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Steve Wynn flips waterfront home in Palm Beach for $24M
Wynn’s entity bought the property in early January for $18M
Former casino tycoon Steve Wynn flipped a waterfront property in Palm Beach for $23.7 million, two months after buying it.
Records show 235VV Holdings LLC sold the home at 235 Via Vizcaya to Kristin L. Woeste as trustee of the HSH-PB Trust.
The selling entity is managed by attorney Michael Kosnitzky of Pillsbury Winthrop Shaw Pittman. According to the Palm Beach Daily News, Wynn controls the entity. The same Florida corporation bought the home in January for $18.4 million.
The address for the buying trust links to Wingate Companies, a Newton, Massachusetts-based real estate investment and management company. Woeste is a partner at Vorys, Sater, Seymour and Pease LLP in Cincinnati, according to her Linkedin page.
Property records show the 7,273-square-foot house has six bedrooms and five-and-a-half bathrooms. Built in 2020, the home also features a wine cellar, elevator and 155 feet of water frontage with a dock, according to the listing.
Earlier this month, Wynn purchased a lakefront estate in Palm Beach for $49 million.
Wynn, founder and former chairman and CEO of Wynn Resorts, is a frequent investor in Palm Beach. In 2019, he paid $43 million for the oceanfront mansion at 1960 South Ocean Boulevard. A year earlier, he sold the lot at 1350 South Ocean Boulevard for more than $20 million.
Among other pricey sales in Palm Beach this month, private equity investor E. Burke Ross Jr. sold a mansion for $45.6 million, and spec home developer Todd Michael Glaser flipped a landmarked Palm Beach estate he was restoring for $27.5 million, including commissions.