Former tobacco exec scoops up Ecclestone Palm Beach spec home

Ecclestone broke ground on the home in 2015

Miami /
Nov.November 03, 2017 11:15 AM

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.


Related Articles

arrow_forward_ios
1201 Brickell Bay Drive, Citadel's Ken Griffin and 830 Brickell office tower in Miami (Google Maps, OKO Group and Cain International, Illustration by Priyanka Modi for The Real Deal with Getty)
Mapping out Ken Griffin’s Miami shopping spree
Mapping out Ken Griffin’s Miami shopping spree
Todd and Kim Glaser with 125 Via Del Lago in Palm Beach (Google Maps, Illustration by Priyanka Modi for The Real Deal with Getty)
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Frist Cressey Ventures Bryan Cressey with the property at 2315 S Ocean Blvd. in Palm Beach (Zillow, FCVentures, Illustration by Priyanka Modi for The Real Deal with Getty)
Venture capitalist sells oceanfront Palm Beach compound for $49M
Venture capitalist sells oceanfront Palm Beach compound for $49M
Citadel’s Ken Griffin and the former Neiman Marcus building at 151 Worth Avenue in Palm Beach (Citadel, Google Maps)
Ken Griffin’s South Florida state of mind: Citadel to open Palm Beach office
Ken Griffin’s South Florida state of mind: Citadel to open Palm Beach office
Rush and Kathryn Adams Limbaugh along with 1495 North Ocean Boulevard in Palm Beach (Getty Images, Zillow, iStock)
Rush Limbaugh’s oceanfront Palm Beach estate marketed for sale, asking up to $175M
Rush Limbaugh’s oceanfront Palm Beach estate marketed for sale, asking up to $175M
Ken Griffin, CEO of Citadel LLC, along with a rendering of his planned oceanfront estate in Palm Beach (Getty Images, Citadel LLC, iStock)
Here’s the oceanfront estate Ken Griffin plans to build for his mom in Palm Beach
Here’s the oceanfront estate Ken Griffin plans to build for his mom in Palm Beach
Lawrence Moens has represented many of Palm Beach's biggest-ticket buyers, including (L-R) : Larry Ellison, Steve Wynn, Ken Griffin and Donald Trump
Meet the mystery go-to agent for Palm Beach billionaires
Meet the mystery go-to agent for Palm Beach billionaires
A photo illustration of 2000 South Ocean Boulevard in Manalapan (bottom), 901 North Ocean Boulevard in Palm Beach (top left), and 102 Jungle Road in Palm Beach (top right) (Brown Harris Stevens, LoopNet, Realtor.com, iStock)
Skyrocketing prices: Top 10 Palm Beach County sales so far this year
Skyrocketing prices: Top 10 Palm Beach County sales so far this year
arrow_forward_ios

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

Loading...