‘A WON­DER­FUL HOME’

Real es­tate in­vestor Bill Fotino is sell­ing the Mid­town town­house where he was re­sid­ing.

Palm Beach Daily News - - TODAY - By CHRIS­TINE DAVIS

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.

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