An oceanfront Palm Beach mansion sold for $30 million in the town’s most expensive residential transaction of 2014, The Real Deal has learned.
The sale of the seven-bedroom, 11-bathroom 101 El Bravo Way home closed on Tuesday, according to Palm Beach County records. A company called 101 El Bravo LLC sold the home to longtime oil company owner Thomas O’Malley and his wife Mary Alice. The county recorded the transaction Thursday.
JP Florida Investment Corp. is the manager of the selling company, according to the deed prepared by Palm Beach attorney Guy Rabideau. It is managed by James A. Patterson of West Palm Beach (not to be confused with famous fiction author and Palm Beach homeowner James B. Patterson). JP Florida paid $16.5 million for the 0.92-acre property in April 2007 and completed construction of the 21,263-square-foot mansion in 2011.
The Corcoran Group’s Jim McCann was the listing agent for the three-story home, which was first put on the market with an asking price of $37.5 million. The property includes a four-car garage, heated pool and garden courtyard.
At $30 million, the 101 El Bravo Way sale narrowly edges the $29 million sale of 445 Antigua Lane as the town’s priciest this year.