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Palm Beach Daily News

Sony/ATV CEO Martin Bandier pays $3.3M for Il Lugano condo

Published: 11/3/2009
Source: Palm Beach Daily News
Viewed 1840 Times
Viewed 1840 Times

Barbara Green Kay has sold her Il Lugano condominium, 300 Seminole Ave., Unit 5C, for $3.3 million to Martin Bandier, Dorothy Harris Bandier and Max Harris Bandier, of Southampton, N.Y., according to the warranty deed filed Tuesday.

 

The three-bedroom 2,900-square-foot apartment with 10-foot ceilings had been listed for $3.975 million by Carole Hogan, agent at Brown Harris Stevens of Palm Beach. In April 2004, Kay bought the unit for $3.05 million.

 

Burt Minkoff, associate with Corcoran Group Real Estate's Palm Beach office, represented the buyer.

 

Former chairman of EMI Music Publishing, Martin Bandier is chairman and CEO of Sony/ATV Music Publishing and oversees the joint venture created in 1995 between Sony Corp. and trusts formed by late "King of pop" Michael Jackson. Sony/ATV owns the rights to more than 250 Beatles songs, as well as holding recording deals with Bob Dylan and Taylor Swift, among others.

 

In May 2008, Lee and Laura Munder paid $12.1 million for a sixth-floor 5,800-square-foot four-bedroom apartment at Il Lugano, according to the property appraiser's sales information. That purchase is the highest price ever paid in the building.

 

The most recent sale in Il Lugano was of unit 2C, sold for $3.3 million in October 2008.

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Vice President of Public Relations
p (212) 848-0488
f (212) 415-6064
Director of Public Relations
p (212) 848-0446
f (212) 230-7317
Public Relations Coordinator
p (212) 848-0453
Marketing and PR Director, Corcoran Sunshine
p (212) 323-3245
f (212) 230-4132