A Palm Beach, Fla., home that last traded for $7.37 million has sold for $50 million.
The seller of the waterfront home is the estate of the late liquor distributor James V. “Jimmy” Tigani Jr., records show. The buyer is entrepreneur and investor Harvey Jones, an avid sailor who owns property in Palm Beach and Nantucket, Mass.
“The opportunity to live and be on the Intracoastal, and to have a boat, is something I’ve been very interested in,” said Jones, who owns a non-waterfront home nearby. “This has elevation, it’s well above the flood lines and slopes down to the Intracoastal.”
Read the full story on The Wall Street Journal here.