Taubman family sells Palm Beach estate to paper mogul for $47M

Taubman family sells Palm Beach estate to paper mogul for $47M

Peter Brant, Robert S. Taubman, and 1820 South Ocean Boulevard (Credit: Sylvain Gaboury/Patrick McMullan, John Sciulli, via Getty Images, and Google Maps)

Peter Brant, Robert S. Taubman, and 1820 South Ocean Boulevard (Credit: Sylvain Gaboury/Patrick McMullan, John Sciulli, via Getty Images, and Google Maps)

Taubman Centers Chairman and CEO Robert S. Taubman sold an oceanfront Palm Beach estate for nearly $47 million to a paper mogul.

Taubman’s AAT BB LLC sold the 10-bedroom, 19,068-square-foot mansion at 1820 South Ocean Boulevard to White Birch Farm Inc. The buyer is tied to Peter Brant, chairman and CEO of White Birch Paper, a top newsprint manufacturer with pulp and paper mills in Canada and the U.S. Brant, who founded the Greenwich Polo Club, is also a developer and philanthropist.

The Ocean Boulevard estate was listed earlier this year for $52 million with Lawrence Moens of Lawrence A. Moens Associates. It sold for $46.75 million, or about $2,452 per square foot.

The Addison Mizner-designed property stretches from the Intracoastal Waterway to the ocean with an underground tunnel to the beach, like many homes on that stretch of Palm Beach. The 3.28-acre property includes two pools, a tennis court, and dock. Interior renovations were recently completed, according to the listing.

Built in 1926, Alfred Taubman purchased the estate in 1989 for $5.5 million, records show.

Simon Property Group announced prior to the pandemic that it was planning to acquire Taubman Centers for $3.6 billion. The deal is expected to close later this year.

A few big-ticket sales have closed in Palm Beach during coronavirus.

Luxury homebuilder Mark Pulte sold the Palm Beach estate at 446 North Lake Way for $33.2 million, and a company tied to the Estée Lauder family acquired the mansion at 1063 North Ocean Boulevard for $25.4 million.

The post Taubman family sells Palm Beach estate to paper mogul for $47M appeared first on The Real Deal Miami.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *