Aviation exec sells Palm Beach home for $15M

3,600 sf house includes deeded access to beach cabana

Aviation Honcho Sells Palm Beach Home for $15M
Jeteffect's Michael W. McDonald Jr. and 156 Seagate Road in Palm Beach (Google Maps, Jeteffect)

An aviation sales executive is flying high after selling his Palm Beach home for $15.3 million. 

Records show Michael McDonald, Jr. and his wife, Megan McDonald, sold the house at 156 Seagate Road to Seagate Retreat LLC, a Florida entity managed by local attorney Alison Percy. The true buyer is unknown.

Christian Angle of Christian Angle Real Estate had the listing, and Margit Brandt of Premier Estate Properties brought the buyer.

McDonald is a sales director at Jeteffect, a private plane sales brokerage with an office in Palm Beach. Records show he and his wife bought the Seagate Road property for $4.1 million in 2020. The sellers at the time were Mark and Lisa Saur, the fourth-generation of the family that owned Grand Rapids, Michigan-based juice giant Old Orchard. They sold the company for $146 million in 2018, according to published reports. 

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Built in 2017 on a quarter-acre, the 3,600-square-foot house includes four bedrooms, four bathrooms and one half-bathroom. The home also has a pool and spa, and comes with deeded access to a beach cabana, a unique feature of Palm Beach’s North End neighborhood. 

The couple listed the home for $17 million in September, Realtor.com shows. The closing price equates to a nearly quadruple boost in value in three years.

The busy season for real estate shopping in Palm Beach is just picking up, but deals are already closing. Agents say they anticipate a strong season, despite the slowdown in the aftermath of a pandemic-fueled market boom.

Earlier this month, golf great Greg Norman’s ex-wife Laura Andrassy sold her island house to Gotham Organization President David Picket for $24.3 million.

Last month, Benjamin and Andrea Griswold bought a home from Brown Harris Stevens agent Mara Raphael for $8.8 million. Also, Ross Meltzer, the son of late Long Island developer Irving Meltzer, sold his house in an off-market deal for $9.2 million

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