The Real Deal Miami

Palm Beach mansion fetches $68.5M

June 10, 2008 11:51AM

Art collecting communications mogul George Lindemann and his wife Frayda sold their oceanfront home at 1960 S. Ocean Boulevard in Palm Beach for $68.5 million last week. The Balinese-style mansion was reported to have an $80 million asking price, but buyer White Sea Holdings, a limited liability company, didn’t go the distance, according to sale documents. White Sea is a corporation formed in May, but the actual buyer is reportedly Victor Vargas, president of Banco Occidental de Descuento in Venezuela. He also owns the Lechuza Caracas polo team.