Billionaire Jeff Greene sold the former Palm Beach Post Office to the Breakers for $28 million.
Records show the developer sold the building at 95 North County Road, adjacent to the Breakers golf course, to the Breakers Palm Beach. The Breakers resort spans 140 acres at 1 South County Road, and includes a 534-key hotel, two 18-hole golf courses and a private beach.
The resort has expanded its holdings on the island in recent years. Last year it bought a retail property at 245 Royal Poinciana Way for $9.3 million. In 2019, it paid $20 million for the retail and restaurant portions of the Frisbie Group’s Via Flagler by the Breakers, a mixed-use project at 221 Royal Poinciana Way and 231 Royal Poinciana Way.
The Breakers was developed in 1903 by Standard Oil magnate Henry Flagler. Today the resort belongs to the Kenan family and is led by CEO Paul Leone. The Kenans are heirs of Mary Lily Kenan Flagler Bingham, Flagler’s third and final wife. The couple are the namesake for the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.
Greene bought the 14,000-square-foot post office for $3.7 million in 2011, according to property records.
Greene is a developer with millions of square feet in the pipeline in West Palm Beach. He has a net worth of $7.9 billion, according to Forbes.
He is planning a massive redevelopment of the Currie district in West Palm Beach, where he has bought at least 25 acres since 2012. He plans to build a pair of 30-story condo towers with 152 units at 2175 and 2251 North Flagler Drive in West Palm Beach.
Earlier this year, Greene and general contractor Kast Construction filed lawsuits against each other over delayed construction at One West Palm, a mixed-use development at 550 South Quadrille Boulevard in West Palm Beach.
Greene fired Kast Construction from the project and tapped Bluewater Builders to take over. He anticipates that the project, which includes two 30-story towers with 328 apartments, 201 hotel rooms and 200,000 square feet of office, will be completed by mid-2025.
