Thanos Papalexis

Thanos Papalexis

Thanos Papalexis is a British born businessman of Greek descent now resident in Palm Beach, Florida.

Born 23 July 1972 in London, he joined his family's group of shipping companies after university and led its diversification from shipping and oil trading into real estate. He is currently the CEO of the Sisemen Corporation , a development firm specializing in 'hybrid boutique properties' .

Business

Mr. Papalexis is head of several real estate investment Sisemen LLC and hospitality Vita Hotels businesses. He created a unique 200 year landlease format which his companies acquired several properties in Palm Beach, Florida. He is best known for selling properties on such leases at the top of the market one of which was sold for close to $12m after only 6 months of creating the lease. He was also known for holding successful separate negotiations with 119 individual unit owners of a hurricane damaged high rise building in West Palm Beach for up to $57m . The deal fell through after the $20m insurance claim the condoboard had represented to Mr. Papalexis would be collectable started to become questionable in its value .

Charitable work

In 2008 Sisemen Development, a company Papalexis leads donated of land and promised up to $5m for construction purposes to the Leo Foundation, a Palm Beach charity. The purpose of the donation is to enable the foundation to set up a 'Chance Compound', a small townlike community designed to help homeless people to regain control of their lives .

Disputes

Mr. Papalexis' recently settled a dispute with Michael Cantor, from whom he had rented an oceanfront estate on Palm Beach. On February 15, 2008 The New York Times reported Mr Cantor as saying "I'm trying to ascertain the damages" after the property had been used for several lavish parties including a fundraising event with former President Bill Clinton .

A company of which Papalexis is the founder is suing a leasing company for fraud regarding a luxury jet purchased by Mr. Papalexis. .

References

External links

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