Child’s play: Former Mattel CEO pays $10M for Palm Beach house
The sellers paid $10M for the house in 2018
The former CEO and executive chairman at Mattel — the toymaker known for such brands as Barbie, Hot Wheels and American Girl — traded one Palm Beach “dream house” for another.
Christopher A. Sinclair and his wife, Margaret, bought the 7,169-square-foot house at 309 Dunbar Road for $9.9 million, according to records.
In June, the Sinclairs sold an 8,423-square-foot mansion at 516 South Ocean Boulevard in Palm Beach — less than three miles away from the new house — for $24.2 million.
The two-story Dunbar Road house has five bedrooms and five bathrooms and was built in 2016. It features a heated pool and spa and wine room.
Pamela Miller with Bradford P. Miller Real Estate represented the buyer, according to an online listing. James McCann with Premier Estate Properties had the listing. The house listed in February for $11.15 million.
The sellers, Steven K. Hudson and his wife, Melanie, bought the house in 2018 for $9.8 million.
Hudson, the CEO of a Toronto-based financial services company, paid $6.5 million in August for a condo at The Bristol in West Palm Beach.
Christopher Sinclair took over as Mattel CEO from 2015 to 2017. He had served on Mattel’s board since 1996, remaining chairman until his retirement in 2018. His resume also includes executive roles with PepsiCo, CEO of Quality Food Centers, CEO of Caribiner International and leadership roles at venture capital and private equity firms.
Margaret Sinclair and their son, William, serve on the advisory council for the Breast Cancer Alliance. William Sinclair is a managing director and head of the financial institutions group at JP Morgan Private Bank, overseeing more than $50 billion in assets, according to the company’s website.
Other recent Palm Beach sales include the family behind America’s oldest branded chicken company, Bell & Evans, selling their house for $5.1 million, and an heiress to a late Massachusetts lumber and real estate magnate selling a house for $9.5 million.