Billionaire sells Palm Beach home 21% below asking price

George Lindemann got $25.2 million for the home, which he had listed for $32 million

Jun.June 17, 2017 12:00 PM

1565 North Ocean Way in Palm Beach

Billionaire George Lindemann and his wife Frayda sold their oceanfront house in Palm Beach for $25.2 million, 21 percent below the asking price.

They listed the house at 1565 North Ocean Way for sale in April 2016 with an asking price of $32 million, which they never reduced.

The Lindemanns bought the 3.4-acre property in 2008 for $23.5 million.

The renovated brick house and guest house have seven bedrooms altogether, 10,811 square feet of living space and 170 feet of frontage on the Atlantic Ocean.

Cristina Condon of Sotheby’s International Realty was the listing agent, and Corcoran Group agent Suzanne Frisbie represented the unidentified buyer.

Peter Marino of New York City, an architect and interior designer, extensively renovated the house for the Lindemanns, creating Indonesian-inspired interior spaces where the couple displayed their collection of Southeast Asian art. [Palm Beach Daily News]Mike Seemuth

Related Articles

From left: Michael and Suzanne Ainslie with 202 Plantation Road and Ron Terwilliger (Credit: Getty Images and Redfin)

Ex-Lehman Brothers director sells Palm Beach home to retired Trammell Crow CEO

Daily Digest Miami

Antonio Brown gives deposition for allegedly damaging Sunny Isles condo, Baptist plans senior living in Coral Gables: Daily digest

Robert Matthews and Palm House Hotel

Embattled Palm House developer Robert Matthews agrees to federal securities charges

Ken Griffin over the island of Palm Beach

Inside billionaire Ken Griffin’s massive Palm Beach holdings

Collage of Ken Griffin’s properties and Ken Griffin

Ken Griffin’s many many mansions: Billionaire’s latest is a $99M Palm Beach estate

Robert Matthews and the Palm House Hotel (Credit: NAIOP)

Palm House Hotel developer will use taxpayer money to pay legal bills: report

Steve Wynn and 1960 South Ocean Boulevard (Credit: Sotheby's and Getty Images)

Disgraced casino mogul Steve Wynn drops $43M on Palm Beach estate

President Donald Trump (Credit: Getty Images, Mar-A-Lago Club)

Trump properties in Palm Beach County could get $1.5M tax bill