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Exclusive: Celine Dion’s Jupiter Island estate finally sells for $28M

Posted On: 05-30-2017

Superstar singer Celine Dion’s 5.7-acre oceanfront compound on Jupiter Island has sold for $28 million, far less than the $72.5 million price tag it had when it entered the market in August 2013, the deed recorded Friday shows.

The recorded sales price is also about $10 million less than the $38.5 million price tag last attached to the estate, which has 415 feet of beachfront at 215 S. Beach Road in the super-affluent town near Hobe Sound. With water slides, a main house and several other buildings, the property is said to have sold with most of its furnishings and contents.

The buyer is the Jupiter Island Trust, according to the deed recorded by the Martin County Clerk’s office. An American who will use it as a vacation residence is reportedly behind the trust, according to one of the real estate agents involved in the deal.

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The deed lists Paul Friedman as trustee of the trust. No other information about Friedman was immediately available.

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The private water park can be seen on the other side of this pool at the estate just sold by Celine ... Read More

Dion’s Canadian ownership company paid about $19.56 million for the land alone in two separate transactions in 2005 and 2008, courthouse records show. That doesn’t count the millions she and her late husband, Rene Angelil, spent building the house.

The estate was initially marketed privately but later entered the multiple listing service after failing to attract a buyer. It also underwent a number of substantial price cuts over the past four years.

Sotheby’s International Realty handled both sides of the sale.

In late April, Canadian broker Joseph Montanaro of Montreal, who represented the property in conjunction with Sotheby’s

International Realty in Palm Beach, told the Montreal Gazette that the sale had been finalized. But Palm Beach-based Sotheby’s listing agents Cristina Condon and Todd Peter wouldn’t confirm to the Daily News that a sale was in the offing.

Condon represented the buyer in the sale, according to the local Multiple Listing Service. Condon and Peter declined to comment on the sale today.

With 13 bedrooms, the buildings’ design was inspired by Bahamian architecture. The estate includes a 10,000-square-foot main residence complemented by a guest house, a tennis house, a beach house and a pool house. The oceanfront property fronts the main road through Jupiter Island, which also has been home to other celebrities including golfers Greg Norman and Tiger Woods. 

One pool is directly on the ocean, and the two others are part of a private water park featuring spiral slides, a slow-moving “lazy river” and water cannons.

Dion’s ownership company bought the first of the two properties that comprise the estate for about $12.5 million in June 2005. The second parcel, next door, was added for about $7 million in January 2008.

Dion reportedly spent as much as $20 million to build the estate, completing it in 2010 with Angelil. They put it on the market, privately, after she signed a contract for an extended run of performances beginning in March 2011 at Caesars Palace in Las Vegas.

At the time the house was first marketed for sale, Montanaro, Dion’s Montreal real estate agent, told the Wall Street Journal that the Grammy-winning singer had decided to part with the house because she wouldn’t be using the estate as much as she had hoped. Her husband died in January 2016.

The construction of the estate sparked controversy among Jupiter Island residents who were concerned about the scope of the project on an ecologically sensitive site and the way the town approved the water-park components.

Montanaro is with the Canadian division of the Sotheby’s network. He isn’t licensed to sell property in Florida but marketed the Jupiter Island property internationally, as did the Palm Beach agents.

The property underwent several price reductions in reaction to the relatively soft market for high-end resale properties, Montanaro told the Gazette.

“Sometimes when sellers put a lot of money in a house, there’s always a gamble that you might not get back what you put in, especially in the short term,” Montanaro said in the article. “The sellers spared no expense in building this estate.”

Broker-owner Adrian Reed of Fenton Lang Bruner & Associates had the listing for about a year, stretching over parts of 2015 and 2016. The seller at that time was committed to an asking price of $45.5 million, he said Friday.

“We brought some well-qualified and almost-willing buyers,” Reed said, but the negotiations didn’t result in a deal.

The Sotheby’s sales listing mentions other features at the property, including a “simulated golf range” leading to the tennis court and a built-in grill and separate kitchen at the pool house. The “cozy beach house” has a sleeping loft on its second floor and a massage room.

 

 

Source: Darrell Hofheinz, May 30, 2017, Palm Beach Daily News

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