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

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
71 Curlew Road and James and Kimberly Caccavo (LinkedIn, Steelpoint Capital Partners, Google Maps)
PE boss James Caccavo drops $11M on waterfront Manalapan spec home
PE boss James Caccavo drops $11M on waterfront Manalapan spec home
Sean Hannity with 9 Sloans Curve Drive (Getty, Google Maps)
Palm Beach green-lights addition for Sean Hannity’s oceanfront townhouse
Palm Beach green-lights addition for Sean Hannity’s oceanfront townhouse
211 Dunbar Road (Google Maps)
Good ROI? Wealth manager sells non-waterfront Palm Beach estate for $21M
Good ROI? Wealth manager sells non-waterfront Palm Beach estate for $21M
Estée Lauder and 144 Everglade Avenue (Getty, Google Maps)
Estée Lauder’s former Palm Beach estate gets designated historic
Estée Lauder’s former Palm Beach estate gets designated historic
Mount Vernon Company's Bruce Percelay and 210 Palmo Way, Palm Beach (Google Maps, Linkedin, Getty)
Boston real estate chief sells non-waterfront Palm Beach lot for $10M
Boston real estate chief sells non-waterfront Palm Beach lot for $10M
124 Brazilian Avenue (Google Maps)
VC head Robert Burch sells Palm Beach estate for $24M
VC head Robert Burch sells Palm Beach estate for $24M
Todd Glaser and Tarpon Island in Palm Beach (Google Maps, Getty)
Todd Glaser and partners list Palm Beach’s Tarpon Island for $218M
Todd Glaser and partners list Palm Beach’s Tarpon Island for $218M
(Getty)
Palm Beach County voters approve $200M affordable housing bond
Palm Beach County voters approve $200M affordable housing bond
arrow_forward_ios

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

Loading...