Trending
Real estate financier drops $6M on Palm Beach home
Property was on the market for three months
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.