Foreign Property News | Posted by Si Thu Aung
A never-occupied oceanfront mansion in Palm Beach, Florida, that was once the island’s most expensive home on the market with a price tag of $84.5 million has found a buyer, according to listing records.
The 35,000-square-foot mansion, custom built in 2016, was last listed by Douglas Elliman in October for $59.9 million. Its status changed to “pending sale” or “contracted” on the Multiple Listing Service as of June 3.
Listing agents Ashley McIntosh, Gary Pohrer and Vince Spadea of Douglas Elliman declined to confirm the sale or disclose any information about the parties involved.
The home first came onto the market in March 2017 for $84.5 million, making it the most expensive home for sale in Palm Beach. The price was reduced to $70 million, then to $65 million later that year, listing records show.
The sellers used a trust to purchase the home for $12 million in 2011, per property records on PropertyShark.
Touted as the only oceanfront mansion on the northern end of Palm Beach, the estate spans 1.77 acres with 242 feet of beach frontage.
Built by Hugh Davis in French Normandy style, the mansion has five bedrooms, seven full bathrooms, nine half bathrooms, two fully appointed guest apartments, and an eight-car garage, according to the Douglas Elliman listing.
The entertaining space includes a library, a home theater, a wine room, a fitness center and a barber shop. Outdoors, there is a loggia, a summer kitchen, an infinity pool and a spa.
Ref: Property Report
