William Ford’s family office sells non-waterfront Palm Beach estate for $33M

It last sold two years ago for $10.4M

William E. Ford with 110 Clarendon Avenue (Rockefeller.edu, Realtor.com)
William E. Ford with 110 Clarendon Avenue (Rockefeller.edu, Realtor.com)

A company linked to the family office of William E. Ford sold a non-waterfront mansion in Palm Beach for $33 million, nearly three times the purchase price two years ago.

The deal is another indicator of the huge demand for high-end properties in Palm Beach. 

Property records show North Fifth LLC, an affiliate of Ford’s New York-based North Fifth Services, sold the property at 110 Clarendon Avenue to a trust managed by attorney Louis L. Hamby III.

Ford, a billionaire, is chairman and CEO of the New York-based private equity firm General Atlantic, which has more than $86 billion in assets under management, according to its website.

The true buyer is unknown.

The 11,835-square-foot estate sits on a 0.7-acre lot. The main home was built in 1989. The property, including a guest house, has eight bedrooms, nine full bathrooms, three half-baths, and a pool.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

It was on the market for $35 million with listing agent Sonja Stevens of Sotheby’s International Realty.

The seller, North Fifth, led by CEO Jamie Klein, paid $10.4 million for the property in February 2020. According to the listing, the Mediterranean-style home was extensively renovated and now includes a new two-story guest house, garage, gym and staff quarters.

Single-family home inventory in Palm Beach has hit record lows during the pandemic. At the end of the fourth quarter, active single-family home listings fell 37 percent, year over year, to 37 listings, amounting to nearly six months of supply, according to the Elliman reports. The median price of single-family homes increased 72 percent, year over year, to $8.5 million. Sales fell 68 percent due to limited inventory and high prices. A number of sales are also occurring off-market.

Recent notable Palm Beach sales include Stock Development’s $57 million sale of the oceanfront spec mansion at 916 South Ocean Boulevard to a hidden buyer also managed by Hamby.

In December, a New York private equity chief paid $35.6 million for the non-waterfront mansion at 134 El Vedado Road. 

Read more