The Real Deal Miami

Zoopla founder buys oceanfront Palm Beach home next door to his for $11M

Alex Chesterman spent $19.5M on both houses
By Amanda Rabines | August 17, 2018 12:34PM

Alex Chesterman and 888 South Ocean Boulevard

UPDATED, Aug. 20, 9 a.m.: The founder of a U.K. property listings website just found himself another oceanfront home in Palm Beach, this time picking up his neighbor’s property for $10.75 million.

Alex Chesterman, founder and CEO of Zoopla’s parent company, ZPG Plc., bought the 6,853-square-foot house at 888 South Ocean Boulevard, nearly a year after spending $8.75 million on the neighboring home at 880 South Ocean Boulevard.

In addition to Zoopla, uSwitch, PrimeLocation and Hometrack operate under the ZPG umbrella. In October, the company purchased the financial services comparison website Money.co.uk for 140 million euros.

The Palm Beach property hit the market in 2016 for $13.5 million with listing agent Lawrence Moens. In April, the price increased to $13.8 million, according to Realtor.com. Dana Koch of Corcoran represented the buyer in both deals.

The sellers, Mary Theresa Khawly and Roosey Khawly, paid $2.9 million for the home in 2001, records show. The four-bedroom house was built in 1951 and features an oceanfront cabana and pool.

About a mile south, billionaire hedge funder Ken Griffin has assembled the largest residential estate site on the island, now spanning about 17 acres.

An earlier version of this story listed incorrect square footage for the house.