What South Florida Real Estate Could Be Affected by The Indictment of Paul Manafort?
Special Counsel Mueller's investigation may not have turned up any evidence of collusion between the Trump Campaign and Russia, but it did lead to the indictment by a federal grand Jury of Paul Manafort and business associate Rick Gates on October 27, 2017 on 12 counts of alleged financial crimes.
Special Counsel Mueller's investigation may not have turned up any evidence of collusion between the Trump Campaign and Russia, but it did lead to the indictment by a federal grand Jury of Paul Manafort and business associate Rick Gates on October 27, 2017 on 12 counts of alleged financial crimes. The charges include conspiracy against the United States, conspiracy to launder money, unregistered agent of a foreign principal, false and misleading Foreign Agent Registration (FARA) statements, false statements and seven counts of failure to file reports of foreign banks and financial accounts. The indictments were announced Monday October 30 after leaks from the sealed indictment October 27, the filing date on the document. Real estate plays a major roll in how the charges against Manafort proceed. Evidence suggests that from 2006 to 2016, Manafort and Gates wired more than $21 million into the United States from offshore accounts, all income on which they paid no federal income tax as well as evaded taxes on millions of dollars they earned as lobbyists and consultants for Ukrainian officials. If Manafort and Gates are ultimately convicted, they would likely be forced to surrender the properties involved in the Palm Beach Gardens property mentioned in the alleged scheme; in addition to other homes Brooklyn, SoHo, Bridgehampton; Arlington, Virginia, and California, amongst others.
10 St. James Drive, Palm Beach Gardens
Specifically to South Florida real estate, the indictment alleges that Manafort used his 5,200 SF Palm Beach Gardens home, located at 10 St. James Drive, as the mailing address for a number of companies included in Monday’s indictment. The companies include Daisy Manafort LLC, John Hannah LLC, Lilred LLC and MC Soho Holdings LLC. Manafort also spent more than $1 million on home improvements to his Florida property. A Florida-based home automation, lighting and home entertainment company received $1.3 million between 2011 and 2013 via wire transfers which ranged from $6,200 to $290,000. An unnamed Florida contractor also received about $432,000 in wire transfers during the same period, the newspaper reported. The trial is set to begin May 7, 2018.
Featured Listing: Tour A Lavish, Regency Moderne Palm Beach Estate Asking $8.395 Million
Palm Beach has no shortage of lavish homes and 742 N Lake Way is no exception. Originally built in 1960 in a regency moderne style, the custom home has been completely rebuilt and renovated to bring it up to modern day standards.
Palm Beach has no shortage of lavish homes and 742 N Lake Way is no exception. Originally built in 1960 in a regency moderne style, the custom home has been completely rebuilt and renovated to bring it up to modern day standards. The residence features 4,768 SF of interior living space spread over 4-bedrooms, 4 full bathrooms and 2 half-baths. The home sits on a .44 acre lot which happens to be one of the highest elevation lots in Palm Beach. 742 N Lake Way features ornate, luxurious finishes, a gourmet kitchen, lavish bathrooms finished with marble, and a pool surrounded by stunningly landscaped hedges along with a waterfall. 742 N Lake Way is currently listed for $8,395,000 with Todd Peter and Frances Peter of Sotheby's International Realty.
Kelly Slater Wave Co. Receives Approval For Surf Park In Palm Beach County
Kelly Slater’s proposed Surf Ranch by Kelly Slater Wave Company in Palm Beach has been approved by Palm Beach County as the surf legend and billionaire Dirk Ziff aim to bring their concept that is already proven in Lenmoore, California to Slater's native Florida.
