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House on S. County Road sells for $8.9 million to next-door neighbor

Posted On: 02-16-2018

Mutual funds pioneer Charles “Chuck” M. Royce and his wife, Deborah, whose lakefront house late last year won a Ballinger Award, have sold their other Palm Beach house across town to its next-door neighbor for a recorded $8.9 million.

Kenneth W. and Claudia J. Silverman bought the house at 830 S. County Road, according to the deed recorded today by the Palm Beach County Clerk’s office. The property lies immediately east of the Silvermans’ lakeside estate at 215 Via Del Mar. The purchase brings their total land on the street to a little more than an acre.

Built in the 1940s, the Royces’ five-bedroom house changed hands with a one-bedroom pool cabana/guesthouse added in the early 1970s, building records show. In all, both buildings have about 7,000 square feet of living space, inside and out. On a half-acre lot, the residence fronts South County Road at the northwest corner of Via Del Mar, about a half-mile north of President Donald Trump’s Mar-a-Lago.

Broker Lawrence Moens of Lawrence A. Moens Associates handled both sides of the off-market sale, his office confirmed.

Chuck Royce is chairman of The Royce Funds and helped create the so-called “small cap” mutual fund industry, according to published reports. His wife is a former actress who in the 1990s was an executive with Miramax Films. Among her charitable work, she is a board member of the National Garden Conservatory and serves on the board of trustees’ executive committee for the New York Botanical Garden.

Kenneth Silverman is chairman and CEO of The Silverman Group, a New Jersey-based family real estate and private equity company he founded following his 2006 sale of Silver Line Building Products Corp., a vinyl window manufacturer. The Silverman Group’s portfolio includes commercial, office and industrial buildings across the country, according to the company’s website. Silverman’s son, Blake Silverman, co-founded the company with his father and serves as its president.

The Silvermans bought their lakefront house, on a lot measuring six-tenths of an acre, for $19.5 million in 2011. The five-bedroom house built in 1967 has more than 18,000 square feet of living space, inside and out. Via Del Mar is a bit north of the point where the road curves eastward to meet South Ocean Boulevard.

The house the Silvermans just bought has Regency-inspired architecture and was reportedly designed and built by Palm Beach developer Clarence Mack.

The Royces paid a recorded $6.9 million for the property in 2007, courthouse records show. They carried out various updates to the property, including the installation of a new air-conditioning system, courthouse records show.

Chuck Royce described the house as “perfectly wonderful” in an article in Palm Beach Life magazine, published earlier this month by the Daily News.

But he wanted a house with access to the Lake Trail. The couple bought their home across town — a landmark known as Lido and built around 1919 — for $13.4 million in January 2014. They then executed a major renovation and restoration, which included re-landscaping the lakeside property at 10 S. Lake Trail. The Preservation Foundation of Palm Beach honored the project with a 2017 Robert I. Ballinger award, one of two presented in December to recognize a significant and historically sensitive renovation.

In the 2014 sale sale on South Lake Trail, agent Betsey Hall of Hall Real Estate was on the sellers' side, and agent Suzanne Frisbie of the Corcoran Group acted on behalf of the Royces.

The Royces have other homes in Riverside, Conn. and New York’s Catskill Mountains. They also are restoring a historic house in Watch Hill, R.I. There, the Royces were involved with an extensive reconstruction of Ocean House, a historic seaside hotel built in the 19th century.

The other Ballinger Award presented in December went to Yoram and Pnina Weisfisch’s 1923 Mediterranean-style residence at 280 N. Ocean Blvd. designed by noted society architect Addison Mizner, with 1928 additions by architect Maurice Fatio. Architect Jacqueline Albarran and landscape designer Jorge Sanchez were lead players in both projects.

According to architectural and social historian Augustus Mayhew, the house that just sold was once owned by Muriel “Momo” Bache Richards Pershing and her stockbroker husband, Francis Warren Pershing, the only son of World War I’s Gen. John Joseph “Black Jack” Pershing. Momo Pershing was the granddaughter of financier Jules Bache, who lived at La Colmena on Barton Avenue.

The Royces, the Silvermans and Moens couldn’t be immediately reached.




Source: Darrell Hofheinz, February 19, 2018, Palm Beach Daily News

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