Volume 07 | February 2020
The Luxury Missive Of The Palm Beach Hedge Fund Association
News & Views For The Affluent Lifestyle
Mansion Deals Near Mar-A-Lago

While most property on Palm Beach sells very quickly, there are a few relative bargains to be found. Interestingly, these bargains are clustered around the Winter Whitehouse. This article from Bloomberg explains.....

By  James Tarmy

On an almost cloudless, 70-degree winter morning in Palm Beach, Fla., real estate broker Rob Thomson sits inside President Donald Trump’s private club, Mar-a-Lago, reflecting on a banner season. “I’ve been selling real estate for 34 years,” says Thomson, a club member and the owner of Waterfront Properties & Club Communities. “This is the longest bull run of my career.”

Large houses, small houses, empty lots, and mansions: They’ve all flown off the shelf, thanks to the state’s generous income tax rate (0%) and Palm Beach’s international prestige. In the past 12 months, three properties in the town sold for about $100 million each. “We’re seeing people pay more for things than before,” Thomson says.

And yet, there’s one notable cloud on the barrier island’s otherwise sunny outlook: the 10 houses sitting unsold within a half-mile, four-block radius of Mar-a-Lago, which Trump designated his primary residence in September........


Welcome To Palm Beach Pursuits!

Palm Beach Pursuits is the monthly luxury publication of the Palm Beach Hedge Fund Association .

We are committed to bringing the finest in global and local luxury to our affluent membership base of ultra high net worth investors, family offices, hedge fund managers, and alternative asset professionals.

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We work with a wide variety of luxury brands & financial companies who wish to become thought leaders to our affluent members & mailing list.

Sponsorship opportunities of the PBHFA, as well as banner/advertorial promotion on Palm Beach Pursuits are currently available.

Social Pursuits
Announcing A Partnership With The Ritz Carlton Residences!

We are thrilled to announce a partnership with the exclusive and luxurious Ritz Carlton Residences in Sunny Isle Beach!!

Our social held on January 24th was a huge success with hedge fund and money managers mingling with the investor and real estate community of South Florida. New friendships were formed and deals bantered about as we dined on the finest Hor d Oueves and sipped top shelf cocktails provided by the Ritz.

We were fortunate enough to host world reknowned taxation expert Barry Horowitz who shared his vast knowledge on creating a residence and owning property in Florida.

Art Pursuits

Two Major Collections to Pump $1 Billion in 2020 Art Auctions

From Bloomberg

The late financier Don Marron’s collection of modern and contemporary art may be headed to auction, one of two major troves potentially coming to market this year with a combined value of more than $1 billion.
His family asked top auction houses to submit proposals next month, according to people familiar with the matter, who asked not to be identified because the discussions are private. The collection has been valued at about $450 million. The next big round of auctions in New York is in May.

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Yachting Pursuits
New Wally 48 Tender Debuts At Miami Yacht Show!

The Best in Show at the 60th annual Fort Lauderdale International Boat Show sold on the five-day event’s final day.

The Majesty 140 , a tri-deck superyacht made in Dubai, sold for about $20 million, said Greg Terraglio, president of Sovereign Marine Group of Stuart.

“It was Majesty’s debut in the United States," Terraglio said. The Best in Show was determined by NBC Sports.

Philanthropic Pursuits

Transformation Palm Beach Revitalizes Blighted Areas

We love seeing the combination of investment and philanthropy! Transformation Palm Beach is one such project that does tremendous, long term good while providing investment opportunity

The TPBC mission is to create an equitable and sustainable revitalized community in deteriorating areas of Palm Beach County utilizing a market driven approach.

Our TPBC approach was developed through our experience in the revitalization of a small urban
community in Dallas, TX. Our intent is to utilize our practice-based model to improve the quality
of life of current residents and enhance economic stability in selected communities in Palm
Beach County by:
 Reducing crime
 Increasing affordable housing and workforce economic opportunity
 Developing Houses of Hope in targeted census tracts, and
 Stimulating the development safe and self-sustaining urban communities.......

Investment Pursuits

PBHFA Member Fund Manager Emmanuel Lemelson Knocks It Out Of The Park With 150% plus returns In 2019 !
Jan. 21, 2020 (GLOBE NEWSWIRE) --

Lemelson Capital Management, LLC (LCM), today announced financial results for The Amvona Fund, LP (The Fund) for FYE 2019.

The Fund posted net returns of 151 percent for FYE 2019, beating by 480 percent the benchmark S&P 500 Total Return Index,2 which returned 31.5 percent during the same period.

“We concluded 2019 with our highest rate of return and largest investor base ever,” said Fr. Emmanuel Lemelson, LCM’s CIO........

Limited time offer: $6 for 3 months.

