A Texas businessman dropped $15 million on an oceanfront Highland Beach mansion.
Records show David P. Pfeil bought the house at 4217 South Ocean Boulevard from Robert and Bianca Patek.
Nick Malinosky and Michael O’Connor with Douglas Elliman represented the buyer, and Stephen Gerken with Highland Beach Realty had the listing.
Pfeil owns several businesses based in Plano, Texas, according to public records. His wife, Kelly Sepcic Pfeil, is a food scientist and former vice president of research and development at Pepsi. David Pfeil isn’t new to homebuying in Palm Beach County. Records show he bought two waterfront homes in Boca Raton last year, for a combined $10.5 million.
Robert Patek bought the Highland Beach mansion for $2.8 million in 1998. Built on 0.4 acres in 1993, the nearly 9,100-square-foot house has six bedrooms, six bathrooms and two half-bathrooms, records and the listing show. The mansion also has two kitchens, a gym, a 12-car garage, a pool with a swim-up bar and 11,000 square feet of private beach, the listing shows.
The mansion has been on and off the market since 2019, according to Zillow. The asking price fluctuated over the years, reaching as high as $28 million in 2022, before selling for $15 million.
The deal follows Millennium Management co-chief investment officer Justin Gmelich’s $28.5 million purchase of an oceanfront Highland Beach estate last month. While a pricey deal for the enclave, it fell far short of a record price.
In May of last year, Steve Buchanan, the former owner of Buchanan Energy and Bucky’s Convenience Stores, marked a record when he sold his oceanfront Highland Beach mansion for $50 million. Also last year, the estate of late mattress mogul Harry Acker sold his oceanfront mansion for $21.2 million.