Insurance mogul sells Palm Beach estate for $8M

Irvin Saltzman and his wife sold the 5,610 sf house for $1,354 psf

Nov.November 06, 2019 08:45 AM
225 Seabreeze Avenue (Realtor)

225 Seabreeze Avenue (Realtor)

Insurance mogul Irvin Saltzman and his wife Robin sold their Palm Beach estate for $7.6 million.

Saltzman sold the 5,610-square-foot house at 225 Seabreeze Avenue for $1,354 per square foot, records show. Robert Berg of Key Largo purchased the property.

The house is in the center of the tony island town. The Mediterranean two-story house has four bedrooms and five-and-a-half bathrooms. It sits on a 0.4-acre lot and was built in 2008 by Paul Wittmann of Wittmann builders.

Saltzman purchased the house for $6.3 million in 2014, records show.

Trina Lane of Waterfront Property & Club Community represented the seller in the deal. The buyer was represented by Samantha Curry of Douglas Elliman.

Saltzman founded Penn-America Group in 1975. It works with small businesses that have limited access to larger standard lines insurers and are seeking insurance in the excess and surplus lines markets, according to its website.

The ultra-high-end residential market in Palm Beach boomed over the summer, during what is typically the off-season. Fourteen single-family homes totaling more than $343 million in sales volume closed in July, according to MLS and Palm Beach County data compiled by Premier Estate Properties.

Hedge funder Steven Schonfeld is reportedly under contract to purchase Sydell Miller’s Palm Beach oceanfront estate for close to $200 million, breaking the record for the most expensive home sale in the ritzy enclave.

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