Real estate financier drops $6M on Palm Beach home

Property was on the market for three months

Miami /
Oct.October 16, 2020 12:30 PM
Carl Esrey & 119 E Inlet Drive (Credit: Google Maps)

Carl Esrey & 119 E Inlet Drive (Credit: Google Maps)

The founder of a Texas real estate lending firm paid $5.8 million for a Palm Beach house.

Records show Carl Esrey of Dallas-based BMC Capital, bought the home at 119 East Inlet Drive from Suzan J. Mitchell, an unmarried widow.

Esprey founded BMC Capital, a direct lender and mortgage brokerage, in 1991. BMC specializes in financing commercial real estate from $500,000 to $15 million. Esrey also serves as the CEO of BMC Bancshares, the holding company of Titan Bank N.A., and serves as Mineral Wells, Texas-based Titan Bank’s chairman, according to BMC Capital’s website.

Mitchell had bought the property for $5.2 million in 2015, one year after it was built, records show.

Lynn Warren with Sotheby’s International Realty represented Mitchell, and Dana Koch of The Corcoran Group represented Esrey.

The 5,066-square-foot, four-bedroom, four-and-a-half-bathroom house was not on the market for long. According to Realtor.com, the home was listed in July for $6.1 million.

This sale is among a surge in high-priced home sales in Palm Beach during the pandemic. This month, the former MagicJack Chairman Donald Burns sold his longtime Palm Beach estate for $28 million. Last month, the former president and CEO of Sotheby’s bought a newly built Palm Beach home for $7.7 million.






    Related Articles

    arrow_forward_ios
    Rick and Marie Wackenhut with 930 South Ocean Boulevard in Palm Beach (Google Maps, Nantucket Statue Fund) 
    Wackenhut heir sells historic Palm Beach estate for $18M
    Wackenhut heir sells historic Palm Beach estate for $18M
    Donald Trump with sons Eric and Don Jr. and 1125 South Ocean Boulevard (Getty, Google Maps/Illustration by Alexis Manrodt for The Real Deal)
    Trump lists beachfront mansion next to Mar-a-Lago for $49M
    Trump lists beachfront mansion next to Mar-a-Lago for $49M
    Chris Leavitt, Ashley McIntosh, Tal Alexander, Oren Alexander, Dina Goldentayer and Gary Pohrer (Douglas Elliman)
    Palm Beach agent Gary Pohrer and The Alexander Team take top awards at Elliman
    Palm Beach agent Gary Pohrer and The Alexander Team take top awards at Elliman
    1440 South Ocean Boulevard and Sydell Miller (Google Maps, Getty)
    Facelift required: Beauty mogul sells Palm Beach lot for $42M
    Facelift required: Beauty mogul sells Palm Beach lot for $42M
    450 Royal Palm Way and the buyer H. William Perry. (Google Maps, Gunster)
    Banker’s Row office building in Palm Beach sells for $17M
    Banker’s Row office building in Palm Beach sells for $17M
    Carl Panattoni and 965 North Ocean Boulevard (Photos via Panattoni Europe, Google Maps)
    Carl Panattoni sells oceanfront Palm Beach property for $34M to Stock Development
    Carl Panattoni sells oceanfront Palm Beach property for $34M to Stock Development
    David Tepper and 905 North Ocean Boulevard (Getty, Google Maps)
    Hedge fund billionaire David Tepper paid $68M for Palm Beach mansion
    Hedge fund billionaire David Tepper paid $68M for Palm Beach mansion
    The property has 5 bedrooms in the main house and 2 in the guesthouse. (901 North Ocean blvd)
    Palm Beach developer lists spec mansion next door to David Tepper’s for $84M
    Palm Beach developer lists spec mansion next door to David Tepper’s for $84M
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...