Palm Beach mansion trades for $29M

Developer David Frisbie sells waterfront residence he built last year

Feb.February 12, 2014 11:15 AM

A waterfront mansion in the town of Palm Beach has traded for nearly $29 million in Palm Beach County’s most expensive residential sale of 2014, The Real Deal has learned.

Developer David Frisbie’s 416 Brazilian Avenue company sold the 445 Antigua Lane residence last Friday, according to Palm Beach County records. The county recorded the transaction Monday. Frisbie’s company paid $8.1 million for the property in March 2011, demolished the existing home and built the 16,300-square-foot mansion last year.

Colonial LLC is the buyer. The company is registered in Delaware, which does not identify company principals in its state corporate records. It did not obtain financing for the purchase.

Fronting the Intracoastal Waterway, the mansion has eight bedrooms, nine bathrooms and a four-car garage. Other features include hurricane-impact windows, two kitchens, two offices, a pool and spa.

The home was initially listed in October 2013 with an asking price of nearly $36 million. Frisbie’s wife Suzanne, an agent with Corcoran Group, handled the listing. — Eric Kalis

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