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Palm Beach mayor sells commercial building her family bought in 1997

Palm Beach Mayor Gail Conigio’s family and an investment partner have sold, for a recorded $7.15
million, the landmarked commercial building they owned for nearly 25 years at the northeast corner of Royal Poinciana Way and Bradley Place.
The new owner of 283 Royal Poinciana Way is a limited liability company affiliated with West Palm Beach real estate investor and businessman Edward “Ned” P. Grace Iv, the deed recorded Tuesday shows. He is the sole manager of 283 Royal Poinciana Way LLC, state business records show.
Grace, who co-founded NDT Development, played a key role in 2018 when Boston-based New England Development bought, for $15.4 million, the landmarked 1920s-era hotel building immediately north of the property that just changed hands. Formerly the Bradley Park Hotel, the hotel reopened this season as The White Elephant after a major renovation at the corner of Sunset Avenue and Bradley Place.

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