Published by The Real Deal South Florida, April 19, 2021
The co-founder of a New York-based private equity firm bought an Oceanfront Palm Beach, Florida Mansion for $32.1 million.
Records show Frank A. Baker II, the co-founder and managing partner of Siris Capital Group, and his wife, Laura, an Interior Designer and Philanthropist, purchased the home at 680 South Ocean Boulevard. Siris Capital Group has raised over $5.9 billion in capital, according to its website. The mansion has 6 Bedrooms and 8.5 Bathrooms on 0.75 acres. The home also includes a pool, elevator, gym and a three-car garage with a lift, according to the listing.
The seller was Richard Kurtz, the founder and president of Englewood Cliffs, New Jersey-based apartment management firm Kamson Corp. Kamson owns and manages rental communities in New Jersey, Pennsylvania, New York and Connecticut, according to its website. Jim McCann represented the seller.
Palm Beach’s luxury market is on fire. This month, Billionaire Jim Clark sold his estate for $30.1 million, a trust paid $18 million for a home, and Steve Wynn dropped $24 million for a lakefront Palm Beach home.
Luxury Single Family Homes in South Florida are in high demand and their sales have shattered records–not only the number of sales, but record high purchase prices as well. There’s very limited inventory of Single Family Oceanfront Homes in South Florida.
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