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Philip Geier Jr. buys oceanfront condo from Morrisseys for $4.97 million

Posted On: 04-15-2012

By Darrell Hofheinz 

Updated: 8:32 p.m. Sunday, April 15, 2012

Posted: 8:02 p.m. Sunday, April 15, 2012

 

A second-floor condominium in the Kirkland House with a direct eastern view of the Atlantic has changed hands for $4.97 million, the price on the warranty deed recorded last week by the Palm Beach County Clerk’s office.

Kay and James “Jim” Morrissey sold their longtime Palm Beach apartment to advertising consultant and venture capitalist Philip H. Geier Jr., who acted as trustee of a trust agreement in his name. The deed also lists Hope G. Smith, one of his two daughters, as a trustee.

The trust was represented by agent Mimi Vail of Fite Shavell & Associates. Property records show that Geier owns no other Palm Beach County property under his name, nor does the trust.

Corcoran Group agent Jim McCann had listed No. 2D, a three-bedroom apartment at 101 Worth Ave., for $6.95 million for the Morrisseys. They are real estate developers with strong ties to Louisville, Ky., where they once owned a regional Weight Watchers franchise for Kentucky and southern Indiana.

The Morrisseys had paid $1.3 million in 1992 for the apartment, according to property records. The building stands on the corner of South Ocean Boulevard at Worth Avenue.

The couple plans to spend more time at their home in Louisville, Jim Morrissey said in an interview earlier this year, when the condominium was still on the market.

“We love Palm Beach and the Kirkland House, but the time has come for us to decide on one place (to live),” he said.

The Morrisseys had hired noted New York City-based interior decorator Geoffrey Bradfield to design the interiors, because they had frequently worked with his mentor, the late Jay Spectre, on projects in Louisville. Bradfield created contemporary interiors that capitalized on the apartment’s expansive wall space to display art.

‘A special place’

With relatively spacious rooms and large windows to capture views, the apartment has 4,130 square feet of living space with terraces on the east, looking across South Ocean Boulevard, and on the south facing the Avenue. It is one of only 20 units in the building.

“The Kirkland House is such a special place, because of its location and the size of the apartments,” agent Vail said.

McCann agreed with Vail, adding that Kirkland House apartments rarely come onto the market. Owners tend to hold onto them, he said, because of the building’s prime address and the spacious layouts, unusual for apartments built nearly 40 years ago. He credited developer Michael Burrows, who completed the building in 1974, as forward-thinking.

“He was really ahead of his time, realizing that people had a desire for larger sizes, as far as floor plans go. Many of the apartments built during that time were much smaller, and that was fine if people were only going to spend a couple of weeks (out of the year) there. But today, (more) space is a luxury that people want,” McCann said

 

Source: Darrell Hofheinz, April 15, 2012, Palm Beach Daily News

http://www.palmbeachdailynews.com/news/philip-geier-jr-buys-oceanfront-condo-from-morrisseys-2306711.html

 

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