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Sold last summer, Island Drive house again under contract

Posted On: 01-10-2016

By Darrell Hofheinz

Daily News Staff Writer

Former Town Council President Denis Coleman and his wife, Annabelle, have found a buyer for the Everglades Island house they bought last summer for $6.5 million — and quickly re-listed for sale at $7.895 million.

No word yet on the buyer or the amount that will change hands for the 1962 house at 608 Island Drive. But whatever the amount inked on the contract, the pending sale testifies to the appeal of lakefront properties in Palm Beach — especially when they’re priced at less than $8 million. It took less than four months to land a buyer, according to records in the Palm Beach Board of Realtors Multiple Listing Service.

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When the Colemans bought the house in July, Denis Coleman said they had plans to downsize. Their purchase occurred simultaneously with the couple’s $19 million sale of their longtime custom homedown the street at 662 Island Drive. The buyer, private-equity wiz Jeffrey C. Walker, was represented in that off-market deal by Corcoran Group agent Suzanne Frisbie opposite the Colemans’ real estate broker, Christian J. Angle of Christian Angle Real Estate.

The Colemans bought the Palm Beach Regency-style house at No. 608 from the estate of the late Judy Grubman in a deal handled on both sides by Angle. The house has 5,772 total square feet and four bedrooms. Entered in MLS in mid-August, Angle’s listing describes the property as a “possible redevelopment opportunity,” thanks to its half-acre size and waterfront location. The house is on the east side of the island, immediately south of the Island Road bridge.

The Colemans couldn’t be reached, and Angle declined to comment.




Source: Darrell Hofheinz, January 8, 2016, Palm Beach Daily News

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