Francis X. Lilly and Kathryn M. Lilly bought a three-bedroom, two-bath condo at 2860 S. Ocean Blvd. in Palm Beach for $450,000 on Nov. 26.

Unit #4070 is a 1,668-square-foot unit that is part of the La Palma condo development.

Mr. Lilly is the chief executive officer and chairman of the board at Independent Fiduciary Services, Inc.

He was the founder of Bear Stearns Fiduciary Services in 1985. Prior to that, he was the solicitor of labor at the United States Department of Labor, appointed by the President in 1983.

Prior to his confirmation as solicitor, he served as deputy solicitor of labor in 1982 and as acting associate counsel to the President in 1981. Before his public service, he practiced law in Washington.

Mr. Lilly received his undergraduate degree from Duke University and his law degree from the Columbus School of Law, Catholic University of America.

Mr. Engelberg is a lawyer and a member at Engelberg & Milgrim, PA. He practices in the areas of estate planning and administration and taxation.

He received his B.S. in accounting from Brooklyn College in 1961 and his J.D. from Brooklyn Law School in 1972.

There have been 384 condo sales in the Palm Beach thus far in 2008, with a median sales price of $750,000.

Address: 2860 S. Ocean Boulevard, Unit: 4070
Buyer(s): Francis X Lilly and Kathryn M Lilly
Seller(s): Morris Engelberg (Esquire) (Personal Representative) and Betty C Epstein (Estate)
Sale date: Nov. 26, 2008