Founder of UK property website buys oceanfront home in Palm Beach

Zoopla head Alex Chesterman paid $1,300 psf for South Ocean Boulevard house

TRD MIAMI /
Oct.October 25, 2017 11:45 AM

880 South Ocean Boulevard and Alex Chesterman (Credit: The Corcoran Group, ZPG)

UPDATED Oct. 25, 3:35 p.m.: The founder of a U.K. property listings website just found himself an oceanfront home in Palm Beach.

Alex Chesterman, founder and CEO of Zoopla’s parent company, dropped $8.75 million for a 6,840-square-foot house at 880 South Ocean Boulevard. The sale breaks down to about $1,280 per square foot.

A number of related brands operate under ZPG Plc, including Zoopla, uSwitch, PrimeLocation and Hometrack. Just this month, the company purchased the financial services comparison website Money.co.uk for £140 million, according to a press release.

The seller, Robert J. Dwyer, is a former Morgan Stanley executive who served as the bank’s executive vice president and national sales director from 1991 to 1999. Records show he bought the house with his wife Connie in 2001 for $3.6 million.

The five-bedroom, seven-and-a-half-bathroom home features a recently renovated kitchen and seawall. Other features include a library, two-car garage, pool and guest suite. Records show the two-story home was built in the 1950’s.

The Corcoran Group’s Jim McCann had the listing. Dwyer’s home has been on and off the market for years, with the highest asking price of $11.9 million in 2015, which means it sold at a 26 percent discount off the original asking price. The home was last listed for $10.8 million in March, and sold for 19 percent off that price, according to Redfin. McCann was not immediately available for comment. Dana Koch of Corcoran brought the buyer.

Just this week, New Jersey-based National Realty Investment Advisors bought a double lot in Palm Beach County for $7 million, a 26 percent discount off its $9.5 million asking price.

The residential market in Palm Beach is recovering from a slow 2016. The island saw a total of 96 single-family sales last year, according to MLS data. This year, the number of single-family homes sales hit 90 by October.


Related Articles

arrow_forward_ios
1556 North Ocean Boulevard (Credit: Google Maps)

Wife of South Florida builder sells Palm Beach spec home for $7M

Wife of South Florida builder sells Palm Beach spec home for $7M
Yongmee Michele Kang and 101 Worth Avenue in Palm Beach

Venture capital firm founder buys Palm Beach condo for $6M

Venture capital firm founder buys Palm Beach condo for $6M
Neil Bluhm with 215 Brazilian Avenue (Credit: CLINT SPAULDING/Patrick McMullan via Getty Images)

Billionaire real estate, casino magnate Neil Bluhm buys Palm Beach townhouse

Billionaire real estate, casino magnate Neil Bluhm buys Palm Beach townhouse
225 Arabian Road & E. Llwyd Ecclestone III (Realtor, Linkedin)

Homebuilder sells Palm Beach spec house for $6M

Homebuilder sells Palm Beach spec house for $6M
980 South Ocean Boulevard & Jane Holzer (Credit: Google Maps. and Jared Siskin/Patrick McMullan via Getty Images)

Family of Warhol muse Jane Holzer buys Palm Beach home for $8M

Family of Warhol muse Jane Holzer buys Palm Beach home for $8M
Christopher Sinclair and 309 Dunbar Road, Palm Beach (Wikipedia, Realtor)

Child’s play: Former Mattel CEO pays $10M for Palm Beach house

Child’s play: Former Mattel CEO pays $10M for Palm Beach house
1328 Lake Worth Lane & Jeong H. Kim (Credit: Google Maps)

Tech titan buys waterfront North Palm Beach home for $9M

Tech titan buys waterfront North Palm Beach home for $9M
210 Wells Road, Palm Beach and Scott Sechler (Credit: Google Maps)

Flew the coop: Chicken processor family sells Palm Beach house

Flew the coop: Chicken processor family sells Palm Beach house
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...