Updated Aug 24, 2026
Mystery Company Purchases Historic Merrywood Mansion In Winter Park For $15 Million
1020 Palmer Avenue
$15,000,000
Building Size
—
Asset Type
Single Family
Closing
Aug 19, 2026
About this deal
AI
The property asset involved in this transaction is a 3.67-acre lakefront site located at 1020 Palmer Avenue in Winter Park, FL. This sale includes the historic Merrywood mansion, built in 1939 in the Spanish style, which has drawn attention for its architectural significance. The final sale price was $15,000,000.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $15,000,000
- Address: 1020 Palmer Avenue
- Market: Winter Park, FL
- Acres: 3.67
- Seller: Cathy & Raymond Gilmer
- Broker: Mick Night - Premier Sotheby’s International Realty
A mystery company purchased the mansion and land, which raises concerns regarding the preservation of the property amid plans for a potential new 55,991-square-foot home. This transaction highlights the ongoing discussions surrounding the fate of architecturally significant properties in the area.
On the Map
$15,000,000
Single Family
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Coltons Point Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93