Published by The Real Deal South Florida, October 13, 2021
Billionaire Don Hankey paid $30.3 million for a slice of South Florida.
Hankey, via a limited liability company, bought the Oceanfront mansion at 3715 South Ocean Boulevard in Highland Beach on September 24, 2021. The seller is Moskow Management Trust, led by Eric Moskow of Las Vegas. Moskow flipped the property for 40 percent more than its purchase price of $21.6 million in March of 2021. Built in 2017, the Highland Beach mansion spans more than 11,300 square feet of indoor space, with seven bedrooms and nine bathrooms across four floors. It was built 17 feet above sea level and features a 1,200-bottle wine wall, a home theater, spa, exercise room and more, according to the listing. Douglas Elliman agent Senada Adzem represented the seller. Samantha Curry, also with Elliman, represented the buyer. They declined to comment. The property hit the market in July for $30 million. The price was raised in September to $32 million.
Hankey is known as the “king” of subprime car loans. He heads Hankey Group, a Los Angeles-based auto services consortium, and has a net worth of $5.5 billion, according to Forbes. He lent spec home developer Nile Niami about $115 million for “The One,” a Bel Air megamansion that was once on the market for $500 million and is now in a court-appointed receivership.
The seller, Moskow, is a health care investor who founded and led Accuity Delivery Systems, a health care-related business based in Las Vegas. Moskow recently paid $17.2 million for a mansion in western Palm Beach County.
The Town of Highland Beach is located between Boca Raton and Delray Beach in the Southern area of Palm Beach County. Highland Beach has experienced booming waterfront home sales and flips that are sweeping South Florida. In May, the property at 4101 South Ocean Boulevard sold for $17.9 million, three months after the seller bought it for $17 million.
In June, a company managed by Sean Posner of Grafton Street Capital and Halstatt Real Estate Partners sold an oceanfront townhouse to Stanley Moss, the CEO of a Boca Raton multibillion-dollar investment management firm, for $6.3 million.
Explore South Florida properties: