A extensively renovated early 1960s home recently sparked a bidding war on the north side of Palm Beach, selling for above its asking price of $10.4 million.
The eight-bedroom property at 285 Colonial Lane sold for a record $10.9 million after listing for $10.4 million in early April.
With 6,806 square feet of living space, both indoors and outdoors, the home and guest cabana last changed hands in early 2020 for $4.3 million, property records show. That was just a few months before the coronavirus arrived in Palm Beach, forcing emergency measures before sparking a real estate boom that has sent prices soaring in recent years.
The sellers in the transaction registered on June 4 are a married couple, Alexandr Khizver and Beth Lesniak, both of whom have experience in the private equity sector. They bought the house after it had been renovated from top to bottom by the previous owner.
This month’s deed lists the buyers as Steven Kaitz and his wife Suzanne, who have ties to Greater Boston. His resume includes years of experience as co-owner and co-CEO of his family business, National Lumber Co., based in Mansfield, Massachusetts. With several divisions, the company touted itself as New England’s largest independent supplier of building materials and experts in construction-related services.
In 2022, National Lumber Co. a subsidiary of Builders FirstSource, which bills itself as the largest U.S. supplier of building materials, prefabricated components and services for professionals in the new home construction and home repair and remodeling industries.
The home the Kaitzes just purchased is the second home east of North Lake Way on a lot of about a third of an acre several blocks north of the Palm Beach Country Club.
“The unique character of the house and all of the bedrooms has really captured the interest of several buyers and potential buyers,” says real estate agent Gary Pohrer of Douglas Elliman Real Estate in Palm Beach.
Pohrer added that he had received multiple offers on the property.
Boca Raton agent Samantha Bender of Lang Realty represented the buyers in the deal that closed May 31.
Bender and the Kaitzes declined to comment and the sellers could not be reached.
The sellers purchased the home in January 2020 from a Florida limited liability company associated with Ariel Wainer, a Miami-based distributor of high-end appliances. The renovation included a state-of-the-art Italian-designed kitchen by MiaCucina, well-appointed bathrooms and other high-end upgrades, Wainer told the Palm Beach Daily News when the home hit the market in 2019.
The renovation opened up the floor plan to better accommodate gatherings while adding bedrooms on the second floor, Wainer said at the time.
The backyard has a pool and spa, along with the one-bedroom guest cabana.
Although the home was completely renovated, Pohrer noted on the listing that recent improvements include new lighting fixtures, outdoor loggia screens, fresh landscaping, surveillance cameras and smart home devices.
Residents of the street also have access to a beach cabana nearby.
On the seller side, Lesniak is a managing partner at Norwest Equity Partners, which has offices in West Palm Beach and Minneapolis, its website shows. She previously worked at Gray Mountain Partners in Boulder, Colorado, the same company where her husband held a leadership role, according to online biographical sketches.
Pohrer also acted on behalf of Lesniak and Khizver when they purchased the home in 2020. Representing Wainer’s interests in that deal were agents Toni Hollis and Gloria Moré of Waterfront Properties & Club Communities.
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly column “Beyond the Hedges.” He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call 561-820-3831 or tweet @PBDN_Hofheinz.
This article originally appeared on Palm Beach Daily News: Bidding war for Palm Beach home ends with sale above asking price
