A ranch formerly owned by actor Burt Reynolds is now for sale, the Palm Beach Post reported. The 153-acre Jupiter Farms property is owned by the Palm Beach County School District, which had looked to build a school on the site in 1999 after purchasing it from Reynolds for $3.85 million. Reynolds’ real estate has been in the news of late, particularly his Hobe Sound home, which is currently in foreclosure. He filmed scenes for Smokey and the Bandit at the ranch, where he also married actress Loni Anderson. [Palm Beach Post]
Posts Tagged ‘hobe sound’
Actor Burt Reynolds, who is facing foreclosure on his home in Hobe Sound, has lowered the price on the home to $4.99 million, according to the Sun Sentinel. Reynolds has remained reluctant to talk about how the home ended up in foreclosure. The home was discounted in 2009 to $8.9 million, the Wall Street Journal reported. It was originally listed in 2006 for $15 million.[Sun Sentinel]
West Palm Beach attorney Steve Krigbaum likes water-skiing so much that he built his house around his hobby. Krigbaum joined forces with friends and competitive skiers to extend a lake by dredging out a small fishing hole in Hobe Sound. His recently completed home now rests on 10 acres of tropical marshland along a lake with a half-mile-long slalom-water-skiing course.
The single-story, 3,100-square-foot, three-bedroom house is constructed in a contemporary style, making it stand out from the traditional stucco homes of South Florida, the Journal said.
Krigbaum said the setting provides welcome rest from the world of corporate law.
“My world is very adversarial,” he said. “This is a great way to turn that down.” [WSJ]
Burt Reynold’s is not spilling the beans about how his Hobe Sound home ended up in foreclosure. In an interview with ABC News, he said he was “as surprised as everyone. I thought my career and my life could not be going better,” he said. “There are a hell of a lot of other people worse off than I am, and my heart goes out to them.”
Reynolds had a $1.2 million mortgage on the house and hadn’t made a payment since September 2010. He has a second mortgage on the home from Bank Atlantic for $750,000. The actor has been trying to unload the four-acre estate for some time. He put it on the market in 2009 for $8.9 million. [WSJ]
Merrill Lynch has filed to foreclose on actor Burt Reynolds’ longtime Hobe Sound home, the Sun Sentinel reported. The bank is seeking to collect around $1.2 million for a mortgage on his four-acre estate after Reynolds allegedly failed to make a payment since September 2010.
“No subsequent payments have been made,” the lawsuit said. “Plaintiff must be paid $1,193,808 in principal on the mortgage note and mortgage, together with interest from Aug. 1, 2010, and all costs … and reasonable attorney’s fees.”
BankAtlantic holds a second $750,000 mortgage on the Mediterranean-style home, which currently is valued at $2.4 million, the Sentinel said.
Reynolds listed the 12,500-square-foot for sale for $8.9 million in 2009. [more]
The Bank of America building at 11900 SE Federal Highway in Hobe Sound has sold for $1.87 million to DiVosta Investments, according to commercial real estate services firm CB Richard Ellis, which represented the seller, Bridge Road LLC. The two-story building sold for $127.33 per square foot. The property generated competition when it first hit the market in February, according to CBRE, drawing in 12 different bids from investors. TRD