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
From left: Ashley McIntosh, and John Moran, with 100 Regents Park Road

GOP fundraiser buys Palm Beach home near Mar-a-Lago

The Breakers in Palm Beach

The Breakers in Palm Beach is closing amid coronavirus pandemic

Jazz musician Bob Merrill and 500 Regents Park Road (Credit: Compass)

Jazz musician snags Palm Beach home near Mar-a-Lago for $8M

1296 South Ocean Boulevard (Credit: Google Maps and iStock)

Palm Beach mansion across from Ken Griffin’s assemblage sells for $40M

110 Clarendon Avenue (Credit: Sotheby's)

Founder of private preschool sells Palm Beach estate for $10M

630 Island Drive and Mark Biondi

Related Beal exec linked to purchase of $19M Palm Beach estate

Carl Panattoni, Raymond G. Perelman and 965 North Ocean Boulevard in Palm Beach (Credit: Panattoni, PennToday, and Google Maps)

Developer Carl Panattoni drops $29M on Palm Beach estate

Dan Gilbert and 100 El Bravo Way (Credit: Getty Images and Realtor)

Company tied to Quicken Loans buys Palm Beach estate for $25M

arrow_forward_ios
Loading...