Jim Clark’s $95M Palm Beach Beachfront Estate Is Most Expensive New Listing
Jim Clark’s M Palm Beach Beachfront Estate Is Most Expensive New Listing
Stephane Cardinale/Sygma via Getty Images; realtor.com
The web browser Jim Clark launched is now defunct, but the co-founder of Netscape still has an eye for real estate. The billionaire’s posh property in Palm Beach, FL, is this week’s most expensive new listing on realtor.com®, on the market for $95 million.
The Mediterranean-style spread was originally offered off-market in 2016 for a whopping $137 million. Even with a drastic $42 million price reduction, it still managed to top this week’s priciest properties. Clark also changed up his representation, and Lawrence Moens now holds the listing. “It’s one of the most important estates in America,” Moens says.
The Silicon Valley entrepreneur scooped up the 1927 waterfront estate for just $11 million in 1999, according to the Real Deal. The property, Il Palmetto, with an Italian-inspired design by architect Maurice Fatio, was granted landmark status in 1980, but was in need of some work when Clark picked it up. The entrepreneur poured time and money into restorations and additions.
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Among the restorations, the Real Deal reported, are a Moroccan room and a wine cellar carved out of limestone that can hold 20,000 bottles. Updates included a two-bedroom guest house with an infinity swimming pool, accessible by underground tunnel. Architectural flourishes included adding 14-foot-high solid bronze gates, according to the Palm Beach Daily News. Less thrilling but much needed were updates to the foundation and roof, as well as electrical and plumbing.
While interior photos aren’t yet available, the main house features six bedrooms, and some 68,000 square feet of living space, including the two-bedroom guesthouse and a boathouse with another two bedrooms.
The estate has two elevators, and features a 50-foot living room, formal dining room, family room, theater room, game room, eat-in kitchen, gym, spa, and library/den. The property is ideal for a yachtsman—it boasts some 340 feet of beachfront.
The 73-year-old former Stanford professor, who is on the Forbes 400 list, with a fortune of $2.1 billion, thanks to timely tech investments, was known to have resided there with his wife, former Victoria Secret’s model Kristy Hinze.
Even with the price reduction and the money and time spent updating the palatial place, if the property goes for anywhere near ask, it will be yet another one of Clark’s savvy investments.
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