The Real Deal Miami

Lake-to-ocean estate in Palm Beach sells for $22.43M

The 11-bedroom residence about a mile south of Mar-a-Lago was listed for sale in late March with an asking price of $27M
May 19, 2018 01:30PM

1616 South Ocean Boulevard in Palm Beach

An oceanfront estate in Palm Beach about a mile south of President Trump’s Mar-a-Lago resort sold for $22.43 million.

Ashley McIntosh, an agent of Douglas Elliman Real Estate, represented an unidentified family that bought the property at 1616 South Ocean Boulevard.

The family used an entity based in Lake Wales to buy the 11-bedroom estate, which has 18,866 square feet of indoor and outdoor living space.

The sellers of the property are Luciana Vittoria and her husband Joseph V. Vittoria, former chairman and chief executive officer of rental car company Avis Inc.

Property records show Luciana Vittoria bought the estate in 1996 for $5.75 million.

The estate was built in 1973 with a main house and guest house on approximately two acres with 151 feet of frontage on the ocean and 155 feet of lakefront.

According to the property’s listing, it is one of only 25 estates in Palm Beach with water views to the east and west.

In late March, two agents of brokerage firm Brown Harris Stevens, Gregory K. Weadock and Carole Hogan, co-listed the estate with a $27 million asking price, and by late April, the estate was under contract. [Palm Beach Daily News] – Mike Seemuth