The owner of the popular Palm Beach restaurant Ta-boo sold a house on the island for $12.4 million.
Franklyn P. deMarco Jr. sold the newly constructed 7,224-square-foot home at 251 Dunbar Road for $1,716 per square foot. The trust of Alexandra Hersey Hamm of Palm Beach bought the house, records show.
The property last sold for $5 million in May 2018, records show. The new home has five bedrooms and seven-and-a-half bathrooms, according to Realtor.com. It sits on 0.45 acres.
Betsy Fry with Sotheby’s International Realty – Palm Beach Brokerage represented the seller, while Linda A. Gary with Linda A. Gary Real Estate represented the buyer, according to Realtor.com.
The property features a full bar with dual wine coolers, two fireplaces, a large loggia and patio for inside and outside dining. It also includes a library with a fireplace, three-car garage, and a pool cabana with a fireplace, the listing shows.
DeMarco has owned the high-end American bistro Ta-boo on Worth Avenue since 1990. The restaurant has existed since the 1940s when it was a nightclub, and was visited by Frank Sinatra, John F. Kennedy and the Duke and Duchess of Windsor, according to Florida Weekly.
Palm Beach’s ultra luxury market has shown no signs of slowing down during the pandemic.
In June, Robb E. Turner, a private equity investor turned maple syrup magnate, and his wife, Lydia Turner, sold their lakefront Palm Beach estate for $71.85 million, marking the highest priced sale this year in the ritzy town.
Also last month, the Kennedy family’s former Palm Beach compound, where President John F. Kennedy worked on his 1961 inaugural address, sold for $70 million.