Friday, July 11, 2008

Another May-jer Palm Beach Estate on the Block

SELLER: Terry Taylor
LOCATION: S. Ocean Boulevard, Palm Beach, FL
PRICE: $72,500,000
SIZE: 30,547 (approx. total), 9 bedrooms, 14 bathrooms
DESCRIPTION: Magnificently restored historic Addison Mizner Estate with 268' of Ocean frontage on approximately 3 acres that include a spectacular beach cabana. Walled and hedged for privacy and security and draped in unsurpassed quality and elegance.

YOUR MAMAS NOTES: As middle class folks across the U-nited States of America struggle to put gasoline in their automobiles and food on their tables it seems the the parade of palatial Palm Beach mansions being sold for eye popping amounts of money will continue uninterrupted.

Just this year in Palm Beach alone clothing baron and film producer Sidney Kimmel sold his magnificent and modern Thierry Despont designed digs for $77,5000,000 (plus another $4,000,000 for furniture and fittings), and brash and brassy haired real estate tycoon Donald Trump is reported and rumored to have unloaded his uglee ass flip property Maison de l'Amitie to a Russian investor for a bone chilling $100,000,000. Today in the Wall Street Journal's Private Properties column Your Mama read that a Polynesian style house in Palm Beach also quietly transferred this year in a private deal for $68,500,000 and that another humongous house fronting the Atlantic Ocean has just been dumped onto the market with a staggering–but no longer surprising–$72,500,000 asking price.

Located on a three acre lot that stretches 268 gorgeous feet along the sugar sands of the Atlantic Ocean, prop records (and the WSJ) reveal that the newly listed Addison Mizner designed estate is owned by a Florida bizness man and entrepreneur named Terry Taylor who made his millions selling cars. Good lawhd children, Your Mama is in the wrong damn bizness. Here we tap our finger to the nubbins for chicken scratch and this guy is out selling so many Chryslers and Fords he can afford to live in a hotel sized house. All you mommys out there take note: Perhaps it ain't so bad if your child winds a used car sales(wo)man after all.

Anyhoo, property records show the mega-manse measures in a not very modest 26,805 square feet. Additional structures on the lavish spread include a large pool house, a beach cabana and two apartments atop the two three car garages that bring the total to somewhere around 30,547 square feet according to listing information.

The recently rehabbed residence was built in 1924 and includes such dee-luxe (and expected) features as a wine cellar, an exercise room, a private generator (for when the big hurricanes come sweeping through) and a movie thee-ayter that includes a concession stand and a ticket window. Now children, Your Mama can understand that Richie Rich types might crave private movie theaters in their private homes in order to be spared the indignity of having to sit in a public theater with other less fortunate people, but what does anyone need with a damn ticket window and a concession stand? Does he charge his guests 10 damn dollars for the movie and another $49 for popcorn and a soda? Pleeze. If anyone were to ask Your Mama, and no one did, any person with buckets of bank notes who bothers with the time and expense of putting in a ticket booth and/or a concession stand in their private cinema is being fleeced (FLEECED!) by their decorators and contractors who surely giggled themselves all the way to the bank on the backs of your foolish cinematic desires.

Movie theater extravagance aside, perhaps most shocking about this listing is that according to property records, Mister Taylor purchased this princely pile in September of 2003 for $22,200,000. A quick run of the beads on Your Mama's bejeweled abacus tells us the man is hoping to more than triple his money in just 5 years. That's right children. More. Than. Tripple. Try and swallow that bitter pill as you decide between a Kia and a Hyundai. If Your Mama has said it once, we've said it too many times, one of the many ways the rich get richer is buying and selling high priced properties to one another at heart stopping profits.

None the less, given the apparent demand for extraordinarily expensive properties in Palm Beach, Your Mama would be stoopid to predict anything other than that this house will be sold by the end of the year. Now give us a few minutes to go get our nerve pills before we pass out from flabbergast.

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