Second North Palm Beach mansion of late coal billionaire sells for $22M

Cline’s estate recently sold a neighboring mansion for $26M

Miami /
Feb.February 10, 2021 10:30 AM
12540 Seminole Beach Road, North Palm Beach (Google Maps)

12540 Seminole Beach Road, North Palm Beach (Google Maps)

The estate of the late coal billionaire Christopher Cline sold another oceanfront North Palm Beach mansion — this time for $22.1 million.

Records show Lesslie Ray and Timothy Elliott, as co-personal representatives of Cline’s estate, sold the property at 12540 Seminole Beach Road to George F. McCabe, trustee of a trust in his name. Included in the sale was the lot adjoining the mansion with tennis courts and other outdoor features.

McCabe is the CIO, managing director and founder of Portolan Capital Management, a Boston-based investment management firm.

Cline was the former owner of St. Louis-headquartered coal energy producer Foresight Energy. According to Forbes, he sold a controlling stake in the company for $1.4 billion in 2015.

In 2019, he died in a helicopter crash off the coast of his private island in the Bahamas.

Just last week, Cline’s estate sold his neighboring estate for $25.6 million.

Cline purchased the most recently sold mansion in 2013 for $16.1 million. According to property records, the home was built in 1968. He purchased the adjoining lot with tennis courts, as Seneca Industries, in 2012 for $1.75 million.

The properties were listed in October 2019 with an asking price of $24.95 million. Lawrence Moens with Lawrence A. Moens Associates brokered the deal.

The 16,139-square-foot mansion has four bedrooms and seven-and-a-half bathrooms. The main property also includes a pool, putting green and direct access to the ocean.

Property records show the adjoining lot is 2.2 acres. In addition to tennis courts, it features basketball and sand volleyball courts and has a one-bedroom, one-and-a-half-bath guest house.

Last year in North Palm Beach, the CEO of an electrical distribution company sold his waterfront home for $7.3 million.





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