Billionaire bows out: David “Duke” Reyes, wife, sell Palm Beach home for $21M

5K sf house last sold for $11.5M in 2018, two years after it was completed

Miami /
May.May 10, 2022 05:30 PM
151 Chilean Avenue in Palm Beach (Realtor.com, iStock)

151 Chilean Avenue in Palm Beach (Realtor.com, iStock)

Billionaire David “Duke” K. Reyes and his wife, Pamela A. Perri Reyes, sold their Palm Beach home for $21 million.

Property records show the Reyes sold the house at 151 Chilean Avenue to a trust of the same name, led by Brad McPherson, an attorney with Gunster. The true buyer is unknown.

Records show the buyer scored a $12.2 million mortgage from New York City-based JPMorgan Chase Bank.

Reyes is CEO of Rosemont, Illinois-based Reyes Holdings, an international food and beverage distribution company which generated more than $30 billion in revenue last year and has 30,000 employees, according to Forbes. Records show the Reyes’ held a homestead exemption on their property, suggesting they lived there.

Forbes ranks Reyes as the 2,186th wealthiest person in the world with an estimated net worth of $1.2 billion.

The 5,119-square-foot home comes with four bedrooms, four bathrooms and sits on almost a quarter-acre lot. It was built in 2016, according to Realtor.com. The Reyes bought the house in 2018 for $11.5 million from Canadian banker and real estate investor Adrian Tauro and interior designer Sloan Mauran, according to records and published reports.

Lisa and John Cregan with Sotheby’s International Realty represented the sellers in the latest sale. John Cregan confirmed their roles, but declined to discuss further. Jonathan Duerr of Compass Florida represented the buyer. Duerr confirmed that he was the buyer’s agent and said the deal was off-market.

David Reyes isn’t the only billionaire to sell property in Palm Beach in recent months. In April, billionaire Steve Wynn flipped a waterfront home for $32 million within a year of buying the property for $24 million

Among other recent sales in Palm Beach, the Frisbies sold a spec townhouse on the former site of Charley’s Crab restaurant last month for $27.8 million.

Also in April, a spec mansion on the non-waterfront side of Billionaires’ Row in Palm Beach traded for $48.5 million.

Other members of the Reyes family purchased waterfront property elsewhere in the country this year.

In January, Joseph Christopher Reyes and his wife, Anne, were revealed as the buyers of the Driehaus mansion in Lake Geneva, Wisconsin. They paid $36 million for the property, shattering the previous state record of $12.8 million for a home sale.





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