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Palm Beach homes: Beachfront house near Trump’s Mar-a-Lago fetches $12 million

Posted On: 05-31-2019

A beachfront house five lots north of President Donald Trump’s Mar-a-Lago has sold at land value for $12 million, the price recorded today with the deed.

A limited liability company associated with Connecticut resident Karin Jack sold the house at 1047 S. Ocean Blvd.

A trust named after the property’s address was on the buyer’s side, with West Palm Beach real estate attorney Maura Ziska serving as trustee. No other information about anyone else associated with the trust was immediately available.

Built in 1952, the house has five bedrooms and 7,736 square feet of living space, inside and out, property records show. It stands east of the coastal road on a narrow track of beachfront land with about a dozen homes. In the Estate Section, the lot of nearly a half-acre has 100 feet of beachfront, property records show.

Agent Victoria E. Copani of Donohue Real Estate Palm Beach acted on Jack’s behalf in the deal, according to the Palm Beach Board of Realtors Multiple Listing Service. Copani listed the house at $13.5 million in mid-February.

On the buyer’s side was agent Wahkuna R. Vega-Ferrell of Earl Hollis Real Estate.

Jack, who has a home in Fairfield, Conn., had been associated with the Palm Beach house’s ownership since May 2007, property records show. That’s when a company named K Addison Jack LLC bought the property for a recorded $8.25 million. Jack took possession of the house in her name in January 2009. In July 2017, she transferred ownership to 1047 S. Ocean Blvd. LLC., the Florida company that just sold the property.

Jack was divorced from her longtime husband, the late investment bank executive Bradley H. Jack, who died in February of this year. He once served as co-chief operating officer of Lehman Brothers.

The former Jack house is on the same side of the street as Mar-a-Lago’s oceanfront Beach Club. The property also is four houses down from the oceanfront house the president bought from his sister, retired federal judge Maryanne Barry Trump, about a year ago using a limited liability company as the ownership vehicle. The president’s involvement in the deal came to light recently as a result of financial disclosure documents filed on his behalf. The president’s sons, Eric and Donald Trump Jr., were listed in courthouse records as officers of the company that paid $18.25 million for their aunt’s vacation home at 1125 S. Ocean Blvd.

The house that just changed hands is in the area of town that closes to through-traffic when the president is in residence at Mar-a-Lago, 1100 S. Ocean Blvd.

 

 

Source: Darrell Hofheinz, May 31, 2019, Palm Beach Daily News

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