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Billionaire businessman sells North Palm Beach mansion for $19M
Huge home in Old Port Village initially listed for $23.5M
Billionaire businessman Jude Reyes sold his waterfront mansion in North Palm Beach for $19.2 million.
Reyes and his wife, Lori Welch Reyes, bought the property at 11750 Turtle Beach Road in Old Port Village for $16.1 million in 2014. They listed the 8,709-square-foot home, which has eight bedrooms and 8.5 bathrooms, for $23.5 million at the beginning of the year.
The buyers are Alexander D. and Laura F. Hanson. Alexander Hanson is an executive at TGS Management Company LLC, a New Jersey-based equity securities trading firm. Paul Kaneb with K2 Realty, Inc. brokered the deal between the two parties.
Reyes is co-chairman of Reyes Holdings, a food and beverage distributor that owns two Coca-Cola bottlers, and is among the largest beer distributors in the U.S. His net worth is estimated at $5.4 billion, according to Forbes.
Palm Beach has seen several high-priced sales over the summer. Tad Smith Jr., the former president and CEO of Sotheby’s, recently bought a 6,100-square-foot home for $7.7 million. A spec home sold for $7.2 million, and a condo unit sold to a venture capital firm CEO for $5.5 million.