William Wrigley Jr., an heir to the Wrigley chewing gum fortune, has sold a waterfront compound in North Palm Beach for $97.5 million. The sale, which was completed off-market, is the highest ever recorded in Lost Tree Village, a private golf community, and may be the most expensive residential transaction in North Palm Beach.
The 2.5-acre property at 11465 and 11472 Old Harbour Road was purchased by an undisclosed buyer, according to the Wall Street Journal. Gary Pohrer of Serhant represented Wrigley in the deal, while Donna Hutchins of Douglas Elliman represented the buyer. The closing took place on Friday.
The estate consists of two mansions built in 2013 and 2014 and includes multiple docks. Public records indicate that Wrigley acquired the larger parcel for $11 million in 2009 and bought the smaller portion for $6.1 million in 2010.
Wrigley’s net worth is estimated at $3.6 billion by Forbes. He assumed leadership of his family’s business in 1999 before selling it to Mars Inc. for $23 billion in 2008.
Previously, the record price for a home sale in Lost Tree Village was set at $55 million with Canadian baby products mogul Maurice Pinsonnault’s mansion at 12032 East End being sold earlier this year to an undisclosed buyer.
Larry Ellison, co-founder of Oracle, previously held the record for North Palm Beach with his purchase of a 7.4-acre oceanfront property in Seminole Landing for $80 million.
The largest residential sale so far this year in South Florida occurred when billionaire William Lauder sold properties at 1063 and 1071 North Ocean Boulevard in Palm Beach for over $160 million. Sources indicated that Charles Simonyi, known as the creator of Microsoft Excel, bought these properties as part of a larger acquisition on the island totaling about $350 million.
