Homebuilder sells Palm Beach spec house for $6M
Developer bought the property for $2.4M in 2017, then built the house
A company tied to Palm Beach developer E. Llwyd Ecclestone III sold a spec house on the island for $5.7 million.
Ecclestone’s 225 Arabian Road LLC sold the house at 225 Arabian Road to Diano-Smith LLC, a Delaware entity tied to Wilmington Trust Company, property records show.
The four-bedroom, 4,247-square-foot home, designed by architect Roger Janssen of Dailey Janssen Architects, features five-and-a-half bathrooms and a pool, and is walking distance to the beach, according to the listing. Patricia Dudan Ecclestone of the Corcoran Group was the listing agent.
The new home went on the market asking $7.4 million in July 2019. The price was reduced to $6.7 million in December.
Ecclestone III bought the property in 2017 for $2.4 million, demolished the house that was previously on the site, and built the home in 2019, records show.
Ecclestone III, who heads Ecclestone Signature Homes, a division of Four Points Construction LLC, is a third-generation homebuilder in Palm Beach. Ecclestone’s father, E. Llwyd Ecclestone Jr., developed the PGA National Resort in Palm Beach Gardens.
Palm Beach has seen no shortage of sales during the pandemic. This month, former model and actress Jane Holzer bought a house in Palm Beach for $8 million.