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The Real Deal Miami

Palm Beach waterfront mansion hits the market at $105M

The 28,400 sf home is asking about $3,700 psf
November 02, 2017 05:00PM

1341 South Ocean Boulevard and John O. Pickett (Credit: Google Maps, Brown Harris Stevens)

Edward G. Watkins II and his wife Karen Watkins just listed their Palm Beach waterfront mansion for $105 million, according to the Wall Street Journal.

The 28,400-square-foot home at 1341 South Ocean Boulevard is asking about $3,700 per square foot. If sold at that price, the sale would be deemed one of the highest in the tony town.

To date, the highest sale price was set by hedge fund manager Ken Griffin, who in 2012 paid $130 million for four adjacent lots on Blossom Way. Earlier this year Griffin paid $85 million for a 4.18-acre estate nearby at 1290 South Ocean Boulevard, with plans to build a new home.

John O. Pickett of Brown Harris Stevens has the listing for 1341 South Ocean Boulevard, according to the Journal.

Edward Watkins was president and principal owner of the Simplex Time Recorder Co., which was bought by Tyco International for $1.15 billion in 2001, according to the Journal. Simplex manufactured, sold and serviced fire alarm systems, security systems and time-equipment products.

Records show Watkins bought the house in 2001 for $17.7 million. Pickett told the Journal that Watkins paid more than $21.5 million for the 2-acre property, which may have included furnishings.

Watkins demolished the home that was originally on the site and completed the current seven-bedroom, eight-bathroom and four half-bathroom home in 2004, according to the Journal.

Features of the home include a central courtyard with a pool, landscaped gardens and shaded, columned seating areas, Pickett told the Journal. Other notable features include an 18th-century fireplace imported from Italy, hand-carved coffered ceilings and a two-story winding marble staircase.

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. [WSJ] – Amanda Rabines