Canadian entrepreneur drops $8.8M on Palm Beach home
New owner founded and runs Angelcare, a baby monitor and baby care company
October 24, 2016 04:37PMBy Katherine Kallergis
1632 South Ocean Boulevard. Inset: Maurice Pinsonnault
A Palm Beach philanthropist sold her waterfront Billionaires Row home to the head of a large Canadian baby products company for $8.75 million, or $1,312 per square foot.
Records show Flora Heilweil, who owned the home with her late husband Jerry Heilweil, sold the property at 1632 South Ocean Boulevard to Maurice Pinsonnault, owner and CEO of Angelcare, a baby monitor and baby care company.
The 6,671-square-foot, four-bedroom house was built in 1955 and restored in 1995. It sits on a 0.66-acre lot.
Property records show the Heilweils paid $1.7 million for the home in 1995. The Fite Group’s Thor Brown put it on the market in March for close to $13 million, then chopped the asking price to nearly $11 million.
Jerry Heilweil, who died in 2011, was chairman and president of JP Heilweil Industries.
The property includes beachfront across South Ocean Boulevard, and in the home a grand living room with parquet floors, columns and a marble fireplace, according to the listing. Previous owners include Josef M. Issels, a German doctor who created the Issels treatment, a controversial alternative cancer treatment that has since been ruled ineffective.
No financing has been recorded for the buyer, Maurice Pinsonnault Management Inc.
Neighbors on Billionaires Row include Ken Griffin and the late vice chairman of Lazard Freres & Co.
Source: The Real Deal