The Real Deal Miami

Waterfront Palm Beach estate sells for $17.4M

CEO of the Boston-based Bollard Group is listed as the buyer

June 30, 2015 03:00PM
By Katherine Kallergis

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240 Banyan Way (Credit: Sotheby's International Realty)

240 Banyan Way (Credit: Sotheby’s International Realty)

A waterfront mansion in Palm Beach sold for three times its last sale price — a whopping $17.4 million, according to Palm Beach County records.

The estate of Mary Jo Condren transferred ownership of the 11,365-square-foot home to the Boston-based Bollard Group, an investment advisory firm. Bollard CEO Anastasios Parafestas is listed on the deed.

The 0.75-acre property, at 240 Banyan Road, has four bedrooms, five full bathrooms, two half-baths, as well as a separate garage apartment, which includes two bedrooms, two full baths and a half-bath.

The mansion, built in 1991, faces the Intracoastal. It last sold for $5 million in 1995, according to Palm Beach property records.  The site also features a patio, boat dock, pool, fountain, and elevator.

Cristina Condon of Sotheby’s International Realty had the listing.