Smith & Wollensky CEO buys Palm Beach mansion for $14M

Tech exec Casey Cowell sold the estate after downsizing earlier this year

TRD MIAMI /
May.May 26, 2016 01:30 PM

Restaurateur Nick Valenti and his wife Linda paid $14 million for a Palm Beach estate in an off-market deal, records show.

And the seller of 150 Clarke Avenue is tech executive Casey Cowell, who recently picked up a new home in West Palm Beach for $5 million.

Valenti, whose full name is Fortunato N. Valenti, is CEO of Smith & Wollensky, as well as Patina Restaurant Group. Patina owns 56 restaurants across the country, including 21 in New York and one at Walt Disney World Resort in Orlando.

His new home spans nearly 9,300 square feet and includes five bedrooms, five bathrooms and one half-bath. The 0.78-acre property features balconies, patios, a pool, cabana and elevator.

Property records show Cowell paid $6.25 million for the estate, which is not on the ocean, in 2004. That means he made nearly $8 million in 12 years.

Meanwhile, Cowell bought the home at 3240 North Flagler Drive in April. The chairman and principal owner of Durandal, a tech company, also co-founded modem maker U.S. Robotics. He sold his Palm Beach estate at 146 Gulfstream Road for $6.75 million in 2007, records show.


Related Articles

arrow_forward_ios
Mark Freitas and 201 El Vedado Road (Mark Edwards Partners, Google Maps)

Insurance tycoon sells Palm Beach mansion for $21M

Insurance tycoon sells Palm Beach mansion for $21M
Michael Aram and Aret Tikiryan with 135 Seminole Avenue, Palm Beach (Patrick McMullan/Getty, Realtor)

Imagine the decor: Michael Aram buys Palm Beach house for $5M

Imagine the decor: Michael Aram buys Palm Beach house for $5M
Andy Unanue & 111 El Brillo Way (Credit: Google Maps)

Goya Foods heir buys Palm Beach mansion for $11M

Goya Foods heir buys Palm Beach mansion for $11M
Carl Esrey & 119 E Inlet Drive (Credit: Google Maps)

Real estate financier drops $6M on Palm Beach home

Real estate financier drops $6M on Palm Beach home
The late Kate Ford with 300 North Lake Way (Credit: William Jacobellis/New York Post Archives /(c) NYP Holdings, Inc. via Getty Images, and Google Maps)

Ford family estate in Palm Beach lists for $58M

Ford family estate in Palm Beach lists for $58M
Donald Burns and 1021 North Ocean Boulevard (Twitter, Realtor)

Telecom tycoon sells Billionaires Row teardown in Palm Beach for $28M

Telecom tycoon sells Billionaires Row teardown in Palm Beach for $28M
From left: The Bristol in West Palm Beach; 6431 Pine Tree Drive Circle, Miami Beach; 2325 Desota Drive, Fort Lauderdale; and 12520 Seminole Beach Road, North Palm Beach (Realtor, iStock)

South Florida signed resi contracts up in September: Elliman

South Florida signed resi contracts up in September: Elliman
11750 Turtle Beach Road, North Palm Beach (Realtor)

Billionaire businessman sells North Palm Beach mansion for $19M

Billionaire businessman sells North Palm Beach mansion for $19M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...