Sale of Jimmy Buffett's Former Palm Beach Mansion Sets Record

The sale of three adjacent properties for $42.9 million is Palm Beach's biggest-dollar deal since Howard Stern bought his estate for $52 million. It's also the most expensive simultaneous sale of adjacent properties in the estate section of the island.

Jimmy Buffett photo by: Tim Mosenfelder/Getty Images Entertainment/Getty Images
Palm Beach photo by: Kara Franker

Billionaire Jon Stryker sold his 2.6-acre oceanfront estate in Palm Beach, which includes three adjacent properties, for $42.9 million to Peter Wood, owner of a luxury home-building company. 

The property includes Jimmy Buffett's former home located at 540 S. Ocean Blvd. After owning the estate for about 10 years, Buffett sold the property to Stryker in 2010. Then Stryker listed Buffett's former house, as well as his own property and a half-acre oceanfront vacant lot at 530 S. Ocean Blvd. 

According to the Palm Beach Daily News, the new owner of the property plans to tear down Buffett's former home and build a new house on the site. He also plans to develop a second oceanfront house on the vacant lot to be sold on speculation.

Buffett still owns plenty of property in Palm Beach. In 2002, the "Margaritaville" mogul purchased a home for $802,000 in the neighborhood located just north of one of Florida's most luxurious resorts, The Breakers Palm Beach. Then in 2013, he bought the house across the street for $1.3 million. 

Located a little farther down the road is his priciest pad -- an island contemporary-style home that the king of the "parrot heads" bought for almost $5 million in 2011. The value of the three houses he currently owns totals just over $7 million, which is nowhere close to the money he made on the home he sold on S. Ocean Blvd., in 2010. He pocketed $18.5 million after the sale of the 11,500-square-foot mansion. 





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