3 beachfront Kahala lots bought for $34 million
Three adjoining beachfront lots in Kahala that were put on the market this summer have sold to a single buyer for $34 million.
The three vacant lots, measuring a total 2.76 acres, went into escrow within 30 day after the June listing, and closed on Thursday, according to the seller's agent, Pat Choi of Choi International. Choi had listed the three lots at 4415, 4423 and 4433 Kahala Ave. for $40 million.
Choi said the buyer was WF Coastal Properties LLC, represented by Anthony Pace, an independent Realtor.
Pace said the buyer is a local resident who happened to hear about the property, and then contacted him to pursue it. He declined to say more.
State records show WF Coastal Properties is registered to Robert T. Bell, who listed an address in Saddlebrook, N.J., that is also the headquarters of the Charles B. Wang Foundation, of which Bell is listed as a director, according to tax records.
Another director of the foundation is Kimberly Wang, daughter of Computer Associates International Inc. founder Charles B. Wang. Kimberly Wang was co-owner of the Hawaiian Islanders arena football team, which folded in 2004. She could not be reached for comment yesterday.