Widow of New York developer sells Palm Beach mansion for $32M

Widow of New York developer sells Palm Beach mansion for $32M

Rachel Rudin , the widow of New York real estate investor Lewis Rudin , sold her Palm Beach mansion for $31.8 million.

The 10,605-square-foot home at Seven La Costa Way was purchased by the La Costa Way Trust, with Andrew Cooper of New York-based wealth management firm AJ Wealth as trustee. First Republic Bank provided a $20 million mortgage to the buyer. Lawrence Moens of Lawrence A. Moens Associates represented the seller in the deal, while Lilly Leas of Brown Harris Stevens worked with the buyer.

The price equated to $2,999 a square foot.

The Rudin family built the home on the 0.83-acre site a block east of the Intracoastal Waterway in 1996. It was their homestead property.

The home features seven bedrooms, eight bathrooms, three half-bathrooms, a pool, and a fireplace.

Rudin Management Co. was founded in 1925 and oversees 16 residential buildings and 16 commercial buildings in New York City, according to its website. Its building at 345 Park Ave. hosts the headquarters of the NFL. Lewis Rudin died in 2001.

There has been a huge run of home sales in Palm Beach over the past year as more wealthy people move to the town, pushing prices even higher.

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