German entrepreneur sells oceanfront Palm Beach estate for $110M
Property hit the market in March for $115M
German entrepreneur and philanthropist Dr. Ernst Langner sold his ocean-to-lake estate in Palm Beach for nearly $110 million, marking the second most-expensive residential sale to close on the island.
A trust managed by Langner sold the 15,954-square-foot mansion at 1840 South Ocean Boulevard for $109.6 million, property records show. The buyer was a trust named for the home’s address, and which is managed by attorney Ronald Kochman.
Langner is chairman of the advisory board at The Dr. E.A. Langner-Foundation, and his wife, Nataly, is chair of the board of directors.
The 2.7-acre property last sold in 2012 for $23.5 million. Langner demolished the previous home and completed the new estate in 2014.
The property was listed for sale in March for $115 million. Sandwiched between Lake Worth Lagoon and the Atlantic Ocean, the waterfront home has nine bedrooms, ten full bathrooms and three half-bathrooms, according to the listing.
Lawrence Moens of Lawrence A. Moens Associates represented the buyer and seller. Moens recently represented the seller of a $95 million estate in Palm Beach last month.
This deal is second to the $122.7 million closing of an oceanfront mansion earlier this year. Private equity titan Scott Shleifer purchased the spec home at 535 North County Road.
High-end home sales have continued in Palm Beach despite a limited inventory of on-market properties.
This month, closed sales include the nearly $33 million sale of a waterfront home at 482 Island Drive and the hedge fund manager Igor Tulchinsky’s nearly $40 million purchase of the oceanfront estate at 12088 Banyan Road in North Palm Beach.