Oceanfront Palm Beach spec mansion sells for $41M
Jagbir Singh bought the property for $4M in 2014, completed the house this year
An oceanfront spec mansion in Palm Beach changed hands for the princely sum of $41 million.
Ocean Villa Holdings LLC, managed by Jagbir Singh, sold the house at 1700 South Ocean Boulevard to an LLC with the same name, managed by real estate attorney Robert S. Raynes Jr, records show.
Singh founded and is the president of Sujani Enterprises, a Bernardsville, New Jersey-based company that specializes in marketing semi-finished metal products, according to Bloomberg.
The mansion was listed in December 2020 for $41.9 million. Shelly Newman with William Raveis South Florida represented the seller, and Christina Angle with Christian Angle Real Estate represented the buyer, according to Realtor.com.
Singh paid $4 million for the property in 2014, records show. In 2015, he tore down the former home on the site, which had been owned by Save-A-Pet founder and the National Republican Congressional Committee’s Congressional Medal of Distinction recipient Gertrude Maxwell Hurwitz, who died in 2011 at age 99. Singh applied to construct the new house in 2019, and it was completed this year.
The 10,586-square-foot mansion has six bedrooms, eight full bathrooms, three half-bathrooms, and 115 feet of private beachfront access. It sits on a nearly 0.75-acre lot.
Marc-Michaels design group handled interior design, while Ska Architecture was the architect. Lynn Bender Landscape Architecture was the landscape architect, and Mark Timothy was the general contractor, according to Realtor.com.
The sale underscores the ravenous demand in the luxury home market in Palm Beach. Multiple sales in November, alone, reached into eight figures.
Valerie Winchester, the widow of Walter K. Winchester, sold the mansion at 200 Clarke Avenue to Francine C. Purcell, as Trustee of the Francine C. Purcell Declaration of Trust, for $25 million.
Shirley Fennell, via a trust, sold penthouse 4 and a cabana at 2 North Breakers Row to the Turner 2021 family trust, managed by Deborah A. Turner, for $17.7 million — more than $4,700 per square foot. That sale marked a record on a total and per-square-foot basis for a Palm Beach condo.
Douglas Elliman agent Gary Pohrer went under contract to buy an oceanfront home even before his wife had a chance to look at the property, which he purchased for $5.8 million from Wolf Von Falkenburg.
Amanda and Alexander Coleman, a managing partner at Austin, Texas-based Providence Management LLC, sold 216 Angler Avenue in Palm Beach, to a Delaware LLC that shares the same name as the property for $23.3 million.