Kentucky couple spends $875K for Tequesta condo

William Gatton Jones and his wife, Rev. Bonnie Quantrell Jones, bought a two-bedroom, two bath condo in Ocean House South at 100 Beach Rd. in Tequesta for $875,000 from John R. Gallagher III and his wife, Katherine, on June 27.

Unit #7040 is one of 62 units in the Ocean House South development, built in 1972.

Mr. Jones is the owner of WindStone Farms, LLC, a berry farm and jam distributor in Paris, Ky. He's held the farm's top position since 2005.

In addition to his role at WindStone Farms, he has also served as vice president of Saturn of Lexington, Inc. , a car dealer in Lexington, Ky.

Prior to WindStone Farms, Mr. Jones gained 31 years of experience in sales and marketing industry, where he specialized in merchandising specialty grocery-type items.

Rev. Jones has served as the CEO of Quantrell Cadillac in Lexington, and is also a reverend at Saint Martha's Episcopal Church in Lexington.

Condo sales in Tequesta dropped 34 percent in 2007. The median sales price remained the same at $215,000.

Sales in Ocean House South dropped 66.7 percent in 2007. The median sales price also dropped 13.6 percent, from $1.1 million in 2006 to $950,000 in 2007.

Address: 100 Beach Road, Unit: 704
Buyer(s): William Gatton Jones and Bonnie Quantrill Jones
Seller(s): John R Gallagher III (Trustee), Katherine A Gallagher (Trustee), and Unit 704 Ocean Tower Realty Trust
Sale date: Jun. 27, 2008