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
    Clockwise from top left: 375 South County Road, 225 Worth Avenue, 220 Peruvian Avenue and 219 Worth Avenue (Google Maps) 
    Burton Handelsman sells Palm Beach retail, offices for $58M
    Burton Handelsman sells Palm Beach retail, offices for $58M
    341 Peruvian Avenue, Palm Beach (Google Maps)
    A trust spent $18M on a Palm Beach home
    A trust spent $18M on a Palm Beach home
    Steve Wynn and 1040 North Lake Way (Getty, Google Maps)
    He did it again: Casino magnate Steve Wynn drops $24M on lakefront Palm Beach home
    He did it again: Casino magnate Steve Wynn drops $24M on lakefront Palm Beach home
    Red Carnation Founder Beatrice Tollman. (Compass, Red Carnation)
    Hotelier Beatrice Tollman sells Palm Beach estate for $57M
    Hotelier Beatrice Tollman sells Palm Beach estate for $57M
    Steve Wynn and 235 Via Vizcaya (Photos via Getty, Realtor)
    Steve Wynn flips waterfront home in Palm Beach for $24M
    Steve Wynn flips waterfront home in Palm Beach for $24M
    Todd Glaser (Compass)
    Todd Glaser flips Palm Beach home under construction for $28M
    Todd Glaser flips Palm Beach home under construction for $28M
    172 South Ocean Boulevard
    Private equity investor E. Burke Ross Jr. sells oceanfront Palm Beach mansion for $46M
    Private equity investor E. Burke Ross Jr. sells oceanfront Palm Beach mansion for $46M
    Steven K. Hudson and 134 Casa Bendita, Palm Beach (Google Maps)
    Financier Steven Hudson buys Palm Beach home for $16M
    Financier Steven Hudson buys Palm Beach home for $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...