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Former tobacco exec scoops up Ecclestone Palm Beach spec home
Ecclestone broke ground on the home in 2015
A Palm Beach home developed by E. Llwyd Ecclestone Jr. just sold to long-time tobacco executive Martin Orlowsky and his wife Carolyn for $5.6 million, property records show.
Orlowsky previously served as chairman, president and CEO of Lorillard, the company behind cigarette brands as Newport, Maverick and Old Gold. In 2014 he was named executive chairman of U.S. business for the British tobacco maker Imperial Brands. He is now retired, according to LinkedIn.
The couple paid more than $1,255 per square foot for the 4,463-square-foot home at 204 Jamaica Lane. Broker Bill Yahn of the Corcoran Group said the buyer actually paid more than the recorded sales price, but would not provide an exact number, adding that the buyers paid for the commission and for some personal property and appliances.
Records show an affiliate of Ecclestone’s West Palm Beach-based investment company, the Ecclestone Organization, bought the lot in 2015 for $2.17 million. The company began construction of the home that same month after scoring $3.6 million in financing from Stonegate Bank, according to a notice of commencement.
The Corcoran Group’s John Campbell had the listing. Matthias Fretz of Douglas Elliman brought the buyer, according to Redfin. The home hit the market in March for $6.39 million, according to online listings.
The five-bedroom, five-and-a-half bathroom home was designed by architect Pat Seagraves with custom detailing by Lisa Erdmann & Associates Interior Design. Features include marble baths and limestone flooring paired with hardwood, stones and marble. The home is within close distance to the ocean and the Palm Beach Country Club.
Last month, a nearby home sold to the founder of the New York-based private equity firm Lexington Partners and his wife for $7.8 million.
The Ecclestone family has a history of development in Palm Beach County. Ecclestone Jr. developed the PGA National Resort in Palm Beach Gardens, and his son Ecclestone III runs a company that builds estate homes.
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