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.