Billionaire Red Ventures co-founder and CEO Ric Elias sold his oceanfront Palm Beach mansion for $73 million in an off-market deal.
530 South Ocean Boulevard LLC, the Florida entity managed by Elias’ wife Brenda Elias, sold the house at 530 South Ocean Boulevard to an unknown buyer, a press release shows.
Jack Rooney with Douglas Elliman represented both the buyer and the seller. He declined to comment on their identities.
Rooney is a scion of the billionaire Rooney family that owns the Pittsburgh Steelers.
Ric Elias’ Red Ventures owns a number of digital media companies, including the Points Guy, Healthline, Lonely Planet and CNET. Forbes estimates his net worth at $1 billion.
He and his wife bought the 0.7-acre oceanfront mansion for $37.5 million in 2020, the New York Post reported. The deal was done as an LLC transfer and not recorded in public records. The nearly 12,900-square-foot mansion was built in 2018. It includes eight bedrooms, 11 bathrooms, four half-bathrooms and a pool. It sold fully furnished, including art, Rooney confirmed.
Smith & Moore Architects and Marc-Michaels Interior Design were the design team.
Rooney said the “Trump Bump” triggered by Donald Trump’s presidential victory in November has boosted interest in ultra-luxury homes in Palm Beach. Turnkey, fully furnished homes are also in high demand, he said.
“Also, a lot of people are scared of Arcom,” he said of Palm Beach’s Architectural Review Commission. “There’s a premium applied to being able to move right in.”
The sale marks the latest trophy deal in Palm Beach, and one of the most expensive homes sold on the island so far this year. Also this month, a scion of Palm Beach’s Maddock family sold an oceanfront teardown for $31 million.