Clark Beaty sells oceanfront Palm Beach spec mansion for $64M

Developer Clark Beaty sold his oceanfront Palm Beach spec mansion for $64 million, six months after listing the property for $84 million.

Beaty’s PBB Island Property LLC sold the five-bedroom, 15,000-square-foot estate at 901 North Ocean Boulevard, according to Realtor.com and property records. The buyer is Beechgreen LLC, a Delaware entity, the Palm Beach Daily News reported.

Beaty had previously listed the land with plans for $55 million. After re-listing the property in February for $84 million, the price was lowered to $74.8 million that same month.

The mansion features a pool, wine cellar, gym, media room and guest house. It was completed this year. Records show the Beaty-led LLC paid $14.6 million for the 1.1-acre lot in 2017.

Chris Deitz with William Raveis Real Estate and attorney Adam Seligman of Ward Damon represented the seller, while Lawrence Moens of Lawrence A. Moens Associates represented the buyer. Deitz and Moens could be reached for comment. Seligman declined to comment.

The buyer’s identity is not public, but in March, Beechgreen LLC sold the waterfront property at 10 West San Marino Drive in Miami Beach for $23.5 million. Jeffrey S. Feinman signed the deed on behalf of Beechgreen.

Ultra high-end sales have continued to proliferate in Palm Beach since the pandemic started, though inventory has fallen dramatically. New records have been set in the same period of time.

In February, private equity titan Scott Shleifer paid $122.7 million for the oceanfront mansion at 535 North County Road in Palm Beach, setting a record for residential sales in Florida and marking one of the most expensive home sales in the U.S.

Billionaire David Tepper, founder of Appaloosa Management and owner of the Carolina Panthers, paid $68 million for the mansion next door to the Beaty property, also in February.