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Quick sale: Midtown oceanfront condo fetches $5.25M

Posted On: 12-25-2015

By Darrell Hofheinz

Daily News Staff Writer

A Greenwich, Conn., couple has paid $5.25 million for an oceanview condominium on the fifth floor of Dunster House at 360 S. Ocean Blvd., according to the price recorded with the deed last week.

Mark J. and Patricia L. Davies were the buyers of Unit 5A, the deed shows. They were represented in the purchase by agents Paulette Koch and Dana Koch of the Corcoran Group. Team Koch had no comment, and the Davies couldn’t be reached.

The two-bedroom condo, which also has a den, was sold by Elinor C. and Ralph Lubow. Agent Heather T. Woolems of Sotheby’s International Realty had listed it at $5.5 million in early October, and by Oct. 15 it was under contract, according to the local multiple listing service. Woolems also declined to comment.

The apartment has 2,500 square feet of interior space and captures wide views of the sea from every major room, thanks to its prime southeast corner position.

Elinor Lubow owned the condo through a trust in her name, for which she served as trustee. She had paid $500,000 for it in 1980, when she bought it from the building’s developer, the late Michael Burrows.

The Davies own no other property in Palm Beach County in their names, records show. Mark Davies is a financial professional registered with the Merrill Lynch, Pierce, Fenner & Smith securities firm in New York City, records show.

The Davies are active on Greenwich’s cultural and charitable scene, supporting organizations such as Greenwich Hospital and the Boys & Girls Club of Greenwich. They also make contributions through their Davies Family Foundation, IRS records show.

This isn’t the first time Woolems has sold a southeast-corner apartment in the Dunster House. In July 2013, she was the listing agent when publisher Victor Winston and his wife, Belle, sold Penthouse A for a recorded $4.925 million. The buyer was an entity affiliated with Chicago architect and real estate developer James R. Loewenberg. Broker Lawrence Moens of Lawrence A. Moens Associates handled the buyer’s end of that deal.





Source: Darrell Hofheinz, December 25, 2015, Palm Beach Daily News

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