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Retired tennis pro Vince Spadea joins Douglas Elliman Former USA Olympic team member is working out of Palm Beach office TRD MIAMI / February 19, 2019 08:45 AM By Katherine Kallergis A former top-20 American tennis player is swinging into a new career. Ex-USA Olympic team member Vince Spadea joined Douglas Elliman in Palm Beach with goal of capitalizing on his contacts from the professional tennis world and the entertainment industry. In the Los Angeles area, Spadea also owns an entertainment agency. Spadea received his real estate license in the fall and decided to join Elliman in part because the brokerage owns all of its offices, which “allows me to do referrals in New York, Los Angeles and all the places I’ve lived,” he said. Elliman’s partnership with Knight Frank also contributed to his decision. Spadea, an American Tennis Association player who earned tennis prizes exceeding $5 million, stopped playing professionally in 2011. He now coaches tennis in Beverly Hills and Palm Beach, and has his entertainment agency in California. Over the course of his professional tennis career, Spadea beat Roger Federer, Andre Agassi, Andy Roddick and others. Elliman has expanded its presence in Palm Beach, acquiring Pink Palm Properties in Boca Raton last year, and Tauriello & Co. Real Estate in Delray Beach in 2016. |
| What was once the highest-listed home for sale in Palm Beach, Florida, at $84.5 million sold Monday for $40.87 million, nearly half its original listing price. The custom-built, oceanfront mansion first listed in March 2015 and has seen several price cuts since then, Mansion Global has previously reported. The house was reduced to $79.5 million, $74.5 million, $69.9 million, $64.9 million, and $59.9 million before closing at $40.87 million, according to listing records. Real estate lawyer Alan J. Ciklin confirmed that he purchased the property through Reiwa LLC. Ashley McIntosh, Gary Pohrer and Vince Spadea of Douglas Elliman took over the listing in March 2019. “You’ve got a house that’s roughly 35,000-square-feet with a basement level that includes a bowling alley, game room, arcade room, also a massage room, and a gym,” Ms. McIntosh said. “I think the square footage was not distributed for everyone’s liking,” she added of why the house hadn’t sold until Monday. Additionally, the house features a wine room, wet bar, and walk-in closets. Outside, there is a kitchen and salt water infinity pool offering ocean views. More: Manhattan Home Sales Surge Ahead of Mansion Tax Hike Records show the previous owners, Philadelphia lawyer and charter school entrepreneur Vahan Gureghian and his wife, Danielle, also a lawyer, purchased the property through a trust in 2011 for $12 million. The couple purchased two side-by-side lots, combined them, and built the eight-bedroom and 12-bathroom house, which is very similar to the one they own in Philadelphia, Ms. McIntosh said. Three quarters of the way through construction, the couple decided not to move in because they wanted to be on a different part of the island instead, she added. Property records show that the house was completed in 2016. Mr. Gureghian did not immediately respond to a request for comment. Palm Beach has been a longtime home to the rich and famous, including Netscape founder James H. Clark, hedge fund manager Ken Griffin and, until recently, Broadway producer and socialite Terry Allen Kramer. Ms. McIntosh said that the high-end Palm Beach real estate market has been heating up lately, having closed roughly $180 million in deals within the past three weeks. Ms. McIntosh added that her clients tend to be from the Northeast of the U.S. and between the ages of 60 and 80. “I think it definitely has to do with tax laws changing, and people migrating from the north for that reason,” she said. From Penta: Resto Mods: Classics You Can Get In and Drive The Tax Cuts and Jobs Act of 2017 created a $10,000 limit on state and local tax deductions for homeowners. Top earners from states with higher taxes, including Northeastern states like Massachusetts, New Jersey and New York, no longer have the benefit of the full federal deductions. |
| Palm Beach-based real estate agents were honored for their 2019 sales achievements during Douglas Elliman Real Estate’s national |