Billionaire Hands Palm Beach, Florida, Another Trophy-Home Deal

One of the latest in a slew of high-end transactions in Florida’s frenzied Palm Beach market changed hands this week in a $21.75 million deal.

The coastal enclave has become one of the nation’s top trophy-home markets, with buyers charmed by the location and incentivized by favorable interest rates, the flexibility that working remotely has brought about and the state’s low taxes.

In this particular sale, a trust tied to the billionaire financier and principal owner of the MLB’s San Francisco Giants, Charles B. Johnson, 88, and his wife, Ann, purchased a newly built lakefront mansion.

The trust used in Monday’s acquisition was the same one the couple used for a separate big-ticket Palm Beach home purchase back in 2013, and their daughter was listed as the trustee in both cases, property records show.

They could not be reached for comment.

Completed this year, the seven-bedroom home on Everglades Island had been asking just shy of $24 million when it came on the market in December, according to listing records.

The Moroccan-inspried estate spans more than 7,000 square feet, and has a formal entrance hall with a curved wrought iron staircase, a great room with water views and a gourmet kitchen, according to the listing with Christian Angle of Christian Angle Real Estate.

The agency did not respond to a request for comment.

There’s also millwork ceilings, carved stone mantles, an interior courtyard with a fountain, a pool with a cabana and a waterfront loggia.

The seller of the home was a limited liability company controlled by Gerald M. Lemole Sr., property records show. Mr. Lemole is the father-in-law of Dr. Mehmet Oz, star of the eponymous, Emmy-winning “The Dr. Oz Show.”

Article Source: Mansion Global