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Jack Taylor’s estate sells Gulfstream Road home for $7.3 million

Posted On: 02-03-2017

A five-bedroom house owned by the late Jack C. Taylor — the billionaire who founded Enterprise Rent-a-Car — has changed hands on Gulfstream Road for $7.3 million, less than two months after it entered the market.

A couple of blocks south of Worth Avenue at the corner of South County Road, the 6,654-square-foot house was built in 2001 at 146 Gulfstream Road. The property was listed for sale at $8.25 million Dec. 2 and landed under contract about a month later, with the sale closing Jan. 27.

The deed recorded Jan. 31 lists the buyers as real estate developer Carlos A. Arredondo and his wife, Mari V. Arredondo. The couple owns an oceanfront condominium on Singer Island but has longtime ties to Greenwich, Conn.

Taylor, who died in July at 94, paid $6.7 million for the Gulfstream Road house in September 2007. With another house in St. Louis, Taylor owned the Palm Beach property through a Missouri limited liability company, Central Avenue Investments LLC.

In March 2016, Forbes.com estimated Taylor’s wealth at $5.3 billion, ranking him 246th among the wealthiest people in the world.

Brown Harris Stevens agents John O. Pickett III and his wife, K.C. Pickett, were involved on both sides of sale. They knew the house well, having owned it themselves from 2002 to 2004 before selling it to technology entrepreneur Casey Cowell. He, in turn, sold it to Taylor.

John Pickett says he expected the property to sell quickly.

“It’s a tremendous location and a great house – and it was priced appropriately,” Pickett says. “It didn’t surprise me that it didn’t last very long.”

Taylor bought the house after he filed for divorce from his second wife, Susan Taylor, who still owns the home the couple shared on South Ocean Boulevard’s Billionaires Row, property records show. He deeded the house to her in 2008.

The Arredondos, meanwhile, have their condo in Ocean’s Edge at Singer island homesteaded in the latest Palm Beach County tax rolls. On the 18th floor at 5050 N. Ocean Drive, the three-bedroom unit is listed for sale at $3.94 million through agent Vincent G. Marotta of Illustrated Properties’ Marotta Realty Group, according to the regional multiple listing service.

 

 

Source: Darrell Hofheinz, February 3, 2017, Palm Beach Daily News

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