The co-founder of a New York-based private equity firm bought an oceanfront Palm Beach 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 seller is 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.
Records show Kurtz bought the 9,025-square-foot mansion in 2017 for $17 million. It was built in 1995.
He listed the house in May of last year for $36.5 million. The most recent asking price was $38.5 million in September. Jim McCann of Premier Estate Properties represented the seller. Dana Koch of The Corcoran Group represented the buyer.
The mansion has six bedrooms and eight-and-a-half 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.
Palm Beach’s luxury market has been on fire in recent months. 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.