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Newquists sell 300 El Brillo Way for $9.5M to trust

Posted On: 02-08-2011

By Darrell Hofheinz  

Updated: 9:57 a.m. Friday, Feb. 4, 2011

Posted: 7:51 p.m. Thursday, Feb. 3, 2011

 

Aileen M. and Scott C. Newquist have sold their 1935 Maurice Fatio-designed red-brick estate at 300 El Brillo Way for $9.5 million, according to a deed recorded Tuesday by the Palm Beach County Clerk’s office.

With a little more than 13,000 square feet of living space inside and out, the home had last been listed at $11.5 million by agent Betsey Hall of Fite Shavell & Associates, who represented the Newquists in the Jan. 28 sale.

Broker-associate Pamela B. Slotkin of Brown Harris Stevens in Palm Beach acted on behalf of the buyer, which is listed on the deed as a trust administered by City National Bank of Florida.

Hall had the listing for more than a year but said that interest in the home from potential buyers had picked up recently — a nod at Palm Beach’s strengthening real estate market.

“I think we’re seeing a lot of activity in the market from buyers. The number of showings (of the house) certainly increased over the past few months,” said Hall. “I think buyers are finding what they’re looking for.”

Hall and Slotkin said they had signed confidentiality agreements that prohibited them from naming the buyer or releasing specific details of the transaction. Aileen Newquist said Tuesday that she did not have a comment about the sale.

Fatio designed the Monterey-style home — with some of its interior elements in the Art Deco style — for Edith Taylor and Robert D. Huntington, the brother of Helen Dinsmore Huntington, according to Palm Beach’s landmark designation survey for the house. Helen Dinsmore Huntington was the first Mrs. Vincent Astor.

The home has six bedrooms, nine bathrooms and two half-baths. With its two wings meeting in an L, the house stands on a corner lot measuring more than an acre, a couple of blocks south of the Everglades Club golf course.

A gravel driveway connects El Brillo Way with Travers Way and wraps around a garage that stands on the southeast corner of the lot, creating the effect of a front courtyard.

Unusual for Palm Beach, the home is built of red bricks, 500,000 of which were purchased by Huntington when Henry M. Flagler’s massive Hotel Royal Poinciana was razed in 1935, according to Fatio historian Kim I. Mockler.

The Newquists, who moved to Palm Beach from Jupiter Island, bought the house from Christopher and Leigh Larmoyeux for $7.9 million in 2002, according to property tax records. The sole owner recorded on the deed of sale was Scott C. Newquist, a longtime investment and corporate strategist, and entrepreneur, according to Internet sources. A former partner at Morgan Stanley, he is managing partner of GBP Capital of Greenwich, Conn.

The Newquists had listed their house for $13.8 million in November 2009.

The couple made a number of improvements to the property, including renovations that enlarged the dining room, expanded openings and added archways to bring in more light. Other changes included the addition of a 1,500-bottle wine-storage area and a double office. They couldn’t alter the exterior walls because the home had been landmarked by the town.

The home’s grounds feature a grotto-style pool and spa set amid tropical gardens and old growth trees. There’s also a tennis pavilion with courts.

“I think it’s the most beautiful house in Palm Beach,” said Slotkin, who added that her clients had first seen the house “a while ago. It was a very special deal.”

The sale was handled via a conveyance deed to a trustee under a land trust agreement. City National Bank of Florida’s Trust Department in Miami was listed as trustee of “Trust No. 2401-3159-00,” the buyer.

Source: Darrell Hofheinz, February 16, 2011, Palm Beach Daily News

http://www.palmbeachdailynews.com/news/newquists-sell-300-el-brillo-way-for-9-1231706.html

Daily News Real Estate Writer

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