NY insurance mogul buys Palm Beach Gardens estate for $5.2M

The two-story 7,121 home sold for $730 psf

12237 Tillinghast Circle (Inset: Paul W. Lovullo)
12237 Tillinghast Circle (Inset: Paul W. Lovullo)

Paul W. LoVullo of Depew, New York-based insurance company R-T Specialty, and his wife Alison just paid $5.2 million for a mansion in Palm Beach Gardens. LoVullo was previously with LoVullo Associates, which was acquired by R-T Specialty in March.

The two-story, 7,121-square-foot home at 12237 Tillinghast Circle sold for $730 per square foot. The home comes with five bedrooms, eight bathrooms and sits on a 1.03-acre lot, according to Zillow.

The house was designed by Courchene Development. Features include high-raised ceilings, a pool and spa, a fireplace, a wine cellar and a winding staircase that leads to the second floor’s three guest rooms and home theater. The kitchen comes with granite counter tops, a center island and a butler’s pantry, according to Realtor.com.

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The seller is Sidney Spiegel, chairman of the Palm Beach-based solar solutions company Solar Services Florida. He also owns Palm Beach’s Royal Poinciana Plaza. Property records show Spiegel bought the home in 2010 for $4 million or $561 per square foot.

Former Miami Dolphins head coach Don Shula and his wife Mary Anne Shula listed their nearby Palm Beach Gardens home for $2.7 million, in February. The NFL coach also licensed his name to restaurants like the Shula’s steakhouse chain and Shula Burger, and has the Shula’s Hotel & Golf Club in Miami Lakes.

Also in Palm Beach County, U.S. Secretary of Housing and Urban Development and former presidential candidate Ben Carson sold his 7,792-square-foot house in West Palm Beach for $920,000 in May.