‘Spec’ mansion brings $64 million, after controversial start in Palm Beach

‘Spec’ mansion brings $64 million, after controversial start in Palm Beach

A never-lived-in oceanfront estate has sold in Palm Beach for a $64 million, further squeezing the island’s already-tight supply of houses for sale. The price was reported in a closed listing in the local multiple listing service. The sale of 901 N. Ocean Blvd. is the sixth Palm Beach deal this year to top $60 million, thanks to a real estate market supercharged by buyers looking for havens to weather the coronavirus pandemic and attracted by Florida’s favorable tax climate, real estate observers say. A copy of the deed for the sale reviewed by the Palm Beach Daily News lists the buyer as Beechgreen LLC, a Delaware limited liability company. The document lists the contact for that entity as Toni Parker, an accounts manager at an address that matches that of DDK & Co., an accounting firm in Jericho on New York’s Long Island. The deed, which lists the sale price, had not been recorded at the Palm Beach County Courthouse as of early Monday.

The Bermuda-style estate that just sold was developed on speculation by a company linked to real estate investor and property manager Clark Beaty and his father, longtime Palm Beach resident, private investor and businessman Keith D. Beaty.

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Facing 175 feet of oceanfront, the property measures 1.14 acres and is immediately north of the Palm Beach Country Club, tucked into the curve of the coastal road.

The five-bedroom main house and two-bedroom guesthouse were completed this year. In all, the property offers about 18,000 square feet of living space, inside and out, including a partial basement.

The house stands next to a new mansion next door at 905 N. Ocean Blvd. Both houses generated controversy during their reviews before the Architectural Commission in 2018. Neighbors vigorously complained over several months that the initial designs were overscaled and inappropriate for what they dubbed “the gateway to the North End.” In the end, both property owners reduced the size and footprints of the houses they planned to build, appeasing board members and neighbors alike .

“We’re very happy with the house we built. I think it’s a nice addition to the island,” Clark Beaty told the Palm Beach Daily News. “There were fears that the (side-by-side) houses were going to be to big for the property, bit I think it’s clear now they are not. We also worked hard on the landscape plan to make sure that privacy was given to the eventual owner and (to provide screening) from the street.”

He declined to discuss specifics of the sale or to discuss the buyer.

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The Beaty family, which has deep roots in Palm Beach, sold the house through a Florida limited liability company named PBB Island Property LLC. That entity is co-managed […]

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