Ed Rabin, the former president of Hyatt Hotels Corp., is changing counties: He bought a Palm Beach home for $5.6 million, one month after selling his condo in South Beach.
Records show Edward W. Rabin, individually and as trustee of a trust in his name, bought the house at 505 South County Road in Palm Beach from George S. Mann and Carla Harrod. Mann acted individually and as a trustee of The Land Trust No. 1.
Rabin and his wife, Jackie Tyler Rabin, sold their unit at Apogee in Miami Beach in March for $7.5 million.
Ed Rabin started working at Hyatt Hotels Corp. in 1969. He served as president until 2006. Currently, he is on the board of directors of Sally Beauty Holdings, according to its website.
Mann is a Canadian businessman and former director of The Lincoln Savings Bank in New York, according to documents from the U.S. Office of Thrift Supervision. He bought the Palm Beach home in 2002 for $1.8 million, records show.
The property was first listed in 2019 asking $5.8 million. The most recent asking price was $5.9 million in December.
Dana Koch with the Corcoran Group represented the sellers, and Christian Angle of Christian Angle Real Estate represented the buyers.
Property records show the two-story house has two bedrooms and three-and-a-half bathrooms. The 3,378-square-foot home was built in 1950. The backyard, facing the Everglades Club golf course, has a pool.
Other recent home sales in Palm Beach include Frisbie Group, a Palm Beach developer, selling a newly built townhome for $26.1 million; the widow of one of former President Franklin D. Roosevelt’s grandchildren selling a home for $14.1 million; and Sean Hannity buying an oceanfront townhouse for $5.3 million.