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Updated: South End house sells for $15.25M, records show

Posted On: 07-01-2015

By Darrell Hofheinz Daily News Real Estate Writer

Chicago hedge-funder Kenneth Griffin appears to have added another Blossom Way property to the nearly 8 acres he already owned on the South End street.

A $15.25 million deed recorded today shows that a Delaware limited liability company associated with Griffin’s Chicago investment firm, Citadel LLC, has bought a house at 70 Blossom Way. On a lot measuring 1½ acres, that landlocked property is not contiguous with his other holdings on the same street, which boast about 900 feet of oceanfront.

The house was sold by Worth Avenue jeweler Tracy Kamenstein Markin, who had co-owned it with with her late husband, businessman David R. Markin.

The house, built in 1987, stands immediately east of South Ocean Boulevard and four houses south of the Bath & Tennis Club. With a guesthouse and tennis court among its amenities, the house sold with private deeded beach access, according to the sales listing in the Palm Beach Board of Realtors Multiple Listing Service.

Sotheby’s International Realty agent Ned Monell had priced the property at $16.85 million. It had been on the market since at least January of last year, according to MLS records.

The house and guesthouse have a total of five bedrooms and 10,873 square feet of living space, Monell’s listing showed.

Broker Lawrence Moens of Lawrence A. Moens Associates couldn’t be reached, but his office confirmed he handled the buyer’s side of the deal.

Property records from 1992 show David Markin bought the house for $2.65 million with his ex-wife, former Town Councilwoman Susan Markin, who is today chairwoman of the Planning and Zoning Commission. Ownership transferred solely to David Markin after their 2002 divorce.

Markin, who is known professionally by the name Tracy Dara Kamenstein, became co-owner after their marriage. Her husband, who had at one point had owned the Checker Motors taxi company, died in 2013.

Blossom Way made national real estate news in December 2012, when companies associated with Griffin bought four properties from three different owners for a grand total of nearly $130 million. Orchestrated by Moens, that deal remains Palm Beach’s biggest-dollar transaction involving a single buyer simultaneously acquiring multiple parcels.

Griffin’s redevelopment plans for the property have not yet been made public.Griffin and Markin could not be reached for comment.

 

Source: Darrell Hofheinz, July 1, 2015, Palm Beach Daily News

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