CEO from New York buys North Palm Beach mansion for $11M

CEO from New York buys North Palm Beach mansion for $11M

Kelly A. Brannen , CEO of Niagra Falls, New York-based manufacturing firm Niacet Corp., and his wife, Joanne M. Brannen , paid $11 million for a lakefront mansion near North Palm Beach.

Donald R. Kurz , part of the family that has owned Bala Cynwyd, Pennsylvania-based Keystone Shopping Co. for over 100 years, and his wife, Shirlyn B. Kurz , sold the 6,093-square-foot home at 10998 Beach Road in the Lost Tree Village neighborhood. The off-market deal traded for $1,805 a square foot.

While the Kurzes listed the home as their homestead property, their address on the deed was the headquarters of Keystone Shipping.

The home was developed on the 0.56-acre lot in 2015. This is the first time it has sold.

It features four bedrooms, 5.5 bathrooms, a pool, and marble floors.

Kelly Brannen has remained CEO of Niacet Corp., a developer and manufacturer of preservatives in the food, meat and pharmaceutical spaces, after the company’s $1.01 billion acquisition by Ireland-based Kerry Group earlier this year. His father, the late Michael Brannen, bought Niacet in 1978.

County records also show the Augusta K. Brannen 2012 Trust, with Kelly and Joanne Brannen as trustees, paid $5.06 million Dec. 8 for a home at 11710 Tulipa Court, Palm Beach Gardens.

This continues the trend of business leaders from high-tax states buying homes in Palm Beach County over the past year.

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