Real estate in Palm Beach is having a great year
Iconic names such as John F. Kennedy and John lennon, to cinema / music megastars such as Sylvester stallone, Jon Bon Jovi and Jimmy buffett, to industry titans such as Charles Schwab, casino mogul Steve wynn, owner of the New York Jets Woody johnson and Dan Gilbert, majority owner of the Cleveland Cavaliers and founder of Quicken Loans, real estate was surging in 2020 in Palm Beach, the new full-time residence of the biggest name in the world, President Donald Trump.
The year may have been marked by the deadly coronavirus pandemic, civil unrest and a controversial presidential election, but it has been a good year for Palm Beach real estate agents and brokers due to an onslaught of buyers.
Just compare the residential sales that reached or exceeded $ 20 million this year to 2019. Last year there were 10 such deals. In the last week of 2020, there had been 21 transactions in this price category recorded by the Palm Beach County Clerk’s Office – an annual record for the island.
Here’s a look at some of the deals involving some really big names.
Reported $ 72 million home sale to company linked to Charles Schwab
In June, a renovated historic estate in 8 S. Lake Trail set a price record by the lake when he changed hands in a private agreement. Robb E. and Lydia Turner sold the estate they renovated to SL Trail LLC, a limited liability company believed to be related to discount brokerage billionaire Charles Schwab. That same month, the Turners bought, for $ 21 million, 220 EL Vedado Road, the longtime home of Edith Dixon and her late husband, philanthropist F. “Fitz” Eugene Dixon Jr.
President John F. Kennedy’s Winter White House sold for $ 70 million
A company controlled by Jane Goldman in June sold the beachfront estate known to the world as President John F. Kennedy’s Winter White House at 1095 N. Ocean Blvd. On the buyer’s side of the off-market deal was 1095 North Ocean Trust, an entity related to Carl D. and Mary Jane Panattoni.
Mizner-designed mansion owned by mall tycoon sells for $ 47 million
In May, the historic area from the ocean to the lake of the deceased shopping center magnate A. Alfred Taubman changed hands at 1820 S. Ocean Blvd. The buyer, White Birch Farm Inc., is related to pulp and paper industrialist Peter Brant, who is married to former model Stephanie Seymour.
The renovated mansion was designed by renowned company architect Addison Mizner.
NBA Cavs owner / Quicken Loans founder tied to $ 43 million homes
In the same week in February, billionaire Dan Gilbert, majority owner of the Cleveland Cavaliers and founder of Quicken Loans, used a limited liability company to buy two homes with sales totaling $ 43.25 million. Gilbert’s company paid $ 24.5 million for a beachfront home at 100 El Bravo Way and $ 18.75 million for a lakefront home at 670 Island Drive on Everglades Island.
Rocker company Jon Bon Jovi buys, then sells a seaside estate
In July, Jeffrey A. and Nicola Marcus sold their oceanfront estate at 1075 N. Ocean Blvd. limited liability company controlled by rocker Jon Bon Jovi. Bon Jovi’s company simultaneously sold, for $ 19.847 million, the custom home that Bon Jovi and his wife, Dorothea Hurley, had recently completed at 230 S. Ocean Blvd. Both properties were listed for sale by broker Angle, who also represented the buyer’s side at number 1075. A trust named after the address of the property was on the buyer’s side at number 230, represented by Leavitt and McIntosh.
Beachfront home that once belonged to John Lennon, Yoko One sells for $ 36 million
In October, a seaside house that once belonged to the the late Beatles singer John Lennon and his wife Yoko Ono sold at 720 S. Ocean Blvd. for $ 36.08 million. Cindy and John C. Sites Jr. and a trustee have sold their renovated estate at 720 South Ocean Boulevard Land Trust. Angle was the listing agent, negotiating opposing agents Paulette Koch and Dana Koch of the Corcoran group.
Following:John Lennon’s Last Years in Palm Beach
Rocky & Rambo actor Sylvester Stallone buys lakeside estate for $ 35 million
In December, the Hollywood icon Sylvester Stallone, star of the “Rocky” and “Rambo” film franchises, paid $ 35.375 million for a lakeside resort in the far north of the city.
Completed in 2014, the Bermuda-style gated resort linked to Stallone at 1480 N. Lake Way spans 1 ½ acres with 253 lakefront feet. It has a dock and a sandy beach beyond the dike.
The sale was funded by a 30-year, $ 15 million mortgage, according to courthouse records.
Stallone, 74, owned a house in Miami’s Biscayne Bay in the 1990s.
NFL Jet owner Woody Johnson buys uninhabited house for $ 32 million
In April, Woody Johnson, owner of the New York Jets used a Delaware limited liability company to buy a never-lived-in house developed on speculation at 446 N. Lake Way for $ 32.2 million. On the seller’s side was luxury home builder Mark Pulte of Mark Timothy Inc., who was represented by Moens. Premier Estate Properties agent Jim McCann represented the purchaser.
A company linked to the Estée Lauder company buys a house for $ 25 million
In April, the home of late philanthropists Morton L. and Barbara A. Mandel at 1063 N. Ocean Blvd. sold for $ 25.37 million to a Delaware-based limited liability company linked to the Lauder family through the New York headquarters of cosmetics and fashion empire Estée Lauder. McCann handled both sides of the sale.
Casino mogul Steve Wynn buys second property on the island
In December, Steve Wynn, beach resort and casino billionaire bought a second waterfront home in Palm Beach for $ 18.4 million. The sale, which took place just before Christmas, involved a never-lived-in lakeside house at 235 Via Vizcaya, according to sources familiar with the matter.
Wynn has a much larger ocean-lake domain across town.
‘Margaritaville’ singer Jimmy Buffett sells one of his Palm Beach homes
In November, “Margaritaville” singer Jimmy Buffett and his wife Jane, sold one of their homes in Palm Beach for $ 6.9 million. The Buffets bought the house at 309 Garden Road in the north of the city for just under $ 5 million in December 2011.
The Buffets sold the house to Warren B. Kanders and his wife, Allison Kanders, as shown in the deed. The couple have a home in Greenwich, Connecticut, according to court records.
Among his business interests, Warren Kanders owns the parent company of Jacksonville-based Safariland, a manufacturer of products used by law enforcement, military, fire and EMS personnel.
City Council approves demolition of late sex offender Jeffrey Epstein’s home
A Palm Beach board of directors in December approved the demolition of the lakefront mansion that housed the Jeffrey Epstein, sex offender sentenced to death. The disgraced financier has regularly assaulted underage girls at home, prosecutors said.
The house at 358 El Brillo Way is under contract to be sold, according to the local multiple listings service.
The two-story house was at the center of the complex legal cases involving Epstein, who authorities said committed suicide in New York City in August 2019 while in custody and facing federal criminal charges of conspiracy and conspiracy. sex trafficking.
Others who call Palm Beach home
Rocker Rod Stewart, radio and TV personality Howard Stern, conservative high roller Rush Limbaugh, New England Patriots owner Robert Kraft and, of course, Trump, who resides at his club in Mar-a-Lago.
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Darrell Hofheinz writes about real estate in his weekly column “Beyond the Hedges”. He hosts the news on Palm Beach real estate for this column. Email [email protected], call 820-3831 or tweet @PBDN_Hofheinz.