The Real Deal Miami

Palm Beach home sells for $16.8 million

August 04, 2011 11:08AM

Alan and Karen Krause have sold their six-bedroom home at 1071 North Ocean Boulevard in Palm Beach for $16.89 million, according to a deed recorded in Palm Beach County Circuit Court. The buyer also paid $12.1 million in May for a seaside property in Palm Beach’s North End. Broker Lawrence Moens of Lawrence A. Moens & Associates had listed the house for $21 million. Broker Christian Angle of Christian Angle Real Estate represented the buyer, which is listed as 1071 North Ocean Boulevard Trust on the deed. Krause, whose family is heavily involved in philanthropy, went to prison in 2006 for 16 months for tax fraud. [Palm Beach Daily News]