Nancy Shevell McCartney, who is married to singer-songwriter Paul McCartney, sold her late father’s Palm Beach condo for $13.5 million, property records show.
Sisters Susan Cohen and Nancy McCartney, representing their father Myron “Mike” Shevell’s estate, sold unit 6C and guest suite unit 4 at Il Lugano to MD Futures LLC, tied to Atlanta-based ECI Capital.
Shevell, a trucking industry leader who owned New England Motor Freight, died in January. His daughter Nancy married the ex-Beatle in 2011. Nancy is also a cousin of broadcast journalist Barbara Walters.
ECI Capital, part of ECI Group, is led by CEO Seth Greenberg and COO and CFO Benjamin Engel, according to its website. The real estate development and management firm focuses on multifamily communities.
The Palm Beach Daily News first reported the deal.
Unit 6C spans 2,895 square feet with three bedrooms, three bathrooms and one half-bath, while the guest suite is 386 square feet, according to the property appraiser.
Shevell paid $3.3 million for the unit and suite in 2002, the year that Il Lugano, at 300 Seminole Avenue, was completed. The six-story, Italian-style building has about 14 units and was built on the waterfront.
Related Companies Chairman Steve Ross owned a unit in the building, which he sold in 2008 for $12.1 million.
Palm Beach has been on the receiving end of major wealth migration during the pandemic, with buyers driving up pricing of luxury single-family homes, as well as condos.
Last week, developer Todd Michael Glaser and his partners paid $15.5 million for the luxury condo that tops the Tiffany & Co. building on Worth Avenue in Palm Beach, which they plan to renovate and flip for $40 million.
In May, car dealership magnate Terry Taylor paid $7.5 million to acquire a renovated condo at 2770 South Ocean Boulevard in Palm Beach.