N.Y. book publisher pays $1.15 for Palm Beach Towers condo

by Mallory Davis, BlockShopper Staff
Mark and Nina Magowan bought a three-bedroom, two bath at 44 Cocoanut Row in Palm Beach for $1.15 million from the estate of Helen Goodfriend and her personal representative, David I. Goodfriend.

The 1,501 square foot Unit #3200 is located in the Palm Beach Towers development. The building was constructed 1973 and houses 303 units.

Mr. Magowan is a New York City book publisher. Most recently, he founded and served as president of The Vendome Press. He previously worked for Harry N. Abrams, Inc., a publisher specializing in art and illustration books.

He also authored the book JM: A Remembrance, a tribute to his uncle, the Pulitzer Prize winning American poet James Merrill. His grandfather is Charles Merrill, founder of Merrill Lynch. Magowan's brother, Peter Magowan, is president and general managing partner of the San Francisco Giants.

Mr. Goodfriend is vice president of investment banking for Sunrise Securities Corporation, a New York investment bank. He previously held positions with First Allied Securities and Josephthal & Co. Inc.

Before moving into investment banking, Mr. Goodfriend served as associate general counsel and operations manager for Globe Motor Car Company, a Mercedes Benz dealership.

He earned his B.S., M.B.A. and J.D. from Widener University.

Sales in the Palm Beach Towers dropped 31 percent in 2007. The median sales price, however, rose 71 percent, from $425,000 to $825,000.

Condo sales in Palm Beach dropped 17 percent in 2007. The median sales price also dropped from $800,000 to $750,000.

Address: 44 Cocoanut Row, Unit: 3200
Buyer(s): Nina Magowan and Mark Magowan
Seller(s): Helen Goodfriend (Estate) and David I Goodfriend (Personal Representative)
Sale date: 2008-04-11

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