A married pair of lawyers sold their waterfront West Palm Beach home for $16 million, nearly double their purchase price last year.
Records show Kimberly Sorrentino and Lawrence Rolnick sold the house at 3240 North Flagler Drive to RRG QOZB LLC, a Delaware corporation. The true buyer is unknown.
Elizabeth DeWoody of Compass represented the sellers, and William Sarnie of Simon Isaacs Real Estate brought the buyer.
Sorrentino and Rolnick are both lawyers from New Jersey. In 2015, the couple was awarded $1 million in a lawsuit against the town of Westfield, N.J., regarding the controversial arrests of Rolnick, the couple’s son Austin Rolnick, and a friend on New Year’s Eve in 2009, NJ.com reported. The suit vacated all charges.
The family has since moved to South Florida, and invested in multifamily real estate in Palm Beach County.
The couple bought the 7,692-square-foot, five-bedroom, six-bathroom house in June of last year for $8.2 million, records show. The property spans 0.4 acres across from Palm Beach Country Club. Built in 2007, the home includes deep water dockage, a pool, an elevator, and guest quarters with a kitchen, according to the listing.
DeWoody said the price increase was a product of market conditions.
“My client bought right and sold right,” she said.
Sorrentino and Rolnick also own the house at 160 Woodbridge Road in Palm Beach, which they bought from Donald Trump’s nephew, David Desmond and his wife Lisa, for $8.9 million in 2015. Records show the 6,348-square-foot home sits on 0.7 acres across the street from Trump’s Mar-a-Lago Club. The estate includes a five-bedroom main house and a two-bedroom guest house.
A year ago, a $16 million sale would have been record-breaking for West Palm Beach. Long the less pricey neighbor of Palm Beach, where waterfront properties regularly sell for north of $30 million, pandemic migration and corporate relocations to “Wall Street South” have spurred a price jump for waterfront properties in the area.
A waterfront West Palm Beach spec mansion sold for $15.9 million in September of last year, marking a record at the time.
Shortly after that, shoe mogul Marc Fisher bought a waterfront West Palm Beach mansion for $10.5 million. In July, Related Group bought a waterfront West Palm Beach estate from a Standard Oil heiress’ widower for $16 million.