‘A WONDERFUL HOME’
Real estate investor Bill Fotino is selling the Midtown townhouse where he was residing.
Palm Beach has a wellearned reputation as a place where property values tend to escalate. And that makes the island attractive not only to owners who reside in the homes they buy — with the hope of some day selling them at a higher price — but also for real estate investors who may not ever be end-users of the properties they buy.
Investor and Palm Beacher Bill Fotino’s approach to property here combines a little bit of both viewpoints.
“I like to live in my houses to understand them,” he says.
Fotino’s last project was a house at 230 Atlantic Ave., which he bought in September 2015 for $3.75 million and sold nine months later for $3.88 million, according to the prices recorded at the courthouse. His latest listing is a Mediter- ranean-style townhouse at 118 Hammon Ave., one of three properties he owns on the island. He bought the home on the ocean-block property — one street south of Worth
With six bedrooms and five-and-a-half-baths, 118 Hammon Ave. has 6,321 square feet, inside and out, and a heated pool.
Bill Fotino bought the Mediterranean-style townhouse on the ocean-block property one street south of Worth Avenue in 2013 and rented it out until a year ago, when he moved in.