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South Florida

Spec townhouse in Palm Beach sells for $5.65 million

176-180 Sunset Avenue in Palm Beach (Credit: VHT Studios)
176-180 Sunset Avenue in Palm Beach (Credit: VHT Studios)

The developers got $5.65 million for the second of two townhouses they built on speculation in a duplex on Sunset Avenue in Palm Beach.

John Flynn Sr., John R. Flynn Jr. and Leona Flynn, who finished building the Georgian-style duplex in 2015, sold the townhouse at 180 Sunset Avenue to a Palm Beach couple.

The Flynns sold the other townhouse, at 176 Sunset Avenue, last May for $5.9 million to an affiliate of Franklin Templeton Investments, headed by billionaire and Palm Beach resident Charles Johnson.

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The Flynn family has a private, Dublin-based development company with a portfolio of projects in Ireland and England.

Agents Toni Hollis and Gloria Moré of The Fite Group had listed the identical 4,724-square-foot townhouses at 176-180 Sunset Avenue for sale with an asking price of $6.2 million each.

Judith and Thomas Iovino, who bought the townhouse at 180 Sunset Avenue, just listed their nearby townhouse at 152 Sunset Avenue for sale for $5.3 million. The listing agents are Dana Koch and Paulette Koch of Corcoran Group. [Palm Beach Daily News] – Mike Seemuth

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Palm Beach