He did it again: Casino magnate Steve Wynn drops $24M on lakefront Palm Beach home

It follows Wynn’s $49M purchase nearby in March

Miami /
Apr.April 07, 2021 02:30 PM
Steve Wynn and 1040 North Lake Way (Getty, Google Maps)

Steve Wynn and 1040 North Lake Way (Getty, Google Maps)

Steve Wynn paid $24 million for a lakefront home in Palm Beach, marking yet another real estate move for the disgraced former casino tycoon.

Records show Wynn’s Wynn Fine Art purchased the five-bedroom, 5,057-square-foot house at 1040 North Lake Way from Edward Garden and Brooke Garden. Edward Garden is a co-founder of Trian Partners, and his wife Brooke is a daughter of billionaire investor Nelson Peltz. Peltz is also a founding partner of Trian, a multibillion-dollar asset management firm based in New York.

The Palm Beach property was on the market with Lawrence Moens of Lawrence A. Moens Associates for nearly $25 million, according to Realtor.com.

The Gardens paid $6.9 million for the home in 2011. It was built in 1954, records show. The nearly half-acre property includes a pool and dock.

Wynn, founder and former chairman and CEO of Wynn Resorts, has been buying and selling in Palm Beach for years. Last month, his LLC paid $49 million for the lakefront mansion at 1350 North Lake Way.

Also in March, Wynn flipped a waterfront property at 235 Via Vizcaya for $23.7 million, two months after buying it for $18.4 million.

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.





    Related Articles

    arrow_forward_ios
    Gina Rinehart with 107 Dolphin Road and 6 Via Los Incas in Palm Beach
    Australian billionaire family linked to Palm Beach home purchases totaling $100M-plus
    Australian billionaire family linked to Palm Beach home purchases totaling $100M-plus
    Tommy and Dee Hilfiger with 930 South Ocean Blvd in Palm Beach (Google Maps, Getty)
    Super broker Lawrence Moens sells Palm Beach estate to Tommy Hilfiger for $37M
    Super broker Lawrence Moens sells Palm Beach estate to Tommy Hilfiger for $37M
    Former NFL owner Dwight Schar, 550 S Ocean Blvd, Palm Beach
    Billionaire former NFL owner Dwight Schar sells Palm Beach estate for $45M
    Billionaire former NFL owner Dwight Schar sells Palm Beach estate for $45M
    6 Via Los Incas, 241 Jungle Road and 150 El Vedado Road with Designer Tom Ford, Josh Harris and Rob Heyvaert
    Flipper’s paradise: Ultra-rich score on Palm Beach sales
    Flipper’s paradise: Ultra-rich score on Palm Beach sales
    From left: Randall Realty Group’s Jordan, Jim, and Benjamin Randall along with 2875 South Ocean Boulevard in Palm Beach (Getty, LoopNet, Randall Realty Group)
    Randall Realty pays $15M for Palm Beach office-retail building
    Randall Realty pays $15M for Palm Beach office-retail building
    Sanders Capital's Lewis Sanders with 466 South Ocean Boulevard (Sanders Capital, Google Maps, Getty)
    Financier flips Palm Beach townhome to hedge funder for $27M
    Financier flips Palm Beach townhome to hedge funder for $27M
    1400 S Ocean Boulevard and P4 Healthcare's Raj Mantena (Luxury Resort Portfolio, ASCO.org)
    Health care CEO buys oceanfront Manalapan estate for $48M
    Health care CEO buys oceanfront Manalapan estate for $48M
    Irwin B Ackerman with 107 Dolphin Road (Getty, Ackerman & Ackerman)
    Real estate investor sells Palm Beach house for $35M
    Real estate investor sells Palm Beach house for $35M
    arrow_forward_ios

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

    Loading...