Family of railroad tycoon Hunter Harrison now controls Wellington equestrian estate

Partnership listed the property in December for $45M

TRD MIAMI /
Nov.November 02, 2017 03:00 PM

The property at 4715 and 4827 125th Avenue South (Credit: MLS)

The family of railroad tycoon E. Hunter Harrison just paid $14.13 million to buy out partner Bennington Farm Corp. at the equestrian estate in Wellington they jointly owned, property records show.

Double H Property Holdings, which is managed by members of the Harrison family through various trusts, is now in the driver’s seat (or the saddle, if you will) of the 32.5-acre property at 4715 and 4827 125th Avenue South. The deal to take full ownership breaks down to about $435,000 per acre.

Bennington Farm Corp., led by Ira J. Gumberg, is tied to the Pittsburgh-based commercial real estate firm J.J. Gumberg Co. Records show Gumberg purchased the land for $3 million in 2004.

Harrison, who was hired as CEO of Jacksonville-based CSX in March, spent a total of $12 million for 50 percent ownership in the property in 2010 and 2011, records show. He was formerly the CEO of Canadian Pacific Railway.

Last year the partners listed the property for $45 million. The equestrian estate includes two horse barns with a total of 50 stalls, riding rings, a hunter/jumper course, a tennis court and a lake. The ranch’s residence, which spans more than 10,000 square feet, features six bedrooms.

Wellington is home to a number of wealthy equestrian enthusiasts, including Bill Gates ‘family, Steve Jobs’ widow and billionaire Laurene Powell Jobs and Georgina Bloomberg, the daughter of former New York City Mayor Michael Bloomberg.

Earlier this month, another Wellington equestrian estate traded for about $17 million to a company owned by Nate Ward, partner and co-founder of the private equity investment firm Palm Beach Capital.


Related Articles

arrow_forward_ios
Jon Beason, Ozuna and 3812 Park Avenue (Getty, Engel & Voelkers Coconut Grove)

Reggaeton artist Ozuna drops $5M on Coconut Grove house

Reggaeton artist Ozuna drops $5M on Coconut Grove house
Seth Cohen and Phil Gutman

Brown Harris Stevens Miami launches sports and entertainment division

Brown Harris Stevens Miami launches sports and entertainment division
Neil Hirsch and Coach House (Getty)

Saddle up: Sales launch at Wellington luxury condo development aimed at polo players

Saddle up: Sales launch at Wellington luxury condo development aimed at polo players
Bon Jovi and 1075 North Ocean Boulevard (Getty, Realtor)

Bon Jovi pays $43M for oceanfront Palm Beach estate

Bon Jovi pays $43M for oceanfront Palm Beach estate
Jon Bon Jovi and 230 North Ocean Boulevard (Credit: RE/MAX and Theo Wargo/Getty Images)

Jon Bon Jovi sells oceanfront Palm Beach house

Jon Bon Jovi sells oceanfront Palm Beach house
Major key: DJ Khaled sells waterfront Aventura home for 40% discount

Major key: DJ Khaled sells waterfront Aventura home for 40% discount

Major key: DJ Khaled sells waterfront Aventura home for 40% discount
Four Seasons Residences at The Surf Club with Tommy and Thalía Mottola (Credit: Craig Barritt/Getty Images)

Thalía and Tommy Mottola pay $8M for Surf Club Four Seasons condo

Thalía and Tommy Mottola pay $8M for Surf Club Four Seasons condo
Richard Roeder of Vance Street and 15130 Sunny Island Lane (Credit: Realtor)

Private equity exec buys Wellington equestrian estate for $12M

Private equity exec buys Wellington equestrian estate for $12M
arrow_forward_ios

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

Loading...