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Palm Beach homes: Phipps Estate house brings $8.37 million, MLS shows

Posted On: 06-03-2019

House built in 2000 was home to Laurie Kaplan and her late husband, money manager Martin Kaplan.

A Bermuda-style house at 227 Via Tortuga in Palm Beach’s Phipps Estate enclave has sold for a recorded $8.37 million, according to an updated listing in the local multiple listing service.

The renovated one-story house has three bedrooms and 8,182 square feet of living space, inside and out, property records show.

Lawrence Kaplan of New York City was on the seller’s side of the deal, courthouse records indicate. He and his late father, Martin Kaplan, bought the property using a life estate for about $6 million at the tail end of January 2015, according to courthouse records.

The sale closed Friday, according to MLS, but the deed was not immediately made public by the Palm Beach County Clerk’s office. No information about the buyer was immediately available in public records.

Martin Kaplan, a money manager and former president and CEO of KR Capital Advisors, died in August 2015 at 78. His widow, Laurie Kaplan, then signed an agreement to lease the house on a long-term basis from her son, property records show. She had the house homesteaded in the latest Palm Beach County tax rolls.

The house was the Kaplan family’s first residential purchase in Palm Beach, although they had previously leased properties here. Laurie Kaplan and her late husband had homes in New York City and the Hamptons when they bought the Palm Beach residence.

The home was completed in 2000 on a lot measuring sixth-tenths of an acre on the northernmost of the two streets in Phipps Estates, a residential enclave on the near North End. The house’s property line fronts North Lake Way.

The property underwent renovations and interior improvements after the 2015 transaction, courthouse records show. The projects included a new kitchen and the installation of new wood floors and impact-resistant glass.

The layout included a den, an oversized loggia with a summer kitchen and a three-car garage, according to the sales description prepared by listing agent Heidi W. Wicky of Sotheby’s International Realty.

Wicky listed the house for sale in January at $8.975 million, according to the Palm Beach Board of Realtors MLS.

Agent Denise Segraves, also of Sotheby’s International Realty, represented the buyer, according to the MLS.

Martin Kaplan worked for 29 years as an executive at Merrill Lynch. He and his wife’s philanthropy included support for Martin Kaplan’s alma mater, Baruch College at the City University of New York, where classrooms and a computing and technology center are named for the couple.

The Kaplan family bought the house from its first owners, the late Louise and Michael Stein, philanthropists who died in 2013. The Steins bought the house in 1999 from its developer, when the neighborhood was taking shape on property that had been part of the massive Phipps family estate, about a half-mile north of Royal Poinciana Way. Broker Lawrence Moens of Lawrence A. Moens Associates had the listing when the Steins’ children sold the house four years ago. Agent Susan Furman, then of Linda A. Gary Real Estate, acted on behalf of the buyers.



Source: Darrell Hofheinz, June 3, 2019, Palm Beach Daily News

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