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Hedge funder’s North Palm Beach estate hits the market for $80M
It has 520 feet of ocean frontage, tennis court, theater and wine room
One of the largest oceanfront estates in Palm Beach County hit the market on Tuesday asking $79.5 million.
The 7.35-acre compound at 12525 Seminole Beach Road in the Seminole Landing neighborhood of North Palm Beach was listed for sale, according to Realtor.com. The gated home within a gated community is owned by a land trust linked to Gabriel A. Hoffman, who heads the activist hedge fund Accipiter Capital Management.
Gary Pohrer of Douglas Elliman is the listing agent. Elliman declined to comment.
The Tuscan-style estate has seven bedrooms, 11 bathrooms, three half-baths and more than 520 feet of ocean frontage. The property features a large private pool, theater, wine room, chef’s kitchen, tennis court, and guest suite.
It’s one of a “handful of properties in Florida where someone could land and take off in a helicopter from the estate,” the listing states.
The 15,514-square-foot estate was developed in 1991 and last sold in 2012 for $17.5 million.
The property is the second most expensive residential listing in Palm Beach County. At the top is the $137.5 million listing of the Ziff estate at 2000 South Ocean Boulevard in Manalapan.
In May, the trust of the late former CEO of General Electric, Jack Welch, sold a waterfront estate at 11935 Lost Tree Way, near North Palm Beach, for $21 million.
In March, the co-founder of private equity firm Bain Capital bought a waterfront North Palm Beach estate at 11087 Old Harbour Road for $16.8 million or $2,134 per square foot.
Last year, Ohio real estate scion and casino developer Jeffrey Jacobs listed his North Palm Beach estate at 12088 Banyan Road for $42 million. It’s still on the market.