Hotelier Beatrice Tollman sells Palm Beach estate for $57M
Tollman bought the property for $2.7M in 1987
The founder and president of Red Carnation Hotel Collection sold her waterfront Palm Beach estate for $57 million.
Records show Beatrice Tollman sold the mansion at 174 Via Del Lago to 174 VDL Investment LLC. The Florida corporation is managed by Siren Property Development and Investment, which in turn is managed by attorney Maura Ziska. The buyer secured two separate loans from First Republic Bank to finance the purchase, totaling $37.1 million, records show.
Tollman and her husband, Stanley, started their boutique hotel business in South Africa in 1954. In 1975, they moved to London, and in 1984 started the Red Carnation Hotel Collection, according to Hotel Report. Today, their family owns the Travel Corp., which owns 40 travel brands including tour operators, hotels, and transportation companies. Its U.S. headquarters is in Cypress, California, and their son Brett Tollman is CEO.
Property records show Tollman purchased the 15,241-square-foot Palm Beach mansion in 1987 for $2.7 million.
The house, which sits on a nearly 3-acre waterfront lot, is landmarked and was built by Marion Sims Wyeth in 1934, according to the listing.
The house has nine bedrooms, 10 full bathrooms and six half-bathrooms. The property has direct Intracoastal access with a dock, and also features a tennis court, koi ponds, a pool and a six-car garage.
The home was first listed in 2015 for $35 million. It was listed again in December for $64.9 million. Records show the interior was renovated in 2019.
Christian Angle of Christian Angle Real Estate represented Tollman, and Suzanne Trapani-Frisbie with Premier Estate Properties represented the buyer.
This sale is just one of many pricey deals in Palm Beach this month. Among them, Steve Wynn flipped a waterfront property for $23.7 million, Todd Michael Glaser flipped a landmarked Palm Beach estate for $27.5 million, and a private equity investor sold an oceanfront mansion for $45.6 million.