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Paul N. Leone Of Flagler System, Inc. Acquires Historic Palm Beach Post Office Building From Jeff Greene For $28M

Property Image
SOLD
$28,000,000

Florida

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Office
Sold 12/27/2024
the dealdetailscomps
Property Image
SOLD

Paul N. Leone Of Flagler System, Inc. Acquires Historic Palm Beach Post Office Building From Jeff Greene For $28M

95 North County Road

See Similar Deals
Office
Sold 12/27/2024
the dealdetailscomps

Summary

FLORIDA
Asset Type:Office
Transaction Type:Sale

The asset involved in this transaction is an office property located at 95 North County Road in Palm Beach, which has historical significance as the iconic Palm Beach Post Office Building, built in 1936. The property was sold for $28,000,000, reflecting its value within the local market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $28,000,000
  • Buyer: Paul N. Leone - Flagler System, Inc.
  • Seller: Jeff Greene - Florida Sunshine Investments

Key individuals involved in the deal include billionaire Jeff Greene, who previously acquired the property for $3.725 million in 2011, and Paul N. Leone, representing Flagler System, Inc. This purchase contributes to The Breakers' expanding Royal Poinciana Way investment portfolio, which has now surpassed $100 million in local investments, indicating a strategy for revitalization of the region.

Details

SOLD
IMAGE: Jeff Greene & Paul N. Leone DATE: 12/27/2024 ADDRESS: 95 North County Road MARKET: Palm Beach ASSET TYPE: Office BUYER: Paul N. Leone - Flagler System, Inc. SELLER: Jeff Greene - Florida Sunshine Investments SALE PRICE: $28,000,000 NOTE: Billionaire Jeff Greene unloads iconic Palm Beach Post Office Building to The Breakers's ownership company for $28 million. This historic 1936 landmark joins The Breakers' growing Royal Poinciana Way empire, surpassing $100 million in local investments, with plans for further revitalization. Greene purchased the property for $3.725 million in 2011.

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