Palm Beach Real Estate: $3.9 million profit in 2 days
July 2, 2016 | Richard Sites
The house flippers you see on TV would be shocked at this deal. According to the Palm Beach Daily News (The Shiny Sheet) a home on Palm Beach sold twice in 1 week for a staggering profit of $3.9 million.
The home — known as Hogarcito — is located directly on the Everglades Golf Course. It was built in 1921 by cereal heiress Marjorie Merriweather Post and her then-husband, financier E.F. Hutton. The couple vacated it after completing their ocean-to-lake estate, Mar-a-Lago, in 1927. Hutton was also responsible for building the Seminole Golf Club in North Palm Beach.
Hogarcito (“Little Home” or “Little Hearth” in Spanish) was designed by noted society architect Marion Sims Wyeth. Among its prominent features is a Spanish-style bell tower that rises three stories above the property. The location is just a block south of the noted Worth Avenue.
Donald Trump owns Mar-a-Lago now and has turned it into a private club.
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