Private equity CEO Thompson Dean pays $41M for Palm Beach mansion

Property sold for 40% discount off original ask

Jun.June 18, 2018 08:45 AM

1485 South Ocean Boulevard and Thompson Dean (Credit: Redfin)

Avista Capital Partners CEO and managing partner Thompson Dean and his wife, Caroline, just paid $41.3 million for a lakefront estate in Palm Beach, property records show.

The 2.3-acre property at 1485 South Ocean Boulevard hit the market asking $67.5 million in 2015 with Christian Angle of Christian Angle Real Estate. Three years later, the property sold at a nearly 40 percent discount off its original ask.

The mansion belonged to the late investment banker Damon Mezzacappa. Mezzacappa was the former vice chairman of Lazard Freres in New York and also worked at Morgan Stanley. In South Florida, he developed some properties in Miami’s Wynwood neighborhood. He died in 2015, the same year the property was listed for sale.

Roman Martinez IV sold the 22,160-square-foot home on behalf of Mezzacappa, according to property records. The deal breaks down to about $1,860 per square foot.

The Mediterranean-style, two-story mansion features a fireplace, temperature-controlled wine room, 300 feet of water frontage and a gym. It’s located on Billionaires Row in the South End area of Palm Beach, near billionaire Ken Griffin’s sprawling assemblage of land.

Dean recently listed his penthouse at the Four Seasons Residences at The Surf Club for $21.5 million with Compass agents Liz Hogan and Karen Krotov. He closed on the unit in December for $15.9 million.

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