BuyBuy Baby founders Richard Feinstein and Jeffrey Feinstein just paid $21 million for a spec home in Palm Beach, built his year by luxury home builder Malasky Homes.
The trade for the 7,670-square-foot house at 488 Island Drive on Everglades Island breaks down to about $2,740 per square foot. Records show Richard and Jeffrey Feinstein were listed as trustees of the RSF Trust.
The seller, 488 Island Drive LLC, is tied to the family-owned homebuilding business led by Bruce Malasky. Records show the entity paid $8.4 million for the half-acre property in 2015.
The Feinsteins are brothers who founded the infant and young children’s retailer BuyBuy Baby in 1996. The siblings sold the company in 2007 for $67 million to Bed Bath & Beyond, which was co-founded by their father Leonard Feinstein.
The property, once listed for as high as $27.9 million, features Intracoastal Waterway views from three sides as well as a pool and loggia. Other features include multiple fireplaces, a wine cellar, an elevator and a one-bedroom guest apartment.
Christian Angle with Christian Angle Real Estate represented the seller and brought the buyer.
Other owners on the exclusive Palm Beach island have included a former Bear Stearns executive, a member of the St. Louis-based Hermann family, and the founder of the Checkers fast food chain.