A six-acre oceanfront compound on Florida’s Jupiter Island is on the market for $90 million.
A 7,400-square-foot main residence anchors the estate, according to the Wall Street Journal. It is by far the priciest property on the market on the island. The sellers are SEI Investments CEO Alfred West and his wife, Loralee West. They bought the property in 1994 for $3.3 million and started building the compound in 2003.
The couple replaced two buildings with the main residence and two guest houses, each with three bedrooms, a living room and a kitchen. They also renovated a beach house built in the 1940s.
The property includes two parcels bisected by a beach road. The main house sits at a 25-foot elevation to maximize water views. It has a wine room, gym, game room, office and staff rooms. The garage can accommodate up to 12 vehicles. The back yard includes an outdoor kitchen, pool and cabana space.
The property has all-important frontage on the Intracoastal Waterway. The 335 feet of frontage includes a dock that can accommodate a 100-foot vessel and features a slip for a fishing boat, as well as a lift.
Listing agent Liza Pulitzer of Brown Harris Stevens said the Wests are selling the property because they don’t use it as much as they used to. She has the listing with Brown Harris Stevens colleague Whitney McGurk.
The average sales price on Jupiter Island — a roughly nine-mile-long barrier island — is $14 million. Prices have jumped 230 percent over the last year.
Among the larger deals to close this year was the $55 million sale of golf legend Greg Norman’s home on South Beach Road. Norman and his wife Kiki sold the 32,000-square-foot mansion to L Brands CEO Leslie Wexner.
Fontainebleau Development is building a 21-unit condominium project on Jupiter Island. The firm secured $50 million in construction financing for the project earlier this year.
[WSJ] — Dennis Lynch