Kelly Slater’s proposed Surf Ranch by Kelly Slater Wave Company in Palm Beach has been approved by Palm Beach County as the surf legend and billionaire Dirk Ziff aim to bring their concept that is already proven in Lenmoore, California to Slater's native Florida. The Surf Ranch will be located on 80 acres at the Palm Beach Park of Commerce and construction is expected to begin in 2018. The Surf Ranch is essentially a man-made surfing lake that relies on solar paneled KSWC technology for wave generation to create an artificial wave. The facility would feature a 16.6 acre lagoon, 31,915 SF of interior usable space including a 10,121 SF learning center, 5,392 SF training center, a 3,566 SF clubhouse and 160 parking spots. The zoning proposal states that the facility would be used for pro surfers to train and to host events and contests. Slater's goal is to make a professional tour stop in Palm Beach County a possibility as inconsistent surf limits the state's ability to produce a top level venue in which the world's best surfers can compete. Slater is an 11-time world champion and Ziff is a Palm Beach local who is also co-owner of the World Surf League. The Surf Ranch is expected to open in 2019.
“Well...it’s official... we have a building permit in Palm Beach County for #SurfRanchFlorida. I’m beyond proud and stoked to see the first of our developments at @kswaveco going to my home state of #Florida. Thank you to Mayor Burdick and the city commissioners for your approval and support of the project. Also thank you to #JupiterFarms for your comments and support. Looking forward to being neighbors. I keep joking about it but it might be true that now I can move back home now and surf as much as I want! Cannot wait to see a bunch more stoked people riding waves. This is gonna be fun," said Slater on Instagram.
La Lechuza, A 62-Acre Equestrian Compound in Wellington, Sells for $17.1 Million
La Lechuza, the 62-acre estate which is home to the Lechuza Caracas Polo Team, has sold for $17.1 million. The estate was asking $28,900,000 and the deal was brokered with Tom Baldwin of Equestrian Sotheby's International Realty. The buyer is PBC Polo Properties, LLC., an entity owned by Nate Ward, who is partner and co-founder of Palm Beach Capital.
La Lechuza, the 62-acre estate which is home to the Lechuza Caracas Polo Team, has sold for $17.1 million. The estate was asking $28,900,000 and the deal was brokered with Tom Baldwin of Equestrian Sotheby's International Realty. The buyer is PBC Polo Properties, LLC., an entity owned by Nate Ward, who is partner and co-founder of Palm Beach Capital, a private equity investment firm based in West Palm Beach. The sale was financed with a $14.1 million mortgage from Stifel Bank & Trust. The seller was PF Polo Properties, LLC. an entity owned by Emma Cisneros, who is connected with Venezuelan banker and polo player Victor Vargas. Vargas owns Banco Occiental de Descuento, the 4th largest bank in Venezuela, and the La Lechuza Polo Team.
La Lechuza is located at 4360 South Road in Wellington and features polo and show jumping facilities. The compound features a 2 regulation size Polo fields, 1/4 mile exercise track, 160" x 255" sand ring, 160" x 255" Grand Prix grass ring, 60-stall polo barn, 12-stall show jumping barn, tack rooms, feed rooms, an aquatic horse walker, fitness center, large car collector's garage, owner’s living quarters, nine apartments with a kitchen and a manager’s office. The property last sold for $4.4 million in 2002.
Driftwood Acquisitions and Development Breaks Ground on Canopy by Hilton West Palm Beach
Driftwood Acquisitions and Development (DAD) officially broke ground on their new 150-room Canopy by Hilton West Palm Beach. The project, located at 704 S. Dixie Highway, marks the first hotel project in Palm Beach County for the Coral Gables-based firm.
Driftwood Acquisitions and Development (DAD) officially broke ground on their new 150-room Canopy by Hilton West Palm Beach. The project, located at 704 S. Dixie Highway, marks the first hotel project in Palm Beach County for the Coral Gables-based firm. The hotel will be located 2 blocks away from City Place, Downtown West Palm Beach's retail, dining and entertainment hub. Canopy by Hilton West Palm Beach will rise 14-stories and feature 150 hotel rooms, 5,000 SF of event space, fitness center, 2 full-service restaurants and rooftop swimming pool. Driftwood Acquisitions and Development financed construction with a $27.7 million loan from First American as well as an additional $19 million that was raised via foreign investors through the Federal EB-5 Visa Program. The Canopy brand launched in October 2014 with a concept focusing on energizing neighborhoods by incorporating local design and food elements into each unique location. The first Canopy location in North American was Canopy by hilton Washington DC The Wharf. Construction on Canopy by Hilton West Palm Beach is expected to be completed by Q1 2019.
