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Private equity investor E. Burke Ross Jr. sells oceanfront Palm Beach mansion for $46M
It hit the market in June for $50M
Private equity investor E. Burke Ross Jr. sold his oceanfront Palm Beach mansion for $45.6 million, marking another major sale in the tony town.
The property at 172 South Ocean Boulevard hit the market last summer for just under $50 million. Gary Pohrer of Douglas Elliman represented the seller. He declined to comment. Christian Angle of Christian Angle Real Estate represented the buyer.
Property records show Ross Jr., Amory L. Ross and Linda D’Addario sold the 13,153-square-foot mansion, called La Salona, to Bayhigh LLC, a Delaware entity.
Ross Jr. is president of Palm Beach-based ADEC Private Equity. Amory L. Ross is his brother.
The estate has 16 bedrooms, 17 bathrooms and five half-bathrooms on nearly an acre of land. It has an additional 6,167 square feet that include patios, balconies and a summer kitchen.
The property was developed in 1926 by Palm Beach architect Marion Sims Wyeth and was most recently renovated in 2016, according to the listing.
It last sold for $4.8 million in 2000, property records show.
Both waterfront and non-waterfront home sales have soared in recent months in Palm Beach.
Billionaire former casino mogul Steve Wynn paid $49 million this month for a lakefront estate. The same sellers, developers Patrick and Lillian Carney, sold an oceanfront mansion in February to hedge fund billionaire and Carolina Panthers owner David Tepper for about $68 million.
Canadian financier Steven Hudson recently purchased a non-waterfront mansion for $16.3 million, and fashion designer Tommy Hilfiger and his wife, Dee Ocleppo Hilfiger, paid $9 million for a home.