Palm Beach Gardens mansion flipped for $11M

Palm Beach Gardens mansion flipped for $11M

A mansion in the Old Palm Golf Club in Palm Beach Gardens sold for $10.97 million, a profitable flip after six months.

The 150 Bears Club Trust, with Jason Green of Wellington as trustee, sold the 9,655-square-foot home at 12203 Tillinghast Circle to the 12203 Tillinghast Circle Land Trust, with Gregory R. Cohen as trustee. On the $8.3 million mortgage with JPMorgan Chase Bank, the trust listed its address as 257 Blanca Isles Lane in Jupiter. It’s not ultimately clear who owns either trust.

The price equated to $1,136 a square foot. It was an off-market deal.

The home last traded for $8.86 million in December, so it had a strong gain in value amid the flurry of luxury home sales in South Florida.

Built on the 2.07-acre site near a golf course and a lake in 2011, the home features five bedrooms, 6.5 bathrooms, a full-size tennis court, an elevator, a pool, a fountain, a fireplace, a wine cellar, an office, a billiard room, a movie room and a fitness room.

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South Florida’s Wealthiest ZIP Codes

Ranked by Median household income Rank ZIP Code Median household income 1 33109 $200,577 2 33158 $170,673 3 33149 $151,190 View This List

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