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Restored house in Midtown Palm Beach sells for $8 million

Posted On: 02-03-2016

By Darrell Hofheinz

Daily News Real Estate Writer

In a sale recorded at about $8 million, Linda and J. Barry Donahue have parted with the house they owned since 1999 at 346 Seaspray Ave., according to a deed recorded Tuesday by the Palm Beach County Clerk’s office.

The buyer of the seven-bedroom property was a Florida limited liability company named after the property’s address. The only name linked to that entity in state business records is Palm Beach real estate lawyer M. Timothy Hanlon, who registered it. The deed lists the company’s address as that of Hanlon’s law firm, Alley Maass Rogers & Lindsay.

The price recorded with the deed was $8.15 million.

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The Donahues paid $1.35 million for the house and completed their major renovation project the next year.

An open-air loggia connects the three-bedroom main house to its four-bedroom guesthouse. In all, the residence has 8,256 square feet of living space, inside and out, property records show. The lot measures just shy of a half-acre and is three houses east of Cocoanut Row.

Corcoran Group agent Jim McCann represented the Donahues opposite agent Betsey Hall of Hall Real Estate, according to the local multiple listing service.

“It’s an in-town, beautiful property,” said McCann, who listed the house for sale about three months ago at just under $8.5 million.

“There are covered outdoor living areas and courtyards. It’s very romantic, in that Mediterranean, Old Palm Beach kind of way,” he said. “And with 150 feet of frontage on Seaspray, I guess you would call it a triple lot.

Noted society architect John Volk had overseen a renovation project in the 1960s, which completely reworked a 1920s-era house on the property. Volk carried out the work for Franci and Gen. William Tandy Young Jr. of Chicago; he was president of the Leo Burnett ad agency at the time.

Among the home’s features are covered loggias, pecky cypress details, a 1,500-bottle refrigerated wine room, a pub room and a whole-house generator.

The Donahues have ties to Connecticut, where J. Barry Donahue once owned a fine-arts business, records show. Florida records show he registered an eponymous company at the Seaspray Avenue house shortly after he bought the property.

One of the town’s earliest platted streets, Seaspray Avenue is two streets north of Royal Palm Way. The so-called “Sea” streets, which include adjacent Seabreeze and Seaview avenues, are considered prime real estate because of their central location in Midtown.

Hanlon and Hall couldn’t be reached for comment.

 

 

 

Source: Darrell Hofheinz, February 3, 2016, Palm Beach Daily News

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