Ask for Palm Beach mansion drops $5M to $64.9M

The owners of a never-occupied, eight-bedroom mansion in Palm Beach cut their asking price by $5 million to $64.9 million.

The new $64.9 million asking price for the French Chateau-style mansion is almost $20 million below the original asking price when it was listed for sale more than two years ago.

The 35,993-square-foot residence at 1071 North Ocean Boulevard is still the most expensive home listed in the Palm Beach Board of Realtors Multiple Listing Service.

Several other Palm Beach homes have higher asking prices but are not listed in the Palm Beach Board of Realtors Multiple Listing Service. These include 1500 South Ocean Boulevard, owned by Netscape co-founder Jim Clark, who wants $137 million for his ocean-to-lake mansion.

Broker Christian Angle has represented the owners of 1071 North Ocean Boulevard since they first listed the residence for sale in March 2015. The owner is a trust linked to Philadelphia-area lawyers Vahan and Danielle Gureghian, who initially planned to occupy the custom-built home.

The Gureghians’ Palm Beach residence features a bowling alley, home theater, pub room and library, plus dual ocean balconies and an eight-car garage.

It was the fourth most expensive home listed for sale in Florida when the asking price was $69.9 million, New York City-based PropertyShark.com reported earlier this year. [Palm Beach Daily News] – Mike Seemuth