A Sprawling 15-Acre Oceanfront Estate Near Palm Beach Just Sold For $95 Million

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In January 2016, two absolutely incredible real estate properties hit the market. Both were occupied by the same family for several decades. Both were truly exceptional. The first property was Hugh Hefner’s Playboy mansion. When the Playboy mansion hit the market in January 2016, the listing was valued at $ 200 million. This was enough to make it the most expensive home for sale in the United States. A few weeks later, the 15-acre campus / property in Florida took second place with a list price of $ 195 million. The Playboy mansion, then-32-year-old Twinkus / Pabst Blue Ribbon heir, sold for about six months after being listed in Daren Metropoulos.

The Florida mansion was a hard sell. The listing was removed after some time and then added to $ 115 million in October 2020. According to the Multiple Listing Service, it sold for just $ 95 million. This is the latest in a string of Florida mega-mansion sales, as billionaires flee high-tax New York / Connecticut / California in search of a better place to work from home, or simply live.

Located in Palm Beach County, Manalapan, the 15-acre property called “Gemini” spans the entire width of an island. On one side, the property has 1,200 feet of Atlantic Ocean sand. On the other hand, there is 1,300 feet of frontage towards the intercostal waterway.

The original mansion was built in 1940 by Gloria Guinness, a Mexican-born socialite whose fate was her fourth marriage to Thomas Luel Guinness. Thomas was actually the heir to the Guinness Beer dynasty, but he comes from a branch of the family that actually makes more money through banking and real estate than the sale of beer.

Acquisition of property William B. in 1980s. Ziff did, who earned his fortune through Jiff Davis, publisher PC Magazine and the coupon mailer RetailMate, among a dozen other publications.

In 1994, William Ziff sold 95% of Ziff Davis to private equity firm Frostman Little for $ 1.4 billion. He retired immediately, and went on to live a luxurious life until he died in 2006 at the age of 76. He was survived by Tamsen Ain Kogis.

Upon retiring in 1994, William actually transferred most of his wealth from his first marriage to his three sons. Those three sons, Dirk Ziff, Robert Ziff and Daniel Ziff, increased the family’s fortunes in general through sweetheart investments. Today all three Ziff brothers are worth less than $ 5 billion.

After acquiring Mithun in the 1980s, William b. Ziff renovated and expanded Gloria’s original home to 62,000 square feet. Today the main house has 33 bedrooms and 38 bathrooms. When you include a guest house and cabana, the property has 47 bathrooms. A guest house has seven bedrooms.

The property is so incredible and unique. It really should be seen to be believed. Check out this video tour:

Other property highlights include:

  • World class botanical gardens with 1,500 species of tropical plants
  • PGA Golf Rated Practice Area
  • Sports complex with basketball court, tennis court and mini-golf course

The new owner of the house has not been revealed yet. If it becomes public, we will keep you posted!

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