Developer Carl Panattoni pays $18M for West Palm estate on Everglades Golf Club

Panattoni focuses on office and industrial real estate in the US and Europe

Jun.June 29, 2018 01:30 PM

Carl Panattoni and 8 Golfview Road

Commercial real estate developer Carl Panattoni and his wife just paid $18 million for a home fronting the Everglades Golf Club in West Palm Beach.

Panattoni, chairman and founder of San Francisco-based Panattoni Development Company, and his wife Mary Jane purchased the 6,800-square-foot estate at 8 Golfview Road for about $2,600 per square foot.

Real estate developer Eduard de Guardiola sold the property to the Panattoni Living Trust. De Guardiola, former CEO of Vista Realty Partners in Atlanta, built the five-bedroom house in 2017. He paid $6.6 million for the half-acre site two years earlier. 

At the time, the property included a 1922 house designed by acclaimed architect Marion Sims Wyeth, who also designed the Mar-a-Lago mansion. Roush and her husband demolished the house to build the new one, according to the Palm Beach Daily News.

Panattoni Development Company specializes in office and industrial buildings and is one of the most active private industrial developers in the United States, according to its website. Carl Panattoni founded the company, which now has 24 offices in the U.S. and Europe, in Sacramento, California in 1986.

Panattoni will be down the road from another real estate developer, Francesco Galesi, who paid $6.5 million for the house at 19 Golfview Road last year.

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