“West Palm Beach is a lively and entertaining area for all ages, and we are confident that this thriving neighborhood is the perfect fit for the Canopy brand. We’ve always wanted a hotel that was close to our management headquarters and we are now living that dream,” said Carlos Rodriguez, CEO of DAD, an affiliate of North Palm Beach-based Driftwood Hospitality Management.
Featured Listing: Tour A Prestigious, Ultra-Luxe, Venetian-Inspired Palm Beach Villa Asking $14.25 Milion
Step inside this elegant Venetian-inspired villa located the prestigious El Vedado Road in the Elegant Els Estate Section. Located at 210 El Vedado Road, this classic Palm Beach residence features 8,811 SF of living area with 18 rooms in total including 8 bedrooms, 8 bathrooms and 1 half-bath.
Step inside this elegant Venetian-inspired villa located the prestigious El Vedado Road in the Elegant Els Estate Section. Located at 210 El Vedado Road, this classic Palm Beach residence features 8,811 SF of living area with 18 rooms in total including 8 bedrooms, 8 bathrooms and 1 half-bath. The home is designed around a central courtyard that features a pool and cabana which can also double as a separate guest house. 210 El Vedado Road also features staff quarters, formal dining room, elevator, 3-car garage, and stunning detail throughout including exposed beam ceilings and ornate woodwork. The villa is also walking distance from Worth Avenue, Palm Beach's main shopping district. 210 El Vedado Road is currently listed for $14,250,000 with Debbie Caplenor of Sotheby's International Real Estate.
Stantec Releases New Renderings of Park-Line Miami and Park-Line West Palm Beach
Park-Line Miami and Park-Line West Palm Beach have released new renderings of their future lobbies designed by Stantec. Both Park-Line branded residential projects are located next to the All Aboard Florida Brightline Train Stations, helping further connect the South Florida city centers and allowing residents to seamlessly travel between Miami, Fort Lauderdale and West Palm Beach.
Park-Line Miami and Park-Line West Palm Beach have released new renderings of their future lobbies designed by Stantec. Both Park-Line branded residential projects are located next to the All Aboard Florida Brightline Train Stations, helping further connect the South Florida city centers and allowing residents to seamlessly travel between Miami, Fort Lauderdale and West Palm Beach. Park-Line Miami was designed with a “the timeless traveler," featuring rich leathers inspired by antique luggage and travel bags, warm woods, creamy neutral tones, and deep blues are incorporated to create a sophisticated and inviting environment. Stantec will also design Park-Line Miami’s residential units, and amenity deck, which will feature a yoga pavilion, dog park, running track, movie screening area, and a resort-style pool. The twin towers located in MiamiCentral have just begun vertical construction. Park-Line West Palm Beach's design will feature tones of rich purple complemented by warmer tones of yellow and a dripping diamond tile wall that gradients from purple to gold and silver tones. Amenities at Park-Line West Palm Beach will feature a game room, dog park, and dog spa. Bother towers are under development by Florida East Coast Industries (FECI). Park-Line West Palm Beach is expected to be completed in 2018 and Park-Line Miami is expected to be completed in 2019.
“The All Aboard Florida train and the residential towers are monumental in transforming the lives of commuters in South Florida,” said Susan LaFleur, director of hospitality and residential interiors for Stantec’s Miami office. “Our goal is to create a welcoming feeling for residents by implementing rich design and timeless sophistication.”
