Shareholders of entity that sold the North End house are based in Abu Dhabi in the United Arab Emirates.
| Palm Beach Daily News
An advertising executive from Tennessee is the new owner of a house developed on speculation and completed in 2017 on the North End of Palm Beach.
Scott R. Norman, principal of ARS Advertising in Chattanooga, paid a recorded $7 million for the four-bedroom house at 1233 N. Ocean Way.
It was sold by Grammarian Inc., a Florida company for which the sole shareholders are Nazem and Hashim Fawwaz Nazem Alkudsi of Abu Dhabi in the United Arab Emirates, according to documents recorded Nov. 20.
Grammarian Inc., which was previously registered in Oregon, paid a recorded $5.475 million for the house in May 2017, when it was new. With 5,236 total square feet, the house comes with a rare perk for a non-oceanfront property —