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Heir to coal fortune lists Palm Beach estate for $38M
James Berwind wants to sell the mansion as he plans to travel via yacht with his partner
UPDATED, Nov. 15, 1:17 p.m.: A member of the Berwind family that made its fortune in the coal industry is listing a custom lakefront estate in Palm Beach for $37.5 million.
James Berwind and his partner, real estate agent Kevin Clark, built the nearly 10,000-square-foot Bermuda-style mansion at 320 Island Road. It’s now hitting the market with Cristina Condon of Sotheby’s International Realty. The couple is looking to sell the six-bedroom, six-bathroom compound as they plan to travel the world on a new yacht, according to the Palm Beach Daily News.
Berwind, an environmental architect and animal-rights activist, is a son of the late Charles Graham Berwind Jr., the former leader of the Berwind Group. The company was historically involved in the coal industry and later became an investment management firm.
The Palm Beach property includes a two detached two-story guest house, with four-bedroom suites, a boat lift, full-house generator, car lifts in the garages, smart home features, 232 feet of water frontage on Tarpon Cove, gardens, patios, a waterfall and pool.
Property records show Berwind paid $9.7 million for the 0.6-acre lot in 2012.
The ultra high-end home sale market hit an all-time high this summer in Palm Beach. 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. By comparison, in July of last year, 10 properties sold for only $97 million. [Palm Beach Daily News] – Katherine Kallergis
An earlier version of this story included incorrect listing information.