Racing team owner sells waterfront Jupiter mansion for $24M
Buyers immediately relisted home for $30M
A former professional race car driver who now co-owns a team sold a waterfront mansion in Jupiter’s Admirals Cove for $24 million, months after originally listing it for $32.5 million.
Johnny Gray and his wife, Terry, sold their home at 176 Spyglass Lane to George McMahon and Sarah Ann McMahon, records show.
Johnny Gray raced NHRA Funny Car and Pro Stock. According to ARCARacing.com, Gray partnered with NASCAR driver David Gilliland in January to form David Gilliland Racing, a team based in Mooresville, North Carolina.
The buyers are the founders of Palm Beach Gardens-based investment firm American Infrastructure Partners. Prior to founding American Infrastructure Partners, George McMahon founded and was CEO of Bryan, Texas-based Utility Fleet Sales.
The McMahons already relisted the Jupiter property for $30 million, according to Realtor.com. Rob Thomson of Waterfront Properties and Club Communities has the listing.
Property records show the Grays purchased the 1.5-acre property in 2013 for $7.3 million. They demolished the previous home on the property and built the current 17,885-square-foot mansion, finishing it in 2016.
The home was first listed for $32.5 million in January. The most recent asking price was $29.5 million in February.
Jupiter has become a new base for members of the Trump family. In May, Eric and Lara Trump bought a house in Admirals Cove for $3.2 million. His brother, Don Jr., bought a waterfront home there in March for $9.7 million.
In April, the majority owner of a Minor League Baseball team sold a waterfront mansion in Admirals Cove for $9.7 million.