Sydell Miller sells lakefront lot for $42 million, was last remnant of her former estate

Beauty mogul Sydell Miller has sold, for a recorded $42 million, the vacant lakefront lot that remained after she split apart her ocean-to-lake estate in late 2019 by selling her seaside mega-mansion for a price documented at $105 million on Palm Beach’s Billionaires Row.

The buyer of the vacant lot at 1440 S. Ocean Blvd. was not immediately identified in the information about the off-market sale posted Friday on the Palm Beach County Clerk’s website.

With this week’s sale, the combined recorded sale prices for Miller’s former lake lot and oceanfront parcel total $147 million.

The vacant lot measures 1.7 acres and has about 246 feet of waterfront, according to property records. It lies across the coastal road from her former custom-built mansion at 1415 S. Ocean Blvd.

The mansion sale set what was then a Florida price record when Miller sold it in December 2019 to hedge-fund manager Steven Schonfeld and his wife, Brooke Kaplan Schonfeld.

>>More: Palm Beach estate sale documented at $105M; sets island and likely state record

The actual amount changing hands in the mansion sale was $111 million, according to sources familiar with the transaction. Prices for real estate deals recorded at the courthouse are often lower than the prices set forth in sales contracts, because the recorded prices may not reflect real estate commissions and other fees.

Miller paid $10 million for the lakefront lot in 1999. She razed a house there to facilitate views from her mansion, which she named La Reverie.

The lot on the lake was owned separately from the beachfront parcel, property records show. The lot was sold by a Florida limited liability company named 1440 Holdings LLC, the deed shows.

Broker Lawrence Moens of Lawrence A. Moens Associates handled both sides of the lot sale, according to sources familiar with the transaction. Moens and Miller couldn’t be reached.

Moens also had a role in the 2019 sale of Miller’s mansion with broker Christian Angle of Christian Angle Real Estate.

Miller assembled her estate in the 1990s by buying three properties — two on the ocean and the lakeside lot — for a grand total of about $26 million.

She paid $4.9 million for her beachfront land in 1995 and expanded her holdings two years later with an $11.25 million purchase of a house next door, which she razed. Those purchases gave her 4.35-acres on the ocean.In 1999, while construction of the mansion was underway, Miller bought the lakeside lot, bringing her total ocean-to-lake holdings to about 6 acres. >>From the archives: Hedge-funder set to pay more than $100M for Sydell Miller’s mansion, sources confirm Miller completed her neoclassical-style house in late 2001 after four years of construction. La Reverie has three stories, 10 bedrooms and 84,626 total square feet, of which 34,775 square feet is air conditioned, property records show. The house faces about 350 feet of oceanfront.With ties to Cleveland, Miller and her late husband, Arnold Miller, co-founded Matrix Essentials Inc., which became the largest manufacturer of professional hair and beauty products in the country. After her […]

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