Oceanfront Ourisman Condo Unit Fetches $6.4M

Palm Beach Daily News Saturday, April 21, 2012

Darrell Hofheinz
Press Photo Press Photo

Two weeks after she closed a deal for a new home on Palm Beach’s South End, former U.S. Ambassador Mary M. Ourisman and her businessman husband, Mandell “Manny” J. Ourisman, sold their oceanfront condo in the Kirkland House for $6.4 million, the price listed on the warranty deed recorded Friday by the Palm Beach County Clerk’s office.

The diplomat, who bought the Worth Avenue condo in her name in 2002 for $3 million, was “joined” by her husband on last week’s deed.

The buyers of Unit 4C were retired construction executive Patrick J. and Mary M. Donaghy, who also own a lakefront luxury townhouse at 236 Bradley Place, property records show. In addition, the couple has a public residence in Darien, Conn., according to public records.

The private sale marks the largest deal this year for a Palm Beach condominium listed in the Palm Beach Board of Realtors Listing Service. Property records show that the sale involved the largest amount ever paid for a unit in Kirkland House, 101 Worth Ave. at South Ocean Boulevard.

“It’s such a magnificent apartment – probably the nicest I’ve ever been in,” said agent Bobby Goodnough of Linda A. Gary Real Estate, who represented the Ourismans.

“When something is done to such high quality, people are willing to pay for it. The apartment was worth every penny. There wasn’t another like it.”

Mary Ourisman bought the three-bedroom condominium about six months after the couple wed.

Agent Michael Bellemeur of Waterfront Properties and Club Communities in Jupiter represented the Donaghys in their purchase of the 3,850-square-foot apartment. Describing the unit as “outstanding,” he said that confidentiality agreements prevented him from discussing specific aspects of the deal or his clients.

Born in Ireland, Patrick J. Donaghy Jr. moved to this country in the late 1950s and is the retired chairman and co-founder of Structure Tone. The company and its affiliates offer wide-ranging construction services in the United States, the United Kingdom, Ireland and Asia, according to its website.

Patrick Donaghy also is associated in public records with a company named Favour Rouyale LLC, although the nature of its business is unclear.

The fourth-floor condo affords eastern vistas facing the ocean as well as views to the west of Midtown. In addition to the views, Goodnough said, the apartment’s selling points were its relatively large size, location, and lavish interior finishes created for the Ourismans by the firm of Palm Beach designer William R. Eubanks.

The Ourismans signed two 30-year, $1 million mortgages on the property in December 2002 and August 2003 with Wells Fargo Home Mortgage Inc. The first note was recorded as satisfied in October 2003, but the repayment of the second mortgage was unclear Wednesday, according to county property records.

Linda Gary Real Estate never advertised the property for sale in the two multiple listing services that serve the island. Goodnough instead had been working with Bellemeur on a private sale that came to fruition shortly after agent Cristina Condon of Sotheby’s International Realty had listed the apartment for $6.8 million, he said. Sotheby’s then withdrew the listing.

Condon did, however, represent Ourisman in her purchase of Beatriz Ford’s lakefront house at 300 Regents Park Road, recorded at about $3,82 million on the March 29 deed. The seller’s side of that deal was handled by Carla Christenson, then an agent with Fite Shavell & Associates, who co-listed the property with agents Scott M. Gordon and Samantha Curry.

Ourisman, who was the United States’ ambassador to Barbados and the Eastern Caribbean from 2006 to 2009, served as chairwoman of January’s 55th annual International Red Cross Ball at The Mar-a-Lago Club.

The Donaghys, meanwhile, have listed their three-bedroom townhouse in Villa Plati with Bellemeur for $r million. It has more than 3,000 square feet and affords views of the Intracoastal Waterway and West Palm Beach, he said.

The Ourisman condo sale came on the heels of another sizeable sale this month in the 20-unit building, which was built in 1974 by developer Michael Burrows. James and Kay Morissey sold their second-floor apartment with 4,130 square feet for a recorded $4.97 million to a trust in the name of Philip H. Geier Jr., who acted as its trustee along with his daughter, Hope G. Smith, according to the deed recorded April 11. Agent Jim McCann of the Corcoran Group represented the Morisseys, and agent Mimi Vail of Fite Shavell & Associates acted on behalf of the buyer.

The Ourismans and the Donaghys could not be reached for comment.