Palm Beach townhome that sold 7 months ago for $25.6M just traded again. But for how much?
Financier Steven Hudson has sold, for $26.66 million, the Palm Beach oceanfront townhouse he bought new in June for about $1 million less, according to the prices recorded at the courthouse.
His purchase last summer of the five-bedroom townhouse at 466 S. Ocean Blvd. — in a quadplex on the site of the old Charley’s Crab restaurant — was recorded at $25.58 million, the deed recorded June 27 shows.
The buyer in the sale that closed this week was a Colorado-based limited liability company linked to the Palm Beach address of investments manager Lewis “Lew” Sanders and his wife, Alice, at 615 N. County Road. The company is named Willoughby Investors LLC, according to the deed recorded Friday.
The Sanderses were busy for the past few years building a new house on their oceanfront estate on North County Road, immediately north of the one radio shock jock and television host Howard Stern bought in 2013. The Sanderses’ estate was completed in 2021, property records show.
From the archives:Sanderses plan mansion for lot they own next to Howard Stern’s on Billionaires Row
Howard Stern buys Palm Beach estate:Meet the new neighbor: Howard Stern reportedly pays $52 million for Palm Beach home
Lewis Sanders founded and is CEO and co-chief financial officer of Sanders Capital LLC, an investment management firm. He retired in 2008 as CEO of AllianceBernstein, another investment management company.
Hudson is CEO of ECN Capital, a Toronto-headquartered company that provides “prime credit portfolios” to more than 90 U.S. financial institutions, according to its website.
Hudson, who is single, had declared the townhouse his primary home in the latest Palm Beach County tax rolls.
In the middle of the development, the townhouse looks across the coastal road to Midtown Beach. With 10,110 square feet of living space, inside and out, it has an oceanfront living room and library along with a pergola-covered patio facing a whirlpool spa.
Like the other three townhouses, it has three levels, including a finished basement with space designed for a game room, wine room, laundry room and an exercise room. The residence has a second-level primary suite with an oceanview balcony.
The townhouse shares a wall with the southernmost townhome, which is larger and has a private swimming pool.
Hudson buys townhouse:With $25.58 million sale, Frisbie Group sells out Palm Beach ‘spec’ townhomes for grand total of $109M
Another big townhouse sale:Seaside townhouse quadplex sees third sale, for $27.75 million, in Palm Beach, deed shows
‘The market is hot,’ Palm Beach agent says about townhouse sale
Agent Chris Leavitt of Douglas Elliman real estate represented Hudson when he bought the townhouse last year and returned to act on Hudson’s behalf in the just-closed sale.
In a brief phone conversation Friday, Leavitt would not discuss specifics of the sale but acknowledged that the property had sold fairly quickly and at a significantly higher price than it did seven months ago.
“That market is hot,” Leavitt said Friday, his only comment during the conversation.
Leavitt listed the townhouse at $29.75 million at the tail end of November, the MLS shows.
Agent Kevin Condon and Cristina Condon of Sotheby’s International Realty handled the buyer’s side of the sale, Kevin Condon confirmed before declining to discuss the transaction.
When Hudson bought the townhouse, it was the final unit to sell new in the quadplex, which was developed on speculation by Frisbie Group of Palm Beach and completed in 2021.
In last summer’s sale, Corcoran Group agent Suzanne Frisbie represented the seller opposite Leavitt. She also is principal at Frisbie Group.
Palm Beach officials approved townhouse project in 2018
The townhome development was greenlighted by the town’s Architectural Commission in 2018 after several months of stringent review that included a demand for a major change in architectural style — from Bermudian to Mediterranean.
The townhouses have stucco exteriors, cast-stone decorations, tapered chimneys, cypress balconies and red barrel-tile roofs. The project was built by Seabreeze Building.
The same month that Hudson bought the townhouse, a company he controlled sold a single-family house at 134 Casa Bendita in Palm Beach for a recorded $20.83 million
Leavitt represented Hudson’s company in the sale of the Casa Bendita house, negotiating opposite Douglas Elliman agent Vince Spadea Jr., representing the trust that bought it.
Hudson’s company had paid $16.34 million for the five-bedroom house near the ocean in March 2021, courthouse records show.
dhofheinz@pbdailynews.com
Hudson sells house on Casa Bendita:Renovated 1970s-era house near sea in Palm Beach brings $20.83 million, deed shows
*
This is a developing story. Check back for updates.
*
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly "Beyond the Hedges" column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call (561) 820-3831 or tweet @PBDN_Hofheinz. Help support our journalism. Subscribe today.
This article originally appeared on Palm Beach Daily News: Palm Beach townhome last sold for $25.6M. How much was latest sale?
