An 80-year-old house under renovation on Palm Beach’s North End has changed hands for $9.423 million, the price deed recorded last week with the deed. The property at 991 N. Lake Way found its new owner within a few days after being listed for sale, according to the local multiple listing service.
Christopher Furlo, who has family ties to Palm Beach and Michigan, sold the house as co-trustee of three trusts in his name and the names of his two brothers, Louis J. Furlo Jr. and Paul William Furlo, according to the deed recorded May 6.
A trust also was on the buyer’s side of the deal. Attorney Paul A. Krasker acted as trustee of the 991 N. Lake Way Trust. Because of rules governing trusts, no other information about anyone else associated with the land trust was immediately available in public records.
The house last changed hands for $4.65 million in late December 2017, when co-trustee Christopher Furlo bought it from Joan Alleman, who had been lived there for more than 20 years. Furlo and his wife, Stephanie, began planning renovations soon after that sale, construction records show.
The Bermuda-inspired house was designed in 1940 by prolific Palm Beach architect John L. Volk for George Wendell Phillips Sr. and his wife, Loretta, who was known as Lala, according to architectural and social historian Augustus Mayhew. The family counted Boston’s first mayor, John Phillips, among its ancestors.
With classical details, the house stands on a lot measuring about a third of an acre at the corner of Eden Road, five streets north of the Palm Beach Country Club. The house is across the street from direct access to the Lake Trail, and the neighborhood also has private beach access.
Brown Harris Stevens agent Gregory K. Weadock had the listing, which entered the MLS April 22 at $12.725 million. The sale closed April 30.
Weadock’s listing said construction would likely be finished before October. The house features high ceilings, generously sized rooms and second-floor views of the lake, according to the listing.
Weadock, who declined to comment, also handled the buyer’s side in the 2017 sale, MLS records show, opposite agent Wally Turner of Sotheby’s International Realty.
In the transaction recorded last week, agent Allison Kavanaugh Wren of Premier Estate Properties represented the buyer. She had no comment about the deal.
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Christopher Furlo and his brothers’ professional resumes include executive positions at their family’s venerable business-services, event planning and incentives firm, Morley Cos., of Saginaw, Michigan, which for years was headed by their late father, Louis J. Furlo Sr.
The Furlo family also owns a landmarked house at 840 S. Ocean Blvd. Christopher Furlo couldn’t be reached.
Darrell Hofheinz writes about real estate in his weekly “Beyond the Hedges” column. He welcomes news items about Palm Beach real estate for this column. Email [email protected], call 820-3831 or tweet @PBDN_Hofheinz.