Two side-by-side houses have sold simultaneously as an ocean-block compound for a combined $25 million on the near North End of Palm Beach.
With similar contemporary-style architecture, the houses — separated by a swimming pool —- stand on a pair of lots that together measure about a seven-tenths of an acre on the near North End. The properties stretch between Dunbar Road and Atlantic Avenue.
The houses changed hands in off-market sales.
The Palm Beach Daily News is the first media outlet to report the transactions.
The larger of the two houses is at 150 Dunbar Road, which sold for a recorded $15 million and backs up to the smaller residence at 151 Atlantic Ave. The latter house sold for a recorded $10 million. Both deeds are recorded Oct. 20.
Together, the houses offer a combined nine bedrooms and 11,219 square feet of living space, inside and out, property records show.
The houses were designed by the late Palm Beach architect Gene Lawrence and built in the early 2000s for seasonal use by the Racy family of Sao Paolo, Brazil, property records show.
Entrepreneur and wildlife-conservation advocate Thais Racy signed the deeds to sell both homes as an authorized representative of the entities that owned the properties.
On the buyers’ side of the sales were two Delaware-registered limited liability companies. But the same as-yet-unidentified family is behind each of the companies that bought the properties, according to sources familiar with the transaction.
Heavenly Partners LLC bought the house at 150 Dunbar Road, while Happy Isles Dreams LLC purchased the one at 151 Atlantic Ave, the deeds show.
Because of Delaware’s strict corporate privacy laws, no other information about anyone directly linked to the ownership of the buying entities was immediately available in public records.
Although they sold in simultaneous transactions, the properties were not legally joined through a unity of title.
Built in 2001 and designed around an atrium, the residence on Dunbar Road has several living spaces and five bedrooms, including a second-floor apartment. In all, it encompasses 7,692 total square feet, according to property records.
Like the main house, the smaller four-bedroom house — completed in 2000 and used by the Racy family as a guesthouse — has its own entrance. It has 3,527 total square feet.
Douglas Elliman Real Estate agent Ashley McIntosh confirmed she and her Elliman colleague Kendall Corso acted on behalf of the sellers. Agent Elizabeth DeWoody of Compass Florida represented the buyers.
McIntosh declined to discuss specifics of the sale or the parties involved and also declined to comment on behalf of Corso.
DeWoody also declined to comment. But in an Instagram post about the sales, she mentioned two factors involved in private transactions: “Securing off-market deals requires strong local relationships and skillful negotiating,” she wrote.
The two properties had previously been marketed together by the Elliman agents in the multiple listing service in early 2024 with an asking price of $31.85 million. But that listing was no longer active in the MLS when the houses sold.
The Elliman sales description described the properties as “an exceptional opportunity for buyers to either renovate or build new.”
The house on Dunbar Road was sold by a company named 150 Dunbar Road Inc., for which Racy is a director among other family members, all with addresses in Sao Paolo, records show.
The Dunbar property last sold in August 1996 for $1.3 million.
The president of 150 Dunbar Road is Deyse S. Racy and other directors are Tania Racy, Telma Racy and Omar Karam Simao Racy, records show.
Thais Racy, meanwhile, is listed as the registered agent for Orat LLC, the limited liability company that just sold 151 Atlantic Ave. Orat LLC is the successor to the company that bought the property on Atlantic Avenue when it last changed hands for $675,000 at the tail end of 1998. Orat LLC is managed by a company named Taro S.A., records show.
(This story was updated to add new information.)
This is a developing story. Check back for any updates.
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call 561-820-3831 or tweet @PBDN_Hofheinz. Subscribe today to support our journalism.
This article originally appeared on Palm Beach Daily News: Compound with two houses fetches $25 million on near North End of Palm Beach
Reporting by Darrell Hofheinz, Palm Beach Daily News / Palm Beach Daily News
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