Distinctive Palm Beach Properties
 
 
Zimmermans
 

Quick Search

 
 

Lakefront house sells for $5M more than in 2013

Posted On: 02-18-2015

By Darrell Hofheinz Daily News Real Estate Writer

New York businessman and island real estate investor Steven L. Apple has pocketed a tidy $5 million on the sale of a lakefront house on North Lake Way that he bought in April 2013, according to the prices recorded in Palm Beach County property records.

He paid a recorded $7.8 million for 1120 N. Lake Way two years ago and sold it this week for $12.73 million.

A Florida limited liability company named after the property’s address was the buyer, identified in state business records with an address in care of the Jones Foster law firm in downtown West Palm Beach. No other information about the buyer was included on the deed recorded Tuesday. The seller was listed as Sunshine Properties Palm Beach LLC, a limited liability company that Apple controls.

Built in 1976 by the late developer Robert Gottfried in his signature architectural style, the house occupies an elevated lot of nearly half an acre with 110 feet of direct waterfront and a dock.

As it did two years ago, Hall Real Estate acted for Apple in the transaction.

Listing agent Betsey Hall had put the four-bedroom, 5,222-square-foot residence on the market in early November, priced at $13.995 million. Apple had installed a new roof and a new air-conditioning system and ducts, in addition to making cosmetic improvements.

Agents Maureen Woodward of Brown Harris Stevens and Dragana Connoughton of Sotheby’s International Realty acted opposite Hall in the deal. Woodward said she couldn’t comment on her client or the transaction, and Connoughton couldn’t be reached. Hall said she also couldn’t comment about the buyer.

Apple is president of Apple Rubber Products, a manufacturer of O-rings, rubber seals and related products in Lancaster, N.Y. With longtime ties to the Buffalo area, he has owned property in Palm Beach since at least 1995, courthouse records show. His name currently is attached to six other Palm Beach properties, most owned by a revocable trust in his name, for which he acts as trustee.

Among them is a 5,848-square-foot house he bought in 2003 at 1575 N. Ocean Blvd. That property appears as his address on deeds and in state business records for Sunshine Properties Palm Beach LLC.

The house on North Lake Way has an elevation high enough to screen its back yard and windows from pedestrians and bicyclists on the Lake Trail — a prime selling point, according to real estate observers. The property is wedge-shaped, with 110 feet of waterfront fronting the sea wall and 100 feet along the main lot east of the Lake Trail.

Before Apple bought it, the house on North Lake Way had been owned for more than 30 years by Anna and Friedrich Wilhelm Waffenschmidt of Bergisch Gladbach, Germany. In the 2013 sale to Apple, Hall acted for the sellers and her son, broker Steve Hall, represented Apple, according to the Palm Beach Board of Realtors Multiple Listing Service.

Apple bought the house in his name but in October transferred ownership to the limited liability company that just sold it. He could not be reached for comment.

 

Source: Darrell Hofheinz, February 18, 2015, Palm Beach Daily News

News Categories

Zimmerman Douglas Elliman

340 Royal Poinciana Way, Suite 318
Palm Beach, FL 33480

Jacqueline A. Zimmerman (561) 906-7153 Direct jz@PalmBeachProperty.com

Adam M. Zimmerman (561) 906-7152 Direct az@PalmBeachProperty.com

(561) 655-8600 Main Office

 
www.DistinctivePalmBeachProperties.com

The Definitive Source for Palm Beach Real Estate

Jacqueline A. Zimmerman(561) 906-7153pAdam M. Zimmerman(561) 906-7152pMain Office(561) 655-8600
Douglas Elliman, Licensed Real Estate Broker | 340 Royal Poinciana Way, Suite 318, Palm Beach, FL 33480


house

Equal Housing Opportunity

Privacy Policy | Terms & Conditions

Copyright © 2017. All Rights Reserved

No warranty or representation, express or implied is made as to the accuracy of the information contained herin, and same is submitted subject errors, omission, change of price rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.