A New York private equity chief paid $35.6 million for a renovated Palm Beach mansion.
Jeffrey T. Leeds, and his wife, Elizabeth Leeds, bought the 11,567-square-foot mansion at 134 El Vedado Road through an entity named after the address, according to records. Randolph De Lano and Tamara De Lano, both as individuals and as trustees of the Delano Family Revocable Trust, sold the property.
Leeds is the founder and president of New York-based Leeds Equity Partners. In 1985 and 1986, he was a law clerk to Supreme Court Justice William J. Brennan Jr, according to his wedding announcement in The New York Times. Rudy Giuiani officiated the couple’s 2012 wedding.
The deal was completed off-market.
The De Lanos bought the property in January of last year for $13.6 million, and renovated the home since then, according to records. They contracted with Tim Givens Building & Remodeling to refurbish the interior and exterior.
The mansion has seven bedrooms, five bathrooms and two half-bathrooms, and sits on a 1.3-acre lot one block from the ocean, according to Realtor.com.
The sale marks continued demand for luxury homes in Palm Beach.
Throughout South Florida, the number of residential sales of $10 million or more rose exponentially from December 2020 to November, topping that of the previous two years combined, according to an analysis by The Real Deal.
Even over the past few weeks, several high-priced Palm Beach homes traded for large sums.
An oceanfront spec mansion sold for $41 million, changing hands from Jagbir Singh to 1700 South Ocean Boulevard LLC, managed by real estate attorney Robert S. Raynes Jr.
Last month, Valerie Winchester sold the mansion at 200 Clarke Avenue for $25 million to Rancince C. Purcell, as trustee of the Francince C. Purcell Declaration of Trust.
And a Palm Beach penthouse and cabana at 2 North Breakers Row sold for $17.7 million, marking a record price for a condo sale.