Telecommunications co. exec spends $1.075M on Boca condo

by Amy Anderson, published Thursday, October 2 1:58 PM ·

Addison on the Ocean

Jerome B. Eisenberg and his wife, Cynthia, bought a three-bedroom, four-bath condo at 1500 S. Ocean Blvd. in Boca Raton for $1.075 million from Jeffrey Brooks on Aug. 29.

Unit #1502, which measures 2,792-square-foot, is one of 172 units in the Addison on the Ocean development, which built in 1986.

Mr. Eisenberg serves as chairman of the board at ORBCOMM, a wireless telecommunications company that provides messaging, communications, and geo-positioning services. The company is headquartered in Fort Lee, N.J.

He is also on the board of ORBCOMM's subsidiaries, ORBCOMM, LLC, and ORBCOMM Holdings, LLC.

Mr. Eisenberg most recently served as ORBCOMM's chief executive officer and president. Previously Mr. Eisenberg held a number of positions with ORBCOMM, Inc., and with ORBCOMM, LLC.

Before joining ORBCOMM, Mr. Eisenberg worked in the satellite industry. Earlier, he was CEO and president of Helenwood Manufacturing Corp., a manufacturer of equipment for the U.S. defense department.

He was also a partner in the law firm of Eisenberg, Honig & Folger, and was an assistant corporate counsel for the City of New York.

Sales in Addison on the Ocean did not change in 2007. The median sales price, however, fell 19 percent, from $1.687 million in 2006 to $1.357 million last year.

Condo sales in Boca Raton dropped 32 percent thus far in 2008. The median sales price has also fell from $400,000 in 2007 to $345,000 so far this year.

Address: 1500 S Ocean Boulevard, #1502
Buyer(s): Jerome B Eisenberg and Cynthia Eisenberg
Seller(s): Jeffrey Brooks
Sale date: 2008-08-29