Real Estate Pursuits

Condo Planned For Tiffany's Worth Avenue Rooftop
P alm Beach’s architectural gatekeepers have partially approved a plan that would convert the second floor of  the two-story Tiffany & Co. building  on Worth Avenue into an ultra-luxury condominium, a renovation that would add third-floor living space amid an open-air rooftop terrace with a small pool.

But thanks to the way the re-do was designed, nearly everything added to the roof wouldn’t be invisible to pedestrians and drivers nearby, the project’s architect assured the Architectural Commission at its most recent meeting.

“It’s going to be a multi-multi-million-dollar apartment,” architect Keith Spina told the board. “This thing has to be spectacular. Tiffany’s is still an incredible tenant, and this building is one of the best retail buildings on the Avenue. And we would never want to create anything that diminishes that.”

Lifestyle Pursuits

Polo Legend and Former Model Nacho Figueras Is Launching a Fragrance Line of His Own

N amed after Buenos Aires, Palm Beach, Aspen, Windsor, Jaipur and Dubai, the fragrances retail for $275 apiece.

The body of work took a full two years to develop, and Figueras worked with  master perfumer Carlos Benaim  on the scents. His resume includes iconic projects for the likes of Prada, Calvin Klein and, of course, Ralph Lauren.

Not surprisingly, Figueras’s bottles have an equestrian theme in the form of horseshoe-shaped caps atop sleek fluted bases.

Because the label has his name on it, Figueras was determined to remain heavily involved throughout the process. “If you check with the team, they’ll say I like to be very hands-on and proactive,” he said. “I come back and say, ‘where are we with this?’ I love this project and I think it can be the beginning of something great.”

See the rest on Robb Report

Automobile Pursuits

Lamborghini Ursus Named Robb Report Car Of The Year!

Lamborghini takes home the Robb Report Car of the Year award for the third time in a row, this time with the world’s first Super SUV Urus which “has multiple personalities, and I love them all,” as stated by one of the judges.
In this edition of Car of the Year, a bicoastal contest held in California and Florida, nine groups averaging 20 judges each drove 10 cars to choose their favorite among the luxury automotive industry’s finest: “The winner of the 2019 Robb Report Car of the Year is proof that there’s a renaissance in the automotive realm, and, fittingly, it has begun in Italy—Sant’Agata Bolognese to be exact,” stated Robb Report. “This raging bull is unique among Lamborghinis as it not only features six drive modes (including ones for snow and sand), but it also inherited aerodynamic attributes from the Huracán Performante and handling elements (such as four-wheel steering, active damping, and four-wheel drive) from the Aventador S.”

Sartorial Pursuits
Ralph Lauren's Secrets To Success Featured In New Book

Alan Flusser has a unique vantage point on men’s style. He’s the author of definitive books (including Clothes and the Man, one of the first style manuals), he’s run a bespoke tailoring business for decades in Midtown Manhattan, and he’s responsible for some of the most memorable tailoring in film (he dressed Michael Douglas as Gordon Gekko in Wall Street and Christian Bale in American Psycho, among others).

Now he’s undertaken a job perfectly made for him: He’s written  Ralph Lauren : In His Own Fashion (Abrams), the definitive book on Ralph Lauren, America’s master of style. He was given access to Ralph himself and, crucially, the complete archive of photos and clothes. It comes as the designer is being considered in a new HBO documentary,  Very Ralph ......

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Watches & Jewelry Pursuits

Jay Z's RIchard Mille Watch Took Over 3000 Hours To Build

While they've long been the timepiece of choice for the world's most talked-about and glamorous athletes, Richard Mille's timepieces are finally hitting the point where they're starting to find their way onto the wrists of the world's biggest cultural heavyweights.

And while the Hip-hop game was once one where only a Rolex would do on the wrist, a new boom in fine timekeeping has seen watches from the likes of Patek, Audemars Piguet and, in this case, Richard Mille, become statement pieces completely of their own accord.
Of course, as has been evidenced with the likes of Alexander Zverev and seemingly half the F1 grid, there aren't many more desirable timepieces in the world than a custom Richard Mille, and Jay-Z's new RM, simply dubbed the Blueprint.......


Aviation Pursuits

Bombardiers New Jet Combines Speed, Efficiency & Long Range

Hot on the tail of the  Global 7500 , Canada-based  Bombardier ’s smaller  Global 6500 business jet  will be ready for service by the end of the year. The  Global 6500  has completed 90 percent of its flight testing, with its wings and engines in their final stages of validation, and the first production aircraft has moved into the company’s completion center in Montreal.

Sponsorship opportunities of the PBHFA, as well as banner/advertorial promotion on Palm Beach Pursuits are currently available for select financial firms & luxury purveyors.