Hedge fund executive buys new Palm Beach mansion for $30.7M

Hedge fund executive buys new Palm Beach mansion for $30.7M

Jason Capello , the head of hedge fund Mgate Capital, paid $30.72 million for a new mansion in Palm Beach.

The 8,981-square-foot home at 1404 N. Lake Way was sold by 1404Northlake LLC, managed by real estate investor George P. Taylor and Nedim Soylemez in Palm Beach. The price equated to $3,421 per square foot.

The home was built on a 0.55-acre lot along the Intracoastal Waterway. The developer bought the land for $8.9 million in 2018.

According to a listing on Realtor.com by Chris Deitz of William Raveis Real Estate, the home features six bedrooms, seven bathrooms, a new dock for a boat of up to 120 feet, a media room, a wine cellar and a pool.

This deal continues the run of financial executives buying mansions in Palm Beach over the past year.

Capello, a resident of Greenwich, Connecticut, is chief investment officer of Mgate Capital, which makes investment in real estate and venture capital deals. He was previously chief investment officer and managing partner of Gate Asset Management in New York.

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