Another luxury townhouse has sold on Palm Beach’s Brazilian Avenue, this one a four-bedroom residence that changed hands for $12.125 million at 450 Brazilian Ave. at the intersection of South Lake Tail near the town marina.
The buyer was Kassel Properties LLC, a Missouri-registered limited liability company that already owned the other townhouse in the duplex, Palm Beach County courthouse records show.
The deed for the sale of the townhome at 450 Brazilian Ave. in Midtown was recorded May 7 by the Palm Beach County Clerk’s office, several days after a townhouse down the street sold for $16.5 million at 220 Brazilian Ave. The latter transaction was previously reported by the Palm Beach Daily News.
On the buyer’s side of the townhouse sale at 450 Brazilian Ave., Kassel Properties has a mailing address on Forsyth Boulevard in Clayton near St. Louis, the deed shows. The contact for that company is estate-planning attorney Michael N. Newmark of the St. Louis office of the BCLP law firm. Newmark could not be immediately reached for comment.
Margaret M. McConnell Dean sold the three-story townhouse at No. 450, the deed shows. She acted as trustee of a trust in her name. With ties to Wilmington, Delaware, she is the widow of J. Simpson Dean Jr., who died in 2014 and was a member of the du Pont family, heirs to the DuPont Chemical fortune.
Property records show Margaret Dean paid $3.6 million for the townhouse in 2001, the year it was built. In 2016, she transferred ownership to a trust in her name, for which she served as trustee.
The townhouse Dean just sold has 6,000 square feet of living space, inside and out. The townhome duplex occupies a lot that measures about a fifth of an acre.
Husband-and-wife agents John O. Pickett III and K.C. Pickett of Brown Harris Stevens handled both sides of the sale of No. 450. Their listing mentioned the residence’s outdoor spaces, including “lovely balconies” overlooking the pool and gardens.
“The living room terrace offers an idyllic oasis for outdoor entertaining” with views of the pool, the listing said.
Inside, one of the bedrooms has been converted into an office-and-library.
The Picketts listed the townhouse in early January and it was under contract within four days, according to the multiple listing service. The sale closed May 1.
“It was a very neighborly deal,” John Pickett told the Palm Beach Daily News.
He declined to comment further about the transaction.
Kassel Properties has owned the adjacent townhouse, at 452 Brazilian Ave., since September 2013, when the company paid $5.6 million for it, courthouse records show. The company owns no other property in Palm Beach County under its name, according to an online search of records.
On May 2, a deed recorded for the sale of the townhouse in a duplex down the street at 220 Brazilian Ave. In that deal, Canadian financier Steven K. Hudson sold his townhouse to Crystal Crosby Lahners, the widow of the late Sarasota eye surgeon Dr. William J. Lahners. Part of a duplex near the Town Hall historical district, the four-bedroom townhome at No. 220 was built in 2022 with 5,435 square feet of living space, inside and out. Agent Chris Leavitt of Douglas Elliman Real Estate was the listing agent for No. 220 and negotiated opposite Agent Ashley Copeland of Brown Harris Stevens.
Two other luxury townhouses in Palm Beach sold within a few days of the other two.
∎ Via a deed recorded May 1, real estate investor Alexander Hufty Griswold sold for a recorded $11.4 million a four-bedroom townhouse at 161 Main St. — immediately north of The Breakers resort — through a trust in his name, the deed shows. Built in 2001 but recently renovated, the townhouse has 4,931 total square feet. As previously reported by the Palm Beach Daily News, Griswold was joined on the document by his husband, Nolen Doorack, who also handled the seller’s side of the transaction as a real estate agent with Flagship Co. Griswold heads Amata Holdings Management Corp. and is involved in other investment companies as well. The townhouse buyer was a Florida-registered limited liability company named 161 Main PB LLC. That company is managed by real estate attorney Paul A. Krasker.
∎ On May 1, a Tennessee-registered limited liability company controlled by payday-lending mogul W. Allan Jones sold a townhouse at 236 Bradley Place in Villa Plati on the near North End for a recorded $6.95 million. Benjamin J. and Barbara T. Denihan bought the Villa Plati townhouse, which has three bedrooms, 4,578 total square feet and views of the Intracoastal Waterway. Agent Suzanne Frisbie handled both sides of the sale. Benjamin Denihan is part of the family associated with Denihan Hospitality Group, a New York City-based hotel investment and management company specializing in luxury and boutique hotels. Jones sold the Villa Plati townhouse through Jones Lakeland LLC, which he has used to buy and sell other residential properties in Palm Beach. Jones founded Cleveland, Tennessee-based Check Into Cash Inc., one of the country’s largest payday-lending companies. His other companies include Creditcorp and Jones Management Services. Jones bought the Villa Plati townhouse for a recorded $6.25 million in late 2021, several months after flipping a lakefront residence across town for a recorded $42 million at the height of the Palm Beach real estate boom sparked by the coronavirus pandemic.
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: Company pays $12.125M for townhouse next door to one it already owned in Palm Beach
Reporting by Darrell Hofheinz, Palm Beach Daily News / Palm Beach Daily News
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