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Next-door neighbor buys Palm Beach seaside house for nearly $11 million: deed

Posted On: 08-16-2018

A British businessman who last fall bought an oceanfront house in Palm Beach’s Estate Section just purchased the house next door for nearly $11 million.

Online real estate entrepreneur Alex Chesterman paid $10.75 million for the 1950s-era house at 888 S. Ocean Blvd., according to the deed recorded today. The seaside house is immediately north of the one he bought for a recorded $8.75 million in late October at 880 S. Ocean Blvd.

The latest purchase brings Chesterman’s total land holdings to eight-tenths of an acre with about 189 feet of oceanfront. 

In this week’s deal, Mary Theresa Khawly sold the house, which faces the ocean at the prominent corner where South Ocean Boulevard meets South County Road. Because she had the house homesteaded in the Palm Beach County property rolls, she was “joined” on the deed by her husband, Dr. Roosey Khawly.

With its gently curved front facade and vaguely Art Deco-influenced architecture, the two-story house is immediately north of the county road. That puts it on the immediate outskirts of the area barred to through-traffic when the coastal road closes during President Donald Trump’s visits to Mar-a-Lago, several blocks to the south.

The four-bedroom house has 6,853 square feet of living space, inside and out. The land measures nearly a half-acre, including a beachfront parcel with a cabana on the east side of the coastal road.                                                          

The Khawlys recently expanded the house’s master bedroom by enclosing a second-floor terrace at the rear of the property. The addition expanded the house by a little more than 850 square feet.

Built in 1951, the house has been on and off the market since early 2016. Broker Lawrence Moens of Lawrence A. Moens Associates had it listed at $13.8 million when it sold. Moens couldn’t be reached, and Roosey Khawly declined to comment.

Agent Dana Koch of the Corcoran Group confirmed that he and his mother, Corcoran agent Paulette Koch, handled the buyer’s end of the deal. They also represented Chesterman when he bought the adjacent house. Dana Koch declined further comment.

Chesterman founded Zoopla.co.uk, a real estate website that serves Great Britain. He is listed on the deed with an address in London.

Chesterman got a windfall in May, according to published reports. He reportedly cashed in to the tune of some $77.5 million when Zoopla’s ownership company sold for the equivalent of $2.8 billion to Silver Lake, an American private-equity firm.

Chesterman has already been issued a permit to demolish the interior of the house he bought in October as well as its pool, according to town records. But his plans for the house he just bought aren’t yet known. The house has not been approved for demolition by the Architectural Commission.

The house at 888 S. Ocean Blvd. was sold with a beach cabana on a parcel of land across from the ... Read More

The Khawlys recently completed their renovation with “high-quality finishes, which carry throughout the property” and left the house in “ready-to-use condition,” according to Moens’ sales description in the Palm Beach Board of Realtors Multiple Listing Service.

Photographs of the interior show its contemporary-style decor, with gallery-white walls, sleek furnishings, warm wood accents and a family room with a sweeping staircase with a glass-panel banister.

The Khawlys have ties to New York City. Mary Theresa Khawly — a longtime trustee of the American Ballet Theatre — bought the Palm Beach house for a recorded $2.9 million in 2001. She had the house homesteaded in the latest Palm Beach County tax rolls.

The house also had undergone a major renovation about a decade ago, town records show. That project included the addition of the beach cabana. Architect Harold Smith of Smith & Moore Architects designed that project and the more recent one.

In late October, British online entrepreneur Alex Chesterman paid a recorded $8.75 million for this Monterrey-style house facing the sea at ... Read More

Chesterman bought the house next door at No. 880 from retired securities executive Robert J. Dwyer and his wife, Connie. Premier Estate Properties agent Jim McCann, who was then with the Corcoran Group, acted for the sellers in that deal. That house was built in 1951 and has five bedrooms and 6,843 square feet of living space.

Chesterman, who was identified as a married man on the October deed, hadn’t owned any Palm Beach real estate before buying the house at No. 880.



Source: Darrell Hofheinz, August 16, 2018, Palm Beach Daily News

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