The Real Deal New York

Billionaire Jon Stryker sells Palm Beach compound for $43M

Singer Jimmy Buffett once owned the 1.6-acre site

June 02, 2014 04:10PM

From left: John Stryker and 540 South Ocean Boulevard

From the South Florida site: Companies tied to an English luxury homebuilding firm paid $43 million for three Palm Beach properties, including 1.6 acres once owned by singer Jimmy Buffett. Billionaire philanthropist Jon Stryker sold Buffett’s former home at 540 South Ocean Boulevard and two adjacent properties to Royalton Group US Holdings, which is tied to Surrey, England-based Royalton Group. The deal is the priciest in Palm Beach so far this year.

Peter Wood, a seasonal resident of Palm Beach, is the co-owner of Royalton. Stryker purchased 540 South Ocean from Buffett and his wife Jane in 2010.

The transaction also included a landmark home at 61 Middle Road and a half-acre oceanfront parcel at 530 South Ocean Boulevard, where Royalton plans to build a spec home, according to the Palm Beach Daily News. Stryker listed the properties for $47.8 million through Corcoran Group’s Dana and Paulette Koch.

At $43 million, the sale of the 2.6-acre site is the town’s most expensive since shock jock Howard Stern paid $52 million for a North End compound in May 2013. The transaction is also considered the priciest sale of adjacent properties in Palm Beach’s Estate Section.

Stryker, who has offices in New York City and Florida, listed his Prasada co-op penthouse in Manhattan for $48 million last fall, as previously reported. [Palm Beach Daily News]Eric Kalis

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