Billionaire James Clark Relists Florida Home at a Discount

Billionaire James Clark Relists Florida Home for $95M, a $42M Discount

The co-founder of Netscape was asking $137 million for the Palm Beach estate in 2016

 

 

James H. Clark, a billionaire who founded and invested in many well-known technology companies, including Netscape and WebMD, put his oceanfront estate in Palm Beach, Florida, back on the market for $95 million Tuesday.

However, the eye-popping price was $42 million lower than the original listing price when it first hit the market for $137 million in August 2016. It was not clear when the last listing was taken off the market.

Mr. Clark, 73, who has an estimated net worth of $2.1 billion according to Forbes, bought the property for $11 million in 1999, property records show. He then spent four years and millions of dollars to renovate the then-deteriorating estate, The Wall Street Journal reported.

The 5.48-acre estate has a landmarked 1930s Italian Renaissance mansion as its main residence, oceanfront guest houses, a tropical lake with a boathouse and an infinity swimming pool.

In total, the property has 44,187 square feet of living space, including 10 bedrooms, 14 bathrooms, a gym, a library and a wine cellar.

Requests for comment sent to Mr. Clark’s new venture, CommandScape, and to his foundation weren’t immediately returned.

He and his wife, Kristy Hinze, a former Victoria’s Secret and Sports Illustrated model, own a 300-foot sailing yacht named Athena and the 100-foot racing sailboat named Comanche, according to Forbes.

Palm Beach had South Florida’s highest priced luxury property during the third quarter of 2017, according to a Douglas Elliman report released in October. Luxury homes in the oceanfront enclave—defined by Douglas Elliman as the top 10% of sales—had a median sales price of $7.7 million, the highest of the eight South Florida areas analyzed in the report.

Another luxury home on the same street as Mr. Clark’s estate is currently on the market for $105 million.

By | 2018-01-24T02:12:10+00:00 January 24th, 2018|Featured, home page, news|