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Parc Regent condo sells for $8.95 million in Palm Beach

Posted On: 06-30-2016

By Darrell Hofheinz

Daily News Real Estate Writer

A double apartment in the lakefront Parc Regent condominium building has sold for $8.95 million, according to the deed recorded Tuesday by the Palm Beach County Clerk’s office. The off-market sale ranks among the biggest-dollar lakefront condo transactions ever recorded in Palm Beach, courthouse records show.

James and Nancy Grosfeld of Michigan bought the condo from a Florida limited liability limited partnership named 101 Palm Beach Regent LLLP. That entity has a general partner named 101 Parc Regent LLC, a Florida limited liability company managed by Egyptian businessman Fakhry Abdelnour, according to the deed. Abdelnour has a mailing address in Vandoeuvres outside Geneva, Switzerland, state business records show.

James Grosfeld is a former chairman and CEO of Pulte Homes and a former director of the PulteGroup. He also is an independent director of BlackRock, the global asset and investment management company. The Grosfelds’ address on the deed is an office building in Southfield, Mich., where James Grosfeld does business. Public records also link the couple to properties in Bloomfield Hills, Mich.; Snowmass, Colo.; and a rental apartment in One North Breakers Row.

The apartment the Grosfelds just bought has two unit numbers — No. 101 and No. 102 — in property records but goes by a single address, No. 101, in the building at 184 Bradley Place. Running along the south side of the building’s lobby level, the condo slices through the Parc Regent from east to west, offering views of the Lake Worth Lagoon.

The four-bedroom apartment has about 6,735 square feet of living space, inside and on its terraces. The library also has a full bathroom.





Source: Darrell Hofheinz, June 30, 2016, Palm Beach Daily News

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