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

Miami /
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.


Related Articles

arrow_forward_ios
Hyperion Group CEO Rob Vecsler, Starwood Capital CEO Barry Sternlicht and a rendering of 350 South Australian Avenue (M18 PR, Wikimedia)
Starwood acquires stake in West Palm Beach development site
Starwood acquires stake in West Palm Beach development site
Arnaud Karsenti and one of the properties at 435 Gardenia Street (Google Maps)
13th Floor Investments pays $26M for downtown West Palm Beach assemblage
13th Floor Investments pays $26M for downtown West Palm Beach assemblage
West Palm Beach workforce housing advances with $53M construction loan
Downtown West Palm Beach workforce housing project scores $53M construction loan
Downtown West Palm Beach workforce housing project scores $53M construction loan
AIMCO founder Terry Considine and a rendering of the Grand Flamingo tower
Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
(Facebook via Wynwood 25 and Joe's Pizza)
Lease roundup: New York pizzeria opening at Wynwood 25, logistics provider heading to Davie & more
Lease roundup: New York pizzeria opening at Wynwood 25, logistics provider heading to Davie & more
Related Chairman Stephen Ross with St. James Residences in West Palm Beach (Getty, St. Andrews and St. James)
Related Cos. completes $65M purchase of West Palm affordable senior housing
Related Cos. completes $65M purchase of West Palm affordable senior housing
Deepak Khosa and the Lake Arjaro Apartments (LoopNet, Khosa)
Deepak Khosa buys West Palm Beach apartments for $8M
Deepak Khosa buys West Palm Beach apartments for $8M
Marc Fisher and the West Palm Beach home (Getty, Douglas Elliman)
Shoe mogul Marc Fisher buys waterfront West Palm Beach mansion
Shoe mogul Marc Fisher buys waterfront West Palm Beach mansion
arrow_forward_ios

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

Loading...