Featured Listing: Walk the Grounds of Palm Beach's $115 Million Estate Il Palmetto, The 2nd Most Expensive Home in Florida
A property rich in history that has stood the test of time can be all yours for a cool $115 million. Il Palmetto in Palm Beach was originally built in 1930 by architect Maurice Fatio before being meticulously restored by Fairfax and Sammons, who maintained the stunning detail of the estate. The main house features 10 bedrooms, 14 full-bathrooms and 12 half-baths over 60,352 SF. It features a 2-story grand foyer, formal dining room, chef's kitchen, butler's pantry, family room, indoor theater, billiard room, library, office and pavilion, all circling a courtyard which is connected to a pool. The home also features a 20,000-bottle, limestone wine cellar; 2 elevators, gym, spa, secondary 1,000 bottle wine cellar, and a large master suite. Il Palmetto sits on 5.46 acres and stretches between Lake Worth Lagoon and the Atlantic Ocean. A private, underground tunnel allows access under A1A to another 2 bedroom, 3 bathrooms beach house with an oceanfront infinity pool. On the other side of A1A is a lakefront boathouse complete with 2 more bedrooms and full bathrooms. Il Palmetto is a once-in-a-lifetime opportunity for an ultra-rich buyer looking for complete privacy on the sunny shores of Palm Beach. Il Palmetto is currently listed for $115 million with Cristina Condon of Sotheby's International Realty.
Tour the Historical Palm Beach Estate Built by Howard Major in 1928 That Just Sold for $15 Million
A historical Palm Beach mansion built by Palm Beach architect Howard Major in 1928 has sold for $15 million. The mansion covers 10,501 SF spread over 7 bedrooms, 9 bathrooms and 2 half-bathrooms as well as an additional 3 bedrooms for staff. The home also features a chef’s kitchen, butler pantry, a library, exercise room, an elevator, a two-car garage and a saltwater pool. The home is one of the most magnificent historical homes in Palm Beach, located at 124 Via Bethesda. Howard Major designed the mansion in a “Creole” French Classical design with ornate features including a coral block coquina exterior quarried from Cuba, walnut paneling from a 17th century French chateau, and marble floors from the early 1600s. The home was listed with Ashley Mcintosh of Douglas Elliman and the buyer was represented by Chris Leavitt of Douglas Elliman.
“124 Via Bethesda represents one of the few remaining historic gems left in Palm Beach County. My buyer searched high and low for a classic home featuring the old world elegance that Palm Beach is known for and very hard to replicate,” said Chris Leavitt of Douglas Elliman who represented the buyer.
Florida East Coast Industries Announced Park-Line Residential Rental Residence Brand to Launch at MiamiCentral & Palm Beach
Capitalizing on the new connectivity that the Brightline will be bringing to South Florida, Florida East Coast Industries (FECI) has announced that they will debut their new residential property brand, Park-Line, at MiamiCentral and Palm Beach. The brand will launch in 2018 with a 290-unit tower in downtown West Palm Beach, followed by two towers with a total of 816 units at MiamiCentral in 2019. The Park-Line brand will be an integral part of FECI’s dynamic, transit oriented developments transforming South Florida.
“Park-Line residences are designed for people on the move who want to live and travel smarter,” said Daniel Quintana, Vice President of Development for Florida East Coast Industries. “Each of the innovative towers in West Palm Beach and Miami will expand residents’ playground and working options by utilizing a vast variety of transit options just steps away from their front door, including our new Brightline train service that will seamlessly connect Miami, Fort Lauderdale and West Palm Beach.”
Residences at Park-Line properties will come in studio, one and two bedroom floor-plans in West Palm Beach and studios, one, two and three bedroom apartments in MiamiCentral. Every residence will be highlighted by floor-to-ceiling windows, classic designer finishes and a collection of unparalleled amenities. Amenities will include a full-service poolside lounge; open-air cross training course; yoga lawn and fitness center with juice bar; private cabanas with outdoor grills and intimate seating areas; shaded dog parks and pet grooming salon; event lawn with movie screen and full social calendar of resident events. Unique to the MiamiCentral location, residents will have direct access to 180,000 SF of retail space including Miami’s first true food hall experience, Central Fare. The Park-Line residences will be located within steps of the Brightline express intercity train service connecting Miami, Fort Lauderdale and West Palm Beach with new downtown stations. Park-Line in West Palm Beach will launch in 2018, followed by the MiamiCentral location in 2019.
Bal Harbour Shops has unveiled its fully leased, 200,000-square-foot West Shops expansion, with 30 luxury boutiques and flagship stores and openings continuing through 2028.