Scion of Kenan family sells Palm Beach mansion for $8M

Buyer John D. Olson paid 33% less than the original asking price from October

350 Indian Road and (inset) Frank H. Kenan (Realtor, Kenan Institute)
350 Indian Road and (inset) Frank H. Kenan (Realtor, Kenan Institute)

A scion of the Kenan family, which has prominent ties to Florida real estate and North Carolina academics and culture, sold her mansion in Palm Beach.

Holt Kenan Hemingway and her husband, Gregg Hemingway, sold the mansion at 350 Indian Road for $7.525 million, records show.

The buyer, John D. Olson, paid a 33 percent discount off the original listing price in October of $9.975 million.

Stephen Hall of Compass Florida represented the seller. Suzanne Frisbie of Premier Estate Properties represented the buyer, according to the listing.

The 7,220-square-foot, two-story house is designed around a courtyard with a pool, spa and fireplace. The house features a three-car garage, elevator and separate guest house.

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Built in 2006, the home has six bedrooms, six baths and two half-baths. The Hemingways had paid $7.905 million for the house in 2016, records show.

Gregg Hemingway is a real estate agent. Holt Kenan Hemingway’s step-grandfather, Frank Hawkins Kenan, ran oil and oil services companies and served for many years as chairman and CEO of The Flagler System Companies of Florida.

The Kenan name is associated with various universities in North Carolina, adorning UNC’s Kenan-Flagler Business School, its 265-seat Elizabeth Price Kenan Theatre and Duke University’s Frank Hawkins Kenan Plastic Surgery Research Laboratories.

The Kenan family also owns The Breakers in Palm Beach.

Luxury homes in Palm Beach continue to sell at record levels during the global pandemic. This week, an investor in energy services and his wife, a former Enron executive, paid $6.5 million for a house in Palm Beach.

And Esure insurance founder and chairman Peter J. Wood sold a Palm Beach home for $9.65 million to Edwin Lin, who heads Citadel’s global fixed income practice.