For­mer gu­ber­na­to­rial can­di­date in­vests in is­land

Demo­crat Philip Levine among group that paid $9 mil­lion for dou­ble lot on North End.

Palm Beach Daily News - - TODAY -

Palm Beach de­vel­oper Todd Michael Glaser and an in­vestor group that in­cludes for­mer state Demo­cratic gu­ber­na­to­rial can­di­date Philip Levine are be­hind the com­pany that just paid a recorded $9 mil­lion for an over­sized prop­erty on the North End.

Glaser said he and his in­vestors plan to de­velop two houses on spec­u­la­tion at the prop­erty at 111 At­lantic Ave. The prop­erty mea­sures three-quar­ters of an acre with a house on its eastern half and a va­cant lot to the west.

The prop­erty has a fa­mous neigh­bor. It’s across the street and catty-corner from the sea­side house rocker

Jon Bon Jovi bought in March, us­ing an own­er­ship com­pany, for $10 mil­lion. Bon Jovi’s house, at 230 N. Ocean Blvd., is on the corner of At­lantic Av­enue.

Three lots west of the ocean, the prop­erty at

111 At­lantic Ave. was sold in an off-mar­ket deal by San­dell Corp., a com­pany reg­is­tered in the Bri­tish Vir­gin Is­lands. Laila Ghan­dour signed the deed as a direc­tor of the com­pany, which has an ad­dress in care of the Zielin­ski & Boyd ac­count­ing firm in West Palm Beach.

San­dell Corp. had paid $1.385 mil­lion for the prop­erty in 1990, ac­cord­ing to court­house records.

Glaser said he hasn’t worked with Levine — a for­mer mayor of Mi­ami

Dar­rell Hofheinz

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