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.





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