Million-Dollar Listings: Landmarked House Brings $8M in Palm Beach’s Estate Section

UPDATE: Owners Sell Palm Beach House for Nearly $10M; Sale is Linked to $6.5M Condo Deal at The Bristol, Deeds Show

By Darrell Hofheinz, Daily News Real Estate

Steven and Melanie Hudson have sold 309 Dunbar Road to Christopher and Margaret Sinclair. In a related deal, Steven Hudson’s company just bought a furnished condo at The Bristol in West Palm Beach.

Melanie and Steven K. Hudson sold their house on the North End after a company controlled by him bought a never-lived-in 11th-floor condominium across the bridge at The Bristol on the West Palm Beach waterfront, courthouse records show.

The two sales total about $16.39 million.

Steven Hudson, a private equity specialist and entrepreneur, sold for $9.887 million the five-bedroom house he bought about about two years ago at 309 Dunbar Road, according to the deed. His wife “joined” him in the sale, the document shows.

The house — completed in 2016 as a custom home — has 7,169 square feet of living space, inside and out, property records show.

The buyers were Christopher A. and Margaret D. Sinclair, who downsized. In June, the Sinclairs sold, for a recorded at $24.4 million, the custom home they built and had homesteaded at 516 S. Ocean Blvd. A trust was on the buyer’s side of that deal.

Christopher Sinclair is chairman of the board of Reckitt Benckiser, a British company that produces consumer health and household products  such as Lysol and Woolite.

Via a deed recorded Aug. 27, Steven Hudson’s ownership company paid a recorded $6.5 million for Unit 11B, also known as Unit 1102, at The Bristol. The apartment was furnished, and the furnishings changed hands as part of the sale.

Listed at $9.5 million — including the furnishings — the apartment was one of the last still owned by the developer of the 68-unit, ultra-luxury tower completed last year at 1100 S. Flagler Drive.

Hudson’s Florida limited liability company, TB11B PBFL LLC, bought the three-bedroom condo from Flagler Investors LLC, which developed the 24-story tower, the deed shows. The apartment has 3,826 square feet and sold for $1,699 per square foot.

Hudson signed a 30-year, $5-million mortgage on the condo as the managing member of TB11B PBFL LLC, courthouse records show. CIBC Bank USA provided the financing.

Hudson is the founding chief executive officer of ECN Capital, a Toronto-headquartered company with an office in West Palm Beach. ECN split from Element Financial Corp., where  he had served as CEO. That company billed itself as North America’s largest independent equipment-finance firm and one of the world’s largest fleet-management companies.

Hudson, a former investment banker, also founded and serves as principal of Toronto-based Cameron Capital Corp., a private equity firm.

Read the full story …

Previous Post
Palm Beach Real Estate: Vacant Lot Brings $11.98M on North End Beachfront
Next Post
Million-Dollar Listing: Seaside Condo Fetches $6.8M in Palm Beach’s Dunster House, Deed Shows
Menu