Chestnut Park Holdings LLC Acquires Palm Beach Oceanfront Estate From John Sculley For $37M

A single-family oceanfront estate located at 1214 North Ocean Boulevard in the Palm Beach market was sold for $37,000,000. The property measures 7,906 square feet, translating to a price per square foot of $4,680. The estate was initially listed at an asking price of $49.5 million.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $37,000,000
• Buyer: Chestnut Park Holdings LLC
• Seller: John Sculley & Diane Sculley
• Buyer’s Representative: James Kenny - K2 Realty
• Seller’s Representative: Christian Angle - Christian Angle Real Estate
• Lender: J.P. Morgan Chase
• Loan Amount: $25,000,000

The deal highlights former Apple CEO John Sculley and his wife, Diane Sculley, as the sellers of the property. James Kenny of K2 Realty represented the buyer, Chestnut Park Holdings LLC, while Christian Angle of Christian Angle Real Estate represented the sellers in this transaction.