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Owner buys one North End home, sells another within two days

Posted On: 04-22-2012

By Darrell Hofheinz 

Updated: 8:17 p.m. Sunday, April 22, 2012

Posted: 7:36 p.m. Sunday, April 22, 2012

 

A Florida corporation associated with John W. Grand of Palm Beach last week sold one North End house for $6.45 million on North Ocean Boulevard and paid $3.77 million for a just-completed “spec” house about five blocks to the south on Nightingale Trail, according to warranty deeds recorded by the Palm Beach County Clerk’s office.

Grand signed an April 18 deed as president of Shadowcorp Holdings Inc. to sell the five-bedroom oceanfront house at 1326 N. Ocean Blvd. in a privately arranged deal.

A Massachusetts ophthalmologist, Dr. Stephen F. Sullivan, and his wife, Marcia G. Sullivan, bought the Bermuda-style house at the corner of North Ocean Boulevard and Osceola Way. The Sullivans were represented by agent Jim McCann of the Corcoran Group, who said a confidentiality agreement prevented him from discussing the deal.

Property records link the Sullivans to two other houses in Palm Beach, one owned under Marcia Sullivan’s name on Mockingbird Trail and the other nearby on Osceola Way. The couple also has a residence in South Dartmouth on the southern coast of Massachusetts, where Stephen Sullivan owns Eye Health Vision Centers, a medical and surgical practice he founded with multiple locations.

Four-bedroom spec home

Two days prior to the North Ocean Boulevard sale, Shadowcorp Holdings Inc. bought the never-before-lived-in house at 212 Nightingale Trail from its developer, Robmar Realty LLC. The county recorded the deed for that sale, dated April 16, and the other deed on Wednesday.

In the Nightingale Trail sale, listing agent Hazel Rubin of Fite Shavell & Associates represented Robmar Realty, a development company created by Palm Beacher Mark Goldman and his son, Robert Goldman of West Palm Beach. Their four-bedroom, British Colonial-style house had been listed in the Palm Beach Board of Realtors multiple listing service for about $4.5 million.

Intense competition

Built by Wittmann Building Corp., the house on Nightingale Trail — developed without a specific buyer in mind — was a rarity in the Palm Beach housing market this season, because the recession had deterred many developers from starting new residential projects during the past two years. That had left a hole in the marketplace — and intense competition for the house, Rubin said.

“It’s a new house, and many people do not want to do construction nowadays,” Rubin said. “They just want to move in and enjoy it.”

Rubin, who said she worked closely with the home’s developers, had promoted it as the “only new construction” available this season on the North End. She said she had had to inform several disappointed would-be buyers that the house was sold after it went under contract, less than 60 days after it was listed in January, Rubin says.

Agent Suzanne Frisbie of the Corcoran Group represented Shadowcorp Holdings in its purchase of the house on Nightingale Trail, according to the multiple listing service.

Agent unconfirmed

Frisbie would not confirm that she was involved in the sale of 1326 N. Ocean Blvd., which wasn’t listed in the MLS system when it sold. But MLS records show she had been the listing agent for the 7,179-square-foot house when it was on the market in 2010 for $6.75 million.

Citing confidentiality agreements with her client, Frisbie also said she could not discuss any aspect of the Nightingale Trail transaction.

Home features

With 5,876-square feet of living space, inside and out, the Nightingale Trail house was designed by Michael Perry of MP Design and Architecture in Palm Beach and has 10-foot ceilings, custom millwork, elevator and a state-of-the-art kitchen, according to Fite Shavell’s sales listing. Nievera Williams Design of Palm Beach created the landscaping plan. On an interior block, the house comes with deeded beach access and the use of an oceanfront community cabana.

In 2010, Goldman and his son bought the property at 212 Nightingale Trail for a recorded $1.24 million from Howard and Charlotte Abrams, and subsequently demolished a house there to build their spec home.

The Sullivans’ new beachfront home on North Ocean Boulevard, meanwhile, has an open floor plan with an oceanside “great room,” a renovated kitchen and a “VIP” guest suite, according to Corcoran Group’s expired listing.

Property records

In addition to the property owned by Marcia Sullivan at 233 Mockingbird Trail, property records show that 230 Osceola Way is owned by a limited liability company with the same address as the Sullivans’ home in South Dartmouth, Mass.

Public records had listed the North Ocean Boulevard address as the residence of Grand. The Nightingale Trail address, in turn, was listed under his name on the deed of sale for the North Ocean Boulevard house.

Shadowcorp Holdings bought the North Ocean Boulevard house in November 1998 for a recorded $2.7 million, property records show.

Public records show that Grant and Shadowcorp had previous addresses or owned property in Miami-Dade County.

Grant, the Sullivans and Mark Goldman could not be reached for comment.

 

Source: Darrell Hofheinz, April 22, 2012, Palm Beach Daily News

http://www.palmbeachdailynews.com/business/owner-buys-one-north-end-home-sells-another-2319577.html

 

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