First lot from former Kluge estate sells for $6.99M

Sir Peter Wood bought the estate for $39 million last year and turned it into a five-lot subdivision

TRD MIAMI /
Oct.October 08, 2017 04:15 PM
The John Kluge estate in Palm Beach

The former John Kluge estate in Palm Beach

Sir Peter Wood got $6.99 million for selling the first of five lots in Palm Beach he subdivided from the estate of late billionaire John Kluge.

Wood sold the 20,361-square-foot lot for approximately $343 per square foot to a Palm Beach couple who own an oceanfront home adjacent to the lot.

The lot had been listed for sale with a $7.95 million asking price.

The new owners are Thomas D. and Mary Alice O’Malley, who reside at 101 El Bravo Way.

The former Kluge estate is located at the corner of El Bravo Way and South County Road.

Wood bought the former Kluge estate for $39 million in 2016 from the billionaire’s alma mater, Columbia University. Kluge bequeathed the 5.12-acre property to the university before he died in 2010.

Wood is marketing the remaining four lots at asking prices that range from $6.89 million to $14.5 million. [Palm Beach Daily News] — Mike Seemuth


Related Articles

arrow_forward_ios
630 Island Drive and Mark Biondi

Related Beal exec linked to purchase of $19M Palm Beach estate

Carl Panattoni, Raymond G. Perelman and 965 North Ocean Boulevard in Palm Beach (Credit: Panattoni, PennToday, and Google Maps)

Developer Carl Panattoni drops $29M on Palm Beach estate

Dan Gilbert and 100 El Bravo Way (Credit: Getty Images and Realtor)

Company tied to Quicken Loans buys Palm Beach estate for $25M

670 Island Drive and Paul Shiverick (Credit: Getty Images) 

Hedge funder sells Palm Beach home for $19M

Todd Glaser and the home

Todd Glaser venture sells Palm Beach spec home for $9M

134 El Vedado Road (Credit: iStock)

Developer sells Palm Beach estate for $14M

800 South County Road (Credit: Realtor)

Mizner estate in Palm Beach sells for $24M

Nirka Burns Padilla and Martin Conroy 

Movers & Shakers: Palm Beach broker leaves William Raveis for Douglas Elliman & more

arrow_forward_ios
Loading...