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
    71 Curlew Road and James and Kimberly Caccavo (LinkedIn, Steelpoint Capital Partners, Google Maps)
    PE boss James Caccavo drops $11M on waterfront Manalapan spec home
    PE boss James Caccavo drops $11M on waterfront Manalapan spec home
    Sean Hannity with 9 Sloans Curve Drive (Getty, Google Maps)
    Palm Beach green-lights addition for Sean Hannity’s oceanfront townhouse
    Palm Beach green-lights addition for Sean Hannity’s oceanfront townhouse
    211 Dunbar Road (Google Maps)
    Good ROI? Wealth manager sells non-waterfront Palm Beach estate for $21M
    Good ROI? Wealth manager sells non-waterfront Palm Beach estate for $21M
    Estée Lauder and 144 Everglade Avenue (Getty, Google Maps)
    Estée Lauder’s former Palm Beach estate gets designated historic
    Estée Lauder’s former Palm Beach estate gets designated historic
    Mount Vernon Company's Bruce Percelay and 210 Palmo Way, Palm Beach (Google Maps, Linkedin, Getty)
    Boston real estate chief sells non-waterfront Palm Beach lot for $10M
    Boston real estate chief sells non-waterfront Palm Beach lot for $10M
    124 Brazilian Avenue (Google Maps)
    VC head Robert Burch sells Palm Beach estate for $24M
    VC head Robert Burch sells Palm Beach estate for $24M
    Todd Glaser and Tarpon Island in Palm Beach (Google Maps, Getty)
    Todd Glaser and partners list Palm Beach’s Tarpon Island for $218M
    Todd Glaser and partners list Palm Beach’s Tarpon Island for $218M
    (Getty)
    Palm Beach County voters approve $200M affordable housing bond
    Palm Beach County voters approve $200M affordable housing bond
    arrow_forward_ios

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

    Loading...