Billionaire Greg Mondre flips Palm Beach teardown for $5M-plus gain

Private equity billionaire Greg Mondre sold a teardown in Palm Beach for $36.3 million, after buying it last March for $31 million. Mondre’s 1160 NOB LLC sold the 0.8-acre property at 1160 North Ocean Boulevard to a trust named for the address and managed by attorney Jessica Shapiro. Marley Overman with Illustrated Properties and Gary Pohrer with Serhant had the listing. Pohrer also brought the buyer. Mondre is the co-CEO of Menlo Park, California-based private equity firm Silver Lake, which has $110 billion in assets under management, according to published reports. He has a net worth of $2.3 billion, according […]This article originally appeared on The Real Deal. Click here to read the full story.