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Palm Beach house, once listed at $84.5 million, is now off the market

Posted On: 06-14-2018

A never-lived-in beachfront mansion at 1071 N. Ocean Blvd., last priced at $59.9 million, has dropped out of the Palm Beach Board of Realtors Multiple Listing Service, more than three years after it was listed for sale.

Broker Christian J. Angle of Christian Angle Real Estate had the listing for the 35,993-square-foot house in Palm Beach, originally said to have been built as a custom home for Philadelphia-based owners Vahan and Danielle Gureghian.

“The family has taken it off the market, is considering their options and is considering moving back into the home to enjoy it,” Angle said Wednesday.

The listing was canceled June 8, according to MLS records.

The grand salon at 1071 N. Ocean Blvd. measures 40 feet by 37 feet, according to the sales listing. Photo by ... Read More

With architecture reminiscent of a French chateau, the house stands on a 2-acre double lot with 242 feet of shoreline. It was initially priced at $84.5 million but has undergone several price reductions.

With its modified H-shape, the house has eight bedrooms, seven bathrooms and 10 half-baths.

Other features include a grand salon, dual ocean balconies, a massage room, a home theater, a pub room, a library and a gameroom. It has garage storage for eight cars.

The property is owned by a trust linked to the Gureghians, who are both attorneys. Vahan also is a politically connected entrepreneur who lately has specialized in the charter school industry.

At recent meetings of the Architectural Commission, North End neighbors have criticized the house for being out of scale with its lot and the neighborhood.



Source: Darrell Hofheinz, June 14, 2018, Palm Beach Daily News

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