A limited liability company with the memorable name of 107 Man Cave LLC has paid a recorded $17.545 million for a house built in the late 1990s near the inlet on the North End of Palm Beach.
The purchase of the house at 107 Indian Road is linked in public records to an oceanfront estate next door owned by private-equity and real estate specialist Albert “Al” Rabil III and his wife, Tamara. They bought their 3.36-acre estate at 101 Indian Road through a trust for $49 million in 2017, courthouse records show.
The just-closed purchase of the house at 107 Indian Road — on a lot measuring nearly a half-acre— effectively squares off the Rabils’ estate between North Ocean Boulevard and the beach.
The company that bought No. 107 in an off-market deal is affiliated with Tamara Rabil’s mother, Martha M. Rogers, according to state business records.
This house at 107 Indian Road on the far North End of Palm Beach just sold privately for a recorded $17.545 million in a purchase linked in public records to the oceanfront estate next door.
The deed recorded Jan. 9 lists the mailing address of 107 Man Cave LLC as the Boca Raton office of Kayne Anderson, an investments firm founded by Albert Rabil, who serves as its CEO. Kayne Anderson company is described on its website as an “alternative investment management firm” that specializes in the real estate, credit, infrastructure and energy sectors.
Built in 1997, the house that just changed hands was sold by the estate of the late Lorrie S. Fromson, who died in in July at age 78. The deed shows that North Palm Beach estate-planning attorney Charles T. Weiss sold the house as trustee of a trust in Fromson’s name and as personal representative of her estate.
Fromson paid a recorded $4 million for the house in July 2015, property records show. With 5,477 square feet of living space, inside and out, the residence stands at the northeast corner of Indian Road and North Ocean Boulevard.
Broker Christian Angle of Christian Angle Real Estate handled both sides of the latest sale, he confirmed. He declined to comment further.
Angle also represented the Rabils when they bought their estate new in January 2017. Built in 2016, their eight-bedroom house encompasses 26,360 square feet and looks out to about 140 feet of beachfront that includes a federally protected dune parcel. The British Colonial-style house is the fifth one south of the inlet.
Tamara and Albert Rabil III paid a recorded $49 million in 2017 for their oceanfront estate, center, at 101 Indian Road in Palm Beach.
The 2017 transaction at the time marked the highest-dollar sale ever recorded for a house built on speculation in Palm Beach, property records show. It also set what was then a record for the highest-dollar purchase of any property north of the Palm Beach Country Club. Both records have since been eclipsed.
Agent Cristina Condon of Sothey’s International Realty negotiated opposite Angle in the 2017 sale.
The Rabils’ house was developed and sold by an investment group that included among its members Boca Raton-based real estate developer Robert G. Fessler and Palm Beach real estate broker Lawrence Moens of Lawrence A. Moens Associates.
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This is a developing story. Check back for any updates.
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call 561-820-3831 or tweet @PBDN_Hofheinz. Support our journalism. Subscribe today.
This article originally appeared on Palm Beach Daily News: Palm Beach house buy for $17.55M is linked to seaside estate next door