A Brazilian family sold their longtime Palm Beach compound for $25 million in an off-market deal.
Orat LLC and 150 Dunbar Road Inc, two Florida entities tied to Thais and Deyse Racy, sold the adjacent homes at 151 Atlantic Avenue and 150 Dunbar Road to Heavenly Partners and Happy Isles Dreams, both Delaware firms owned by the buyer, for a combined $25 million, the Palm Beach Daily News reported.
Ashley McIntosh and Kendall Corso with Douglas Elliman represented the sellers, and Elizabeth DeWoody with Compass brought the buyer.
The Racys are from Sao Paolo, Brazil, and hired local architect Gene Lawrence to design the homes for seasonal use in the early 2000.
The Atlantic Avenue house was built in 2001 and spans 3,100 square feet, three bedrooms and three bathrooms, records show. The Racys bought the property for $675,000 in 1998, according to property records. The 5,700-square-foot Dunbar Road home was built in 2002 and has five bedrooms, five bathrooms, two half-bathrooms and a pool. Combined, the properties total 0.7 acres.
The Dunbar Road home was listed for $31.9 million last year, and the asking price was slashed twice before delisting in May, according to Zillow.
It marks the latest pricey deal in Palm Beach, as the island ramps up for its busy season. Earlier this month, private equity billionaire Greg Mondre dropped $58 million on a 1.2-acre oceanfront lot, after buying a non-waterfront home for $31 million in March. Also this month, billionaire SC Johnson heiress Winifred Johnson-Marquart bought a landmarked home for $30 million. In September, Dutch hedge funder Pieter Tasselar sold his mansion on the island for $29.5 million in an off-market deal.
–– Kate Hinsche
