The Real Deal Miami

Edward Falcone lists Palm Beach estate for $36M

Also listing in Palm Beach: a Fortune 1000 exec's home, for $32M
By Katherine Kallergis | March 30, 2015 11:00AM

8 South Lake Trail and 2455 South Ocean Boulevard

Real estate tycoon Edward Falcone listed his Palm Beach home for $36 million, The Real Deal has learned.

Falcone bought the 1.65-acre site at 8 South Lake Trail for nearly $28.8 million, according to Palm Beach County property records. The six-bedroom, six-bath and one-half-bath mansion was built in 1937 and designed by Palm Beach architect John Volk.

Falcone’s brother is Art Falcone, a Miami Worldcenter developer and more recently the owner of the Fashion Mall in Plantation, with plans to develop it into a master planned community.

The 9,918-square-foot home includes a swimming pool, dock and boat lift, and spa, property records show. Greg Weadock of Brown Harris Stevens has the listing.

Weadock told TRD he’s marketing the estate oversees and that he’s looking for a “special buyer that appreciates the uniqueness of the property.”

Bruce Leeds

Nearby, a Fortune 1000 company executive listed his Palm Beach estate for $31.9 million. Systemax vice chairman Bruce Leeds owns the Highland Beach mansion at 2455 South Ocean Boulevard, Palm Beach County property records show.

Listing agent Beverly Knight of Ocean Estate Properties said the 23,625-square-foot custom home is too large for the owner.

“All the bedrooms have ocean views because of the [150 feet of] water frontage,” Knight told TRD. “It’s just breathtaking.”

The 1.9-acre site last sold for $5.8 million in March 2011. Leeds bought the property in an estate sale.

Systemax sells computers, consumer electronics and related products through e-Commerce.