Pharmaceutical heir wants $27M for custom manse in Palm Beach

Merck pharmaceutical heir George Merck and his wife Adele have officially listed their custom-built lakefront house in Palm Beach for $27 million.

The couple is selling the mansion at 1197 North Lake Way, which they built for themselves in 2009 after demolishing the property’s previous 1930s-era home, according to the Palm Beach Daily News.

Measuring 14,310 square feet, the estate has six bedrooms, eight bathrooms and a Northeastern-style architecture that’s an unusual find in Palm Beach. It occupies a three-quarter-acre lot overlooking Lake Worth and boasts enough dock space to fit a 100-foot yacht.

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The Mercks aren’t through with Palm Beach, however. According to the Daily News, they are simply downsizing to a much smaller 5,300-square-foot home they’ve received plan approvals for at 167 Seagate Avenue.

Brown Harris Stevens’ Liza Pulitzer and A. Whiteny McGurk are the listing agents. The asking price breaks down to just under $1,887 per square foot.

George F. Merck is son of the late George W. Merck, a former executive of the Merck pharmaceutical company. According to its website, the firm raked in $39.5 billion in revenue during the last year. [Palm Beach Daily News]Sean Stewart-Muniz