ZPG founder Alex Chesterman buys Palm Beach mansion

ZPG CEO Alex Chesterman has splashed the cash with a new home in Palm Beach, Florida which he has bought for £6.6m. The property, which has five bedrooms and seven and a half bathrooms, is in what Americans call the colonial style. It is a beach front property off Ocean Boulevard with a heated swimming pool and a beach garden overlooking the surf with its own shower and dining area. Alex benefited from the island’s prime property woes, which are akin to London’s current problems. Homes are taking a long time to sell and being sold at considerable discounts. A former Morgan Stanley banking executive had been trying to sell Alex’s property for several years through agent The Corcoran Group and it was originally on the market for $8.97 million. The price was later dropped to £8.14 million before selling for £6.6m, so the ZPG CEO got it at a 26% off the original asking price. Alex joins a community thronging with both US and international celebrities and business leaders including Donald Trump, whose Mar-A-Lago resort is just a few blocks down the road, as well as his former wife Ivanka Trump, Rod Stewart, Venus and Serena Williams, novelist James…

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