Hedge fund executive’s trust sells Palm Beach mansion for $24M

Hedge fund executive’s trust sells Palm Beach mansion for $24M

A trust led by Mark T. Massey , head of Beverly, Massachusetts-based hedge fund Altarock Partners, and his wife Elisabeth A. Massey sold a Palm Beach mansion for $23.85 million.

The ChubbyChooChoo Trust, with the Masseys signing the deed and listed as the homestead property owners, sold the 5,194-square-foot home at 101 Gulfstream Road, a block west of the beach. The buyer was 101 Waters Edge LLC, which listed the same Chicago address and suite number as Bardes Interiors, an interior design firm led by Cynthia Bardes Galvin , as well as the Mary B. Galvin Foundation, named after her mother. Bardes Interiors also has an office in Palm Beach.

In 2016, the Galvin family donated $10.25 million to Northwestern University. Her late father, Robert W. Galvin , was the former chairman and CEO of Motorola.

Christian Angle of Christian Angle Real Estate represented the seller in the deal, while Pat McInerney of Brown Harris Stevens worked with the buyer. The price equated to $4,592 a square foot.

The home last traded for $13.53 million in 2020, so it had a significant gain in value amid the surge in demand for homes in Palm Beach as more wealthy people flock to the town. The home was built that same year by Palm Beach-based Frisbie Group.

Situated on a 0.32-acre lot, the home has five bedrooms, 7.5 bathrooms, a media room, a bar, a fitness room, and a pool.

As for the seller, Massey and Altarock Partners are major investors in tech companies like Alphabet, Amazon.com, Facebook and Microsoft.

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