Facelift required: Beauty mogul sells Palm Beach lot for $42M

She sold the mansion across the street for $105M about two years ago

Miami /
Mar.March 01, 2021 05:30 PM
1440 South Ocean Boulevard and Sydell Miller (Google Maps, Getty)

1440 South Ocean Boulevard and Sydell Miller (Google Maps, Getty)

What’s the going price for an empty lakefront lot in Palm Beach? Apparently $42 million, according to a recently filed deed.

Beauty mogul Sydell Miller sold the 1.7-acre lot at 1440 South Ocean Boulevard to a trust managed by Ronald Kochman, property records show. The seller was 1440 Holdings LLC, managed by Richard Armbruster.

Miller, with her late husband Arnold, sold their hair and beauty products line Matrix Essentials to Bristol Myers Squibb in 2005.

Miller sold the oceanfront estate across the street from the lakefront lot for $105 million in 2019 to billionaire hedge fund manager Steven Schonfeld and his wife Brooke. At the time, It set a record for the tony town of Palm Beach.

Miller paid nearly $43 million for a full floor at the Bristol in West Palm Beach that same year.

She paid $10 million for the lakefront lot in 1999, records show.

Inventory is down and luxury sales are up in Palm Beach. In February, hedge fund billionaire David Tepper closed on his purchase of an oceanfront mansion at 905 North Ocean Boulevard for $68.4 million.

That same month, private equity titan Scott Shleifer paid more than $120 million for the oceanfront mansion at 535 North County Road in Palm Beach, setting a record for residential sales in Florida and marking one of the most expensive home sales in the U.S.

Last week, developer Carl Panattoni sold a vacant oceanfront lot in Palm Beach for $34.2 million, nearly $6 million more than his purchase price a year ago.






    Related Articles

    arrow_forward_ios
    IRA Capital makes $16M medical office play in Boca Raton
    IRA Capital makes $16M medical office play in Boca Raton
    IRA Capital makes $16M medical office play in Boca Raton
    2714 Sheltingham Drive with Fred and Lora Jean Drasner (Berkshire Hathaway)
    Former New York Daily News co-owner buys Wellington mansion for $5M
    Former New York Daily News co-owner buys Wellington mansion for $5M
    Former Palm Beach councilwoman sells lakefront mansion for $38M
    Former Palm Beach councilwoman sells lakefront mansion for $38M
    Former Palm Beach councilwoman sells lakefront mansion for $38M
    Trian’s Nelson Peltz, Ed Garden and Peter May with the office building (Trian, New England Development)
    Billionaire Nelson Peltz’s Trian Partners buys Palm Beach office building for $23M
    Billionaire Nelson Peltz’s Trian Partners buys Palm Beach office building for $23M
    Todd Glaser and David Skok with 360 El Brillo Way (Facebook via Skok, Premier Estates)
    Venture capitalist David Skok pays $26M for Jeffrey Epstein’s former Palm Beach property
    Venture capitalist David Skok pays $26M for Jeffrey Epstein’s former Palm Beach property
    Investors buy Palm Beach office building for $38M
    Investors buy Palm Beach office building for $38M
    Investors buy Palm Beach office building for $38M
    (Getty)
    South Florida by the numbers: Stars need houses too
    South Florida by the numbers: Stars need houses too
    Hilary Musser and the house (Photos: Daniel Newcomb)
    Hilary Musser sells waterfront West Palm Beach spec mansion for record $16M
    Hilary Musser sells waterfront West Palm Beach spec mansion for record $16M
    arrow_forward_ios

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

    Loading...