A Colonial Revival mansion in Palm Beach, at 1102 North Ocean Boulevard, sold to a trust for $20 million.
The price for the 1.4 acre property, which includes a private beach house on North County Road, equals about $328 per square foot. The buyer was listed as 1102 North Ocean Revocable Trust, according to the Palm Beach Daily News. Boca Raton Attorney Stuart Kapp serves as a trustee under Kapp Morrison LLP. The buyer of the home, also known as La Tonteria, is unknown.
The house sold for almost $6 million less than when it had the price of $25.9 million last summer, the Palm Beach Daily News reported.
The mansion was listed for $32 million, and reduced to $26.5 million from 2013 to summer 2016. The home, which features six bedrooms and 17,300 square feet of living space, sold for $7 million in 2004.
The house was built in 1935 by noted architect John L Volk. Sellers James W. Harpel and Judy Howard Harpel spent three and a half years expanding the property with the help of architect Jeffrey Smith, the Palm Beach Daily News reported.
The home won the Robert I. Ballinger award for historically sensitive renovations from the Preservation Foundation of Palm Beach in 2010. —[Palm Beach Daily News] Grace Guarnieri
