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Estate Section house sells for recorded $9.87 million

Posted On: 09-26-2012

By Darrell Hofheinz

Daily News Staff Writer

Gloria and Joseph W. McCarthy have sold their house at 110 Clarendon Ave. for a recorded $9.87 million, the highest price paid for a non-waterfront property in the Estate Section since the end of 2008, according to sales records in the island’s multiple listings service.

Alfred D. “Chip” Malley and his wife, Janis, of Union, Ky., bought the six-bedroom Mediterranean-style house with 13,217 square feet of living space inside and out, according to the deed recorded Monday by the Palm Beach County Clerk’s office. The Malleys were represented in the deal by Fort Lauderdale-based broker Niki Higgins of Seaside Properties Group, who also has listed their three-bedroom condominium in Bellaria on South Ocean Boulevard for sale at about $2.8 million.

Listing agent Lore Smith of Sotheby’s International Realty acted on behalf of the McCarthys. She also negotiated for them in the purchase of their new residence, a four-bedroom apartment in One Watermark Place at the west end of the Flagler Memorial Bridge. The McCarthys paid a recorded $3 million for No. 701, which was sold by Bonnie G. and Thomas R. Hamilton of Springfield, Ky., who were represented by agents Carole Koeppel and Brett Koeppel, also of Sotheby’s.

The Clarendon Avenue house’s attractiveness, condition and location helped it fetch its sales price, Smith said. “I really believe it’s the most beautiful house in the town of Palm Beach,” she added.

Joseph McCarthy said he and his wife enjoyed living in the house, but with their son and daughter having moved to West Palm Beach and Los Angeles, it was time to downsize.

“It was just my wife and I, and nine bathrooms were just too much for us,” he quipped. “But we loved living there.”

Smith had represented the McCarthys in October 1999 when they paid a recorded $4.825 million for the property, shortly after the house was completed, courthouse records show. Six blocks north of The Mar-a-Lago-Club, the house stands one lot west of South Ocean Boulevard.


Wittmann Building Corp. built the two-story house as a “spec” home. The foyer features a double “bridal” staircase, while colonnaded loggias frame a swimming pool and fountain. There’s also a separate guesthouse.

Thanks to two side-by-side vacant lots immediately to the east, the house offers unobstructed ocean views.

In the past few years, the McCarthys had hosted events at their home honoring the Palm Beach Round Table lecture series and the American Society for the Prevention of Cruelty to Animals.

The McCarthys have strong ties the Boston area. A former president of the Motel 6 chain, Joseph McCarthy is the retired chief executive officer of the U.S. branch of Accor Corp., which bought the budget-lodging company in 1990.

The Malleys own a private early childhood educational facility with locations in Kentucky, Ohio and Indiana. Chip Malley is a former Ohio car dealer.

Carole Koeppel and her son had listed the McCarthy’s new apartment at One Watermark Place at $3.25 million — $250,000 more than it fetched. “We priced it right and it sold,” she said.

The Hamiltons, who own a Kentucky thoroughbred farm, had owed the condo since 2005, according to property records.

Carol Hickman, brokerage manager for Sotheby’s International Realty’s island office, said a search of the Palm Beach Board of Realtors MLS showed that the recorded amount fetched by the Clarendon Avenue house was the highest for a landlocked property in the Estate Section since the beginning of 2009. That’s when sales slowed dramatically as the recession began tightening its grip on the island’s housing market.


Source: Darrell Hofheinz, September 26, 2012, Palm Beach Daily News


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