Owners who once asked $89.5M for a Palm Beach mansion pull it off the market

They lowered their asking price several times for the never-occupied beachfront residence at 1071 North Ocean Boulevard, which spans 35,933 square feet

1071 North Ocean Boulevard in Palm Beach (Credit: Coldwell Banker Homes)
1071 North Ocean Boulevard in Palm Beach (Credit: Coldwell Banker Homes)

Three years after listing the property for sale with an asking price of $84.5 million, the owners of a never-occupied mansion on a beachfront site in Palm Beach pulled it off the market.

The asking price was down to $59.9 million when the listing for the 35,933-square-foot house at 1071 North Ocean Boulevard was canceled June 8.

The owners had lowered the asking price several times since listing the eight-bedroom residence for sale in March 2015.

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Broker Christian Angle had the listing for the mansion, reportedly built as a custom home for Vahan and Danielle Gureghian, who are both Philadelphia-based attorneys. A trust connected to the attorneys owns the property.

Angle told the Palm Beach Daily News that the Gureghians are “considering their options,” including possibly moving into the house.

The eight-bedroom house has seven bathrooms and 10 half-bathrooms. It also has dual ocean balconies, a grand salon, game room, library, pub room, home theater and massage room. [Palm Beach Daily News] – Mike Seemuth