Real estate veteran buys Delray Beach 3BD

by Amy Anderson, BlockShopper Staff
Wade Shavell bought a three-bedroom, three bath at 1575 Estuary Trail in Delray Beach for $1,058,875 from Michelle Reich on April 24.

Reich paid $596,500 for the property in Sept. 2001, the same year it was built.

Shavell is the former owner of a real estate company that was purchased by Coldwell Banker in 1999.

He sold a condo at 360 S. Ocean Blvd. in Palm Beach for $4.725 million on Feb. 22.

Home sales in Delray Beach dropped nearly 35 percent in 2007. Median sales prices also dropped $15,000 last year, from $265,000 in 2006 to $250,000 in 2007.

Address: 1575 Estuary Trail
Buyer(s): Wade Shavell
Seller(s): Michelle Reich
Sale date: 2008-04-24

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