Southeast
The property shown in 2020. PHOTO: EAGLEVIEW

FL - Florida Home on the Water Trades for More Than $90 Million

Located south of Palm Beach, the property was sold by hedge-fund founder Paul Saunders

A newly built, waterfront estate south of Palm Beach has sold for more than $90 million, according to people familiar with the deal.  

Located on a barrier island in the town of Manalapan, the roughly 2-acre lot stretches from the ocean to the Intracoastal Waterway, according to property records. The off-market transaction closed today; the identity of the buyer couldn’t be determined.

The sellers were Paul Saunders, a founder of the Virginia-based hedge fund James River Capital Corp., and his wife, Victoria Saunders, records show. The couple bought the vacant lot for $14.475 million in 2018, according to records. They couldn’t be reached for comment.

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The property has over 200 feet of direct ocean frontage and a dock on the Intracoastal, according to property records. The Saunderses built a roughly 16,000-square-foot house, property records show. Designed by the Benedict Bullock Group, the main residence has five bedroom suites, a golf simulator room, outdoor putting green and an outdoor kitchen and pool, according to the architect’s website.

Senada Adzem of Douglas Elliman represented the sellers. Chris Leavitt and Ashley McIntosh of Douglas Elliman represented the buyer.

The deal is the latest in a slew of mega sales in Palm Beach County since Covid started. The county’s median luxury sale price during the third quarter of 2021 was $17.25 million, up 72.5% from 2020’s third quarter, according to research and appraisal firm Miller Samuel.

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