The Real Deal Miami

Palm Beach estate returns to market asking $40M

Philanthropist Lorraine Friedman took property off the market in February
March 17, 2016 01:09PM

901 North Ocean Boulevard

901 North Ocean Boulevard in Palm Beach

After pulling her sprawling oceanfront Palm Beach mansion off the market for two months, philanthropist Lorraine Friedman is now trying her luck again, listing the property for just under $40 million.

The asking price comes to just over $3,400 per square foot. Friedman and her late husband Jack N. Friedman paid $5.5 million for the 2.3-acre estate at 901 North Ocean Boulevard in 1994, property records show.

The residence includes a two-story, nine-bedroom, 11,686-square-foot home, three guest houses, 300 feet of oceanfront, a gym, and a heated pool with a rock waterfall. Lindy Gary of Linda A. Gary Real Estate has the listing.

The property was put on the market for $38 million in 2012, then $41.9 million in December until it was delisted in February. The new listing was first spotted by Curbed.

The Friedmans founded the Lorraine & Jack N. Friedman Commission for Jewish Education. In 2010, trusts associated with the couple sued Hodgson Russ LLP and its chairman Paul Comeau for more than $70 million of losses from investments they made with Ponzi schemer Bernie Madoff, Bloomberg reported at the time. [Curbed] Katherine Kallergis