A waterfront estate in Palm Beach sold for $40.7 million — almost $20 million below the original asking price.
Records show a Swiss entity, Sunshine Estate Partners, sold the mansion at 1330 South Ocean Boulevard to 1330 South Ocean LLC, a Delaware corporation.
According to The Palm Beach Daily News, European businessman Gerald Herz and his wife, Isabelle, are the sellers. West Palm Beach attorney Paul Krasker signed the deed in favor of the sellers.
The Swiss entity bought the mansion in April 2017 for $31.6 million from luxury home developer Mark Pulte, who finished the home in 2016, according to property records.
Linda A. Gary of Linda A. Gary Real Estate represented the sellers in the most recent deal, while Lawrence Moens of Lawrence A. Moens Associates represented the buyer. Moens also represented Pulte in the 2017 sale.
According to Realtor.com, the property was first listed in July for $59.5 million and later changed to $56.5 million at the end of October.
The five-bedroom mansion has nine-and-a-half-bathrooms and 12,830-square-feet under air, with more than 3,000 square feet of terraces and covered outdoor space. The furnished home also has 184 feet of Lake Worth Lagoon water frontage, a dock and a pool.
Recently, spec home developer Todd Michael Glaser bought a home in Palm Beach for $13 million, with plans to renovate.