When a trust bought an ocean-to-lake estate at 1840 S. Ocean Blvd. in June, the recorded price was an eye-popping $109.63 million, previously reported by the Palm Beach Daily News as the second-priciest-ever sale in town.
But nearly as remarkable as the price was the amount of the loan secured by a mortgage filed simultaneously with the deed. At $65.78 million, the mortgage total was notable in its own right.
And thanks to the latest monthly mortgage report issued by the Rabideau Klein law firm, we learned that mortgage was the most expensive recorded at the Palm Beach County Courthouse during June.
The mortgage — issued by UBS Bank USA — held another distinction, too: “For the first time in the history of this Palm Beach County mortgage brief, the largest mortgage of the month was residential rather than commercial,” said the Million Dollar Mortgages report’s summary.
The Palm Beach law firm has published the report since at least 2014, said attorney Guy Rabideau. The reports are compiled from public records at the county courthouse.
Trailing the mortgage at 1840 S. Ocean Blvd. was another recorded in June at $62.47 million, issued by Avenir Development LLC to Avenir Holdings LLC. The latter is developing the Avenir mixed-use project in Palm Beach Gardens and just bought 445 acres on Coconut Boulevard for $69.41 million, the report said.
From the archives: Report shows county’s biggest mortgages in March included trio in…
