A hedge fund from New Jersey bought a beachfront mansion in North Palm Beach for $14 million.

Records show Robert and Lori Zoellner bought the Portage Landing South home in 1977 from Steve and Dana Herweck.

Rob Thomson of Waterfront Properties has the listing.

Robert Zoellner is CEO of Alpine Associates Management, a hedge fund based in Englewood Cliffs, N.J., founded by his late father, Robert Zoellner, Sr. .) and mother Victoria Zoellner (Victoria Zoellner) in 1976. The firm has 12 clients and $3 billion in assets under Whale Wisdom management.

Zoellner Sr. was a benefactor of Rihigh University and bears the same name as the school’s Zoellner Atrium. He also collected stamps and assembled a complete set of US postage stamps issued between 1847 and 1947. The stamps were reportedly auctioned in 1998 for more than $8 million. Bloomberg.

Another son of Zoellner was renowned tennis coach Gordon A. Uehling III, who New Yorker In 2015, he took a tech-savvy approach to his 48-acre estate and tennis facility in Alpine, New Jersey. Uehling has coached tennis champions Novak Djokovic and Mattia Pekotiche was also an executive at Wexford Real Estate Investors in Palm Beach.

Robert Zoellner and Lori Zoellner are not tennis champions, but she is a professional equestrian. The couple sold their 150-acre equestrian estate in Millbrook, New York, for $8.5 million in 2020, according to Facebook and Sotheby’s International Realty.

Steve Herweck is the CEO and Founder of Atrium Medical, a full-service primary care medical company in New York City. He also holds several medical patents, according to Justia Patents.

The Herwecks bought the 0.7-acre Portage Landing home in 2011 for $5 million. Records show the 9,400-square-foot mansion was built in 1995 and has five bedrooms and 10 bathrooms. The property includes a newly renovated kitchen, a swimming pool and a marina that can accommodate a 100-foot yacht, according to the listing.

The couple first listed the property for $17.5 million in December and lowered the asking price to $15 million in January, according to Redfin. price drop has become a regular feature in South Florida in response to slowing sales.

Other recent luxury home sales in North Palm Beach include $25 million earlier this month.A Midwestern car dealer sells her beachfront mansion $10.9 million November.The estate of a late foodservice tycoon $22 million Last March.

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