Tech investor Harvey Jones dropped $50 million on a waterfront estate in Palm Beach.
The Square Wave Ventures managing partner picked up the longtime island home of the late liquor mogul James V. Tigani, Jr., the Wall Street Journal reported.
Tigani’s longtime partner, Mark Bennett of the Corcoran Group, had the listing for the home at 940 North Lake Way. Todd and Frances Peter of Sotheby’s International Realty represented the buyer.
Jones is with Square Wave Ventures and a board member of that Santa Clara-based tech firm Nvidia. He got his start in tech in the 1980s when he co-founded Daisy Systems, according to his Nvidia bio.
Tigani was the head of N.K.S., his family’s liquor distribution business in Delaware, one of the largest in the state. He was the uncle of Chris Tigani, who wore a wire as an informant in a 2011 FBI investigation into Joe Biden’s fundraising, Politico reported. Jimmy Tigani, Jr. also led the family’s Century Wines & Spirits, another Delaware liquor distributor. He died in November.
He bought the 0.8-acre Palm Beach estate for $7.4 million in 2002, records show. Built in 1974, the 7,500-square-foot house includes five bedrooms, six bathrooms and one half-bathroom, according to property records. The property also includes two kitchens, four bars, a billiards room, pool, and 130-feet of waterfront, according to the listing.
Tigani and Bennett spent about $4 million renovating the property, Bennett told the outlet. Bennett, who lived with Tigani in the Palm Beach home, bought a condo in Jupiter’s Admirals Cove gated community for $2.7 million in March, records show.
Bennett first listed the estate for $55 million in April, according to Realtor.com.
Palm Beach has seen a string of trophy sales in the last year, with a number of estates trading for more than $50 million. Luxury car dealer Michael Cantanucci paid a record $170 million for an oceanfront compound in April.
Bob and Christine Stiller, the sellers of that estate, turned around and bought a $66 million mansion from casino mogul Steve Wynn in May. More recently, developer Mosie Miller sold an oceanfront estate for $68.1 million at the beginning of the month.
— Kate Hinsche