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Monday, August 10, 2020

Dan Gilbert LLC Just Bought Two Mansions in Palm Beach For More than $40 Million

Posted By on Mon, Aug 10, 2020 at 10:42 AM

An LLC linked to Cavs owner Dan Gilbert just purchased the 11,000-square-foot Palm Beach mansion featured in the video above for $24.5 million. The listed address of the buyer, "Golden Crate LLC," is that of Quicken Loans, in Detroit.

A Florida real estate blog reported that a document filed with the city of Palm Beach was signed by Matthew Rizik, current CFO of Gilbert's Rock Ventures.

Literally the day before, Palm Beach outlets reported, the same Gilbert-linked LLC purchased an $18.75 million mansion in the same area. That home, however, is only 5,000 square feet. Ho-hum. 

Who knows whether Gilbert intends to use these for personal use, as investment properties or something else. The $24.5-million Mediterranean estate in the video above, which reportedly has nine-and-a-half bathrooms, was last sold for $20.38 million, netting the previous owner a cool $4 million.

Gilbert's personal fortune was revealed to have ballooned to $34 billion last week, after the initial public offering of Rocket Cos. corporate stock. He is now the 28th-richest person on planet earth.

Cleveland, Ohio, and Cuyahoga County, meanwhile, on the brink of crippling economic crises spawned by the coronavirus, will be paying off the debt on renovations to the Rocket Mortgage FieldHouse, a venue where fans may not congregate for several years, until 2034. 

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