Real estate investor sells Palm Beach house for $35M

Built in 1957, the home faces the Atlantic Ocean

Irwin B Ackerman with 107 Dolphin Road
Irwin B Ackerman with 107 Dolphin Road (Google Maps, Ackerman & Ackerman)

Real estate investor Irwin Ackerman and his wife, Mary, sold their Palm Beach house for $34.9 million in an off-market deal.

Records show the Ackermans sold the home at 107 Dolphin Road to 47th LLC, a Delaware entity. The true buyer is unknown. A similarly named LLC bought an oceanfront estate for $66 million late last month.

Irwin Ackerman is a real estate investor based in Lakeville, Conn. Ackerman and his partners sold a portfolio of six properties in New York, New Jersey and Missouri valued at $325 million to Paramus, N.J.-based Urban Edge Properties in 2017, SEC filings show.

In 2012, the couple bought the Palm Beach house from Baroness Jeane von Oppenheim, an heiress of the Oppenheim banking family, for $6.1 million, records show.

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Built in 1957 on 0.2 acres, the two-story, 3,600-square-foot, three-bedroom, three-bathroom house faces the Atlantic Ocean. It sits at the end of Dolphin Road, which provides the house deeded beach cabana access. The Dolphin Road cabana is directly in front of the house, on the other side of Ocean Boulevard. The property also includes an ocean-facing pool.

Cabana streets in Palm Beach’s north end have proven particularly popular among buyers in recent months. In August, a Chicago real estate executive sold a non-waterfront Dolphin Road house for $14.4 million. That same month, a top commodities trader at Goldman Sachs bought a spec house on Nightingale Trail, another cabana street, for $16 million.

Winter is the busy season for Palm Beach luxury real estate. While the market has cooled across South Florida, deals on the island have continued to show significant price growth.

Last month, Tom Ford set a price record for non-waterfront properties in Palm Beach when he bought a $51 million compound from private equity chief Rob Heyvaert, who bought it for $35.8 million the year prior.

Alden Global Capital co-founder Randy Smith sold a Palm Beach house for $23 million earlier this month, two years after buying it for $7.9 million.