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Ruby Rinker sells Billionaire’s Row estate for $23.5 million in private deal

Posted On: 06-03-2012

By Darrell Hofheinz 

Updated: 11:21 a.m. Sunday, June 3, 2012

Posted: 9:44 a.m. Sunday, June 3, 2012

 

Longtime Palm Beacher Ruby S. Rinker has sold her ocean-to-lake estate at 1840 S. Ocean Blvd. in a private deal for $23.5 million, the price on the deed recorded Thursday by the Palm Beach County Clerk’s office. It’s the largest single residential sale in Palm Beach in the last year, according to property records.

Dated May 29, the warranty deed lists the buyer as a land trust named after the address of the property, which measures 2.66 acres. The seven-bedroom house stands north of Sloan’s Curve near Ibis Way on the stretch of South Ocean Boulevard known as “Billionaire’s Row.”

Palm Beach attorney Guy Rabideau, who is listed as the trustee of the land trust that bought the house, said Friday he had no comment about the transaction.

The seller is listed on the deed as a revocable living trust in Rinker’s name, for which she acted as trustee. She is also listed as acting individually in the sale, “joined” by her husband, Andrzej “Andrew” J. Bytnar.

Built in 1971, the house and a two-bedroom outbuilding have nearly 12,230 square feet of living space, inside and out, according to property records. The property has a swimming pool and a tennis court among its amenities.

Rinker bought the house for $7.45 million in 1999, property records show.

The property was not listed for sale in the multiple listings services that serve the island. It was unclear Friday whether any real estate agencies were involved in the deal. West Palm Beach attorney Jayne Regester Barkdull, who prepared the deed, could not be reached for comment.

Rinker did not immediately return a phone message left Friday at her office.

Island Drive house

Rinker’s revocable living trust owns another house in Palm Beach on Everglades Island at 561 Island Drive, which Rinker acquired in 1996 from the estate of her former husband, the late Marshall “Doc” Rinker, who made his fortune in the concrete business. He died in 1996. Ruby Rinker later married Bytnar but retained Rinker as her surname.

The four-bedroom house on Island Drive, built in 1955, has been on and off the market for several years. It is presently being marketed at $9.5 million by Rinker’s grandson, real estate broker Brandon Rinker of Rinker Realty in West Palm Beach.

Brandon Rinker said Friday he was not involved in the sale of the South Ocean Boulevard property and did not name any firm that was.

Broker Christian Angle of Christian Angle Real Estate had at one point listed the Island Drive house for sale but said Friday he had no comment on the South Ocean Boulevard transaction.

Agent Mary Boykin of Sotheby’s International Realty, who at one point also had listed the Island Drive house for sale, could not be reached for comment Friday.

Ruby Rinker’s trust also owns property on Peruvian Avenue, housing Ruby S. Rinker Co., from which she manages investments.

 

Source: Darrell Hofheinz, June 3, 2012, Palm Beach Daily News

http://www.palmbeachdailynews.com/news/ruby-rinker-sells-billionaires-row-estate-for-23-2388789.html

 

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