Hedge funder sells Palm Beach home for $19M

The house sold for $3,753 psf

Feb.February 18, 2020 02:30 PM
670 Island Drive and Paul Shiverick (Credit: Getty Images) 

670 Island Drive and Paul Shiverick (Credit: Getty Images)

Hedge funder Paul Shiverick and his wife sold their Palm Beach home on Everglades Island for $18.8 million.

The 5,009-square-foot house at 670 Island Drive sold for $3,753 per square feet to Golden Crate LLC of Palm Beach. The sale reflects growing interest in Everglades Island, on the west side of Palm Beach on the Intracoastal Waterway.

The home was listed for $21 million earlier this year. Built in 2014, the house has five bedrooms, seven bathrooms and two half-bathrooms.

The property was last purchased for $5.7 million in 2012.

The house sits on 0.4 acres and is surrounded by a 900-square-foot central courtyard that has fountains and water views. The home also has a pool and a private dock with a boat lift.

Shiverick is the co-founder of Seminole Management Company and co-chairman of the Cancer Research Institute. The hedge fund specializes in trading value stocks, according to the Wall Street Journal.

Palm Beach’s Everglades Island has seen a number of high-end sales recently. In September, the widow of an heir to the Colgate-Palmolive fortune sold her estate at 655 Island Drive for $12.68 million. In February of 2019, Malasky Homes sold a 5,769-square-foot spec home at 608 Island Drive on Everglades Island for $15.5 million, or about $2,695 per square foot.

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