Real estate VP sells Palm Beach condo to former Duke Energy exec

Angelo J. Bianco and wife, Mari Marchionte Bianco, sold a two-bed, three bath condo at 400 S. Ocean Blvd. in Palm Beach to Robert T. and Georgiana B. Ladd for $1.575 million on March 6.

Mr. Bianco paid $575,000 for the 1,716 square foot Unit #2220 in Jan. 2001.

Mr. Bianco is a senior vice president at Crocker Partners, a full service commercial real estate firm headquartered in Boca Raton. He directs the development and management of all the firm's partnership businesses in Florida.

Prior to this, he was also senior vice president at CRT Properties. He began his career in New York as a real estate attorney with Bachner, Tally, Polevoy, & Mishner and later became a partner with Anderson Kill & Olick, P.C. He went on to work as counsel for Tishman Speyer Properties.

Mr. Bianco received his degree in Business Administration from George Washington University and his law degree from the University of Virginia School of Law.

Mr. Ladd, a native of New York, has been the president of Laminar Direct Capital, L.P. in Houston, Texas, since 2004. LDC is a unit of N.Y.-headquartered D.E. Shaw Group.

He was president and CEO of Duke Capital Partners, LLC, the asset management firm of Duke Energy Corp., a diversified energy company headquartered in Charlotte, N.C. He was also a managing partner for the corporate global practice of Arthur Andersen & Co.

A certified public accountant, Mr. Ladd holds an M.B.A. from the University of Texas-Austin. He received his B.A. in Managerial Studies and Economics from Rice University in 1978.

Condo sales in Palm Beach dropped 17 percent through December 2007 versus the same period in 2006. The median sales price also fell from $800,000 to $750,000.

BlockShopper Metrics started tracking condo sales in South Florida in 2001.

Address: 400 S Ocean Boulevard, #2220
Buyer(s): Robert T Ladd and Georgiana B Ladd
Seller(s): Angelo J Bianco and Mari Marchionte Bianco
Sale date: 2008-03-06

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