A Brazilian family 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, Delaware-based firms.
Ashley McIntosh and Kendall Corso of Douglas Elliman represented the sellers in the deal, while Elizabeth DeWoody of Compass represented the buyer.
The Racys, originally from Sao Paolo, Brazil, commissioned architect Gene Lawrence to design both homes for seasonal use in the early 2000s. The house on Atlantic Avenue was built in 2001 with three bedrooms and three bathrooms across 3,100 square feet. Property records indicate it was purchased for $675,000 in 1998. The adjacent home on Dunbar Road was constructed in 2002; it features five bedrooms, five bathrooms, two half-bathrooms, a pool, and spans 5,700 square feet. Together the properties cover a total of 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.
Recent months have seen several high-value transactions in Palm Beach as activity increases ahead of the busy season. Earlier this month private equity billionaire Greg Mondre bought a 1.2-acre oceanfront lot for $58 million after purchasing another home on the island for $31 million earlier this year. Billionaire SC Johnson heiress Winifred Johnson-Marquart also acquired a landmarked property for $30 million this month. In September Dutch hedge fund manager Pieter Tasselar sold his mansion on Palm Beach Island for $29.5 million through an off-market sale.
