A family from Brazil has sold their Palm Beach compound for $25 million in an off-market transaction. The properties, located at 151 Atlantic Avenue and 150 Dunbar Road, were owned by Orat LLC and 150 Dunbar Road Inc, entities linked to Thais and Deyse Racy. The buyers are Heavenly Partners and Happy Isles Dreams, both Delaware-based firms.
Ashley McIntosh and Kendall Corso of Douglas Elliman represented the sellers, while Elizabeth DeWoody of Compass represented the buyer.
The Racys, who are from Sao Paolo, Brazil, commissioned architect Gene Lawrence to design the homes for seasonal use in the early 2000s. The house on Atlantic Avenue was built in 2001 with three bedrooms and three bathrooms over 3,100 square feet. Records show it was purchased by the Racys for $675,000 in 1998. The adjacent home on Dunbar Road is larger at 5,700 square feet with five bedrooms, five bathrooms, two half-bathrooms, and a pool. Together, the two properties cover 0.7 acres.
The Dunbar Road property had been listed for $31.9 million last year but saw its price reduced twice before being delisted in May.
This sale is part of a series of high-value real estate transactions in Palm Beach as activity increases ahead of the busy season. Earlier this month, private equity executive Greg Mondre purchased a 1.2-acre oceanfront lot for $58 million after acquiring another local home for $31 million earlier this year. Billionaire Winifred Johnson-Marquart also bought a landmarked property for $30 million recently. In September, hedge fund manager Pieter Tasselar sold his mansion on the island for $29.5 million through another off-market deal.
