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New York developer buys landmarked house on Golfview Road for $6.5 million

Posted On: 10-02-2017

Nearly two years after it entered the Palm Beach market at a substantially higher price, a landmarked house at 19 Golfview Road near Worth Avenue has changed hands for a recorded $6.5 million.

The four-bedroom house built in 1940 was designed by the firm of noted society architect Maurice Fatio on four-tenths of an acre. At the corner of South County Road, the house is one of just three on south side of the private street and backs up to the Everglades Club’s golf course.

It’s just down the street from landmarked Hogarcito, the first Palm Beach house of Marjorie Merriweather Post and then-husband E.F. Hutton. They later built Mar-a-Lago, which is today President Donald Trump’s winter White House.

The house at No. 19 was sold by Michael Kelly and Edward J. Kelly Jr., acting as trustees of a trust in the name of Michael Kelly with an address in Doylestown, Penn. The trust had owned the estate since it paid $3.85 million for it in 2002. The property was then restored via a substantial renovation project and today has about 5,000 square feet of living space, inside and out, property records show.

Agent Wally Turner of Sotheby’s International Realty listed the house at just under $9 million in November 2015, a price he dropped early last year to $6.9 million. Turner’s sales listing described the property as a “restored jewel with gorgeous casual and formal spaces” and a “stylish” 39-foot swimming pool.

On the buyer’s side was another trust, a revocable one in the name of New York businessman Francesco Galesi, according to the deed recorded late last week. He serves as its trustee, and his real estate agent was Heather Woolems, one of Turner’s colleagues at Sotheby’s. Neither agent would comment, and Galesi, Michael Kelly and Edward J. Kelly Jr. couldn’t be reached.

Woolems, meanwhile, has listed for sale at $4.5 million a four-bedroom condominium that Galesi’s trust bought in February across the bridge at One Watermark Place. That 10th-floor unit is a little larger — at 5,224 square feet — than the house that just changed hands.

 This 10th-floor apartment at One Watermark Place facing Palm Beach is being marketed by Sotheby’s International Realty at $4.5 million on photo

This 10th-floor apartment at One Watermark Place facing Palm Beach is being marketed by Sotheby’s International Realty at $4.5 million on ... Read More

The house on Golfview — with an exterior featuring clapboard siding and painted brick — has architecture reminiscent of the Monterey style, including a signature “hanging” balcony facing the front motor court. The town granted the house landmark protection in 1997.

Galesi is chief executive officer and chairman of Galesi Group, with companies involved in real estate, energy and logistics. Headquartered in Schenectady, N.Y., the company was founded in 1969.

The Kelly trust, meanwhile, has owned property in Palm Beach since at least 1999, when it purchased a house about a half mile south of Golfview Road, courthouse records show. Represented by Turner, that trust sold the house at 241 El Vedado Road for $6.1 million in 2005.

A block south of Worth Avenue, the Golfview Road neighborhood was pioneered in the early 1920s. The Golf View Development Co. reportedly was financed by Hutton in a partnership between builder Harry Raymond Corwin and society architect Marion Sims Wyeth, who designed the first houses on the street.

 

 

 

Source: Darrell Hofheinz, October 2, 2017, Palm Beach Daily News

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