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Trust buys renovated house for nearly $8M

Posted On: 07-18-2013

By Darrell Hofheinz

Daily News Real Estate Writer

A Canadian trust has paid $7.85 million for an extensively renovated house, which was built in 1970, at 134 Casa Bendita, according to the deed recorded last week by the Palm Beach County Clerk’s office.

Sotheby’s International Realty agent W. Ted Gossett and attorney Erick J. Cedron sold the five-bedroom house with nearly 7,000 square feet of living space, inside and out. Cedron then supervised the renovation. They had bought the property July 2008 for a recorded $5.7 million.

The deed lists the buyer as the Casa Bendita Irrevocable Trust with several attorneys acting as trustees, including Elaine M. Bucher of Gunster in West Palm Beach and Stuart Z. Katz of Fried Frank in New York City. The trust’s address is listed in care of Sanpalo Investments Corp., a Montreal firm affiliated with Guy Fortin, the third trustee.

The trust was represented in the deal by real estate agents Raymond Eikleberry and Suzanne Smith of Coldwell Banker West Palm Beach Intracoastal. Their broker, William Bronstein, said his agency could not comment on the sale.

Sotheby’s had listed the house for sale more than three years ago at $8.75 million, but it had been off the market for the last two years while the owners waited for the market to recover, Gossett said. He and Sotheby’s colleague Todd F. Peter relisted it in April for $8.5 million.

“The sale closed in 30 days,” said Gossett, adding that a confidentiality agreement prevented him from discussing specifics about the sale or the trust.

Gossett and Cedron have owned other property in Palm Beach and in the Washington, D.C., area, where Gossett is affiliated with Washington Fine Properties, a real estate agency.

Built in 1970 with a sloped Mansard roof and modified Georgian-style architecture, the house on Casa Bendita stands east of North County Road on a cul-de-sac about midway between Royal Poinciana Way and the Palm Beach Country Club. A half-block west of the ocean, the property sold with deeded beach access.

The renovation included updating the kitchen, replacing floors, adding moldings and reworking the floor plan. The living room and dining room have been combined into one space, creating what the Gossett and Cedron referred to as the “Grand Hall” in the Georgian tradition. The space houses two of the home’s three fireplaces.

In a 2010 article about the property in the Palm Beach Daily News, Gossett described the design of the house as having a Caribbean influence.

“The doors from the loggia, the Grand Hall and the master bedroom all open to the back courtyard, pool and gardens, a floor plan popular in homes close to the equator,” he said.

Gossett said last week that the sale of the house marks the first time he has not owned Palm Beach property in 11 years.

“I’m looking at two or three things,” he said, but he wouldn’t comment further.

The lot measures about four-tenths of an acre and was once part of the long-demolished Casa Bendita estate designed by society architect Addison Mizner for John S. “Jay” Phipps. Among the neighborhood’s features is a landmarked coquina-stone wall from the original estate that runs along one side of the properties on the south side of the street.

The Palm Beach County Clerk’s office recorded the deed July 9.

Gossett and Cedron bought the house from the estate of the late Dury Appleton, who was 91 when she died in 2008. She was said to have been wed secretly to John F. Kennedy for a brief period at some point between 1938 and 1947, a marriage she publicly denied.

In December 2009, Gossett sold a home in the Estate Section he and Cedron had bought in 2004 at 190 Via Palma. Once owned by Ivana Trump, the house was resold last year.

 

Source: Darrell Hofheinz, June 21, 2013, Palm Beach Daily News

http://www.palmbeachdailynews.com/news/news/national/trust-buys-renovated-house-for-nearly-8m/nYs6f/

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