairman of US Cable Group.

The Mediterranean-style villa was built in 1991 on the site of property once nicknamed “Sue City” in homage to its then-owner, society grande dame Sue Whitmore, whose fortune stemmed from Listerine mouthwash.

An executive with Munich-based Taurus Investment Holdings LLC in Deerfield Beach represented the Andresens in the 2008 deal.

Hamburg is the home base for Karlheinz Andresen Land Administration Co. Marianne Andresen is a past vice president of the Club Allemande International.

The three easternmost blocks of Worth Avenue largely feature commercial and retail buildings, while the western block is home to private homes, condominiums and co-operative buildings.




Source: Darrell Hofheinz, November 16, 2017, Palm Beach Daily News

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