SUB­DI­VI­SION

Palm Beach Daily News - - TODAY -

di­vi­sion, which borders South County Road. A “Palm Beach acre” mea­sures 40,000 square feet, slightly smaller than a con­ven­tional acre.

The lot en­com­passes 20,361 square feet and sold for $6.998 mil­lion, or about $343 per square foot. It was listed for sale at $7.95 mil­lion in the Palm Beach Board of Re­al­tors Mul­ti­ple List­ing Ser­vice.

The sub­di­vi­sion is be­ing mar­keted by de­vel­oper Sir Peter Wood, a sea­sonal Palm Beacher. In April 2016, Wood used a lim­ited li­a­bil­ity com­pany to buy Kluge’s former es­tate from the trustees of Columbia Univer­sity for a recorded $39 mil­lion. Kluge had be­queathed his es­tate, then ad­dressed as 89 Mid­dle Road, to his alma mater be­fore his death in 2010.

Wood sliced off an acre with a land­marked ocean­front house from the 4.2-acre es­tate and had the rest of the land cleared. He won the town’s ap­proval in July to sub­di­vide the va­cant land after agree­ing to re­duce the num­ber of lots from six to five in a com­pro­mise sought by neigh­bors.

Bro­ker Chris­tian J. An­gle of Chris­tian An­gle Real Es­tate han­dled both sides of the lot sale, ac­cord­ing to MLS records.

When the sub­di­vi­sion was un­der con­sid­er­a­tion by the town, Wood’s rep­re­sen­ta­tives ac­knowl­edged that the par­cel that sold this week — known as Lot D — was al­ready un­der con­tract. But they did not iden­tify the buyer, which the deed lists as Bravo D LLC.

Known as the El Bravo-Singer An­nex, the sub­di­vi­sion is the first ma­jor one in the Es­tate Sec­tion in re­cent mem­ory.

An­gle de­clined to dis­cuss specifics of the trans­ac­tion, and the O’Mal­leys couldn’t be reached, so their plans for the lot re­main un­clear.

At­tor­ney Gre­gory E. Young signed the deed on be­half of Wood’s own­er­ship com­pany, 89 Mid­dle Road LLC. “Sir Peter Wood and all in­volved in the pro­ject at 89 Mid­dle Road are pleased to have our first sale closed,” Young said.

Thomas D. O’Mal­ley re­tired as ex­ec­u­tive chair­man of the board of New Jer­sey-based PBF En­ergy in 2016 and re­mains a con­sul­tant for the com­pany. He has cre­ated and sold a num­ber of oil com­pa­nies, of­ten through con­sol­i­da­tion, ac­cord­ing to press re­ports. In 2010, he bought Iron­horse Coun­try Club in western Palm Beach County, which was then in bank­ruptcy.

Other lots for sale

An­gle is mar­ket­ing the sub­di­vi­sion’s re­main­ing lots for sale and said they al­ready had gen­er­ated a “stag­ger­ing level of in­ter­est and de­mand” among would-be buy­ers and real es­tate agents.

The largest — a cor­ner par­cel at South County Road and El Bravo Way — is priced at just un­der $14.5 mil­lion, or $361 per square foot. Known as Par­cel E, it mea­sures 40,150 square feet.

The other three lots are on the north side of the prop­erty, nearer the culde-sac that ter­mi­nates Mid­dle Road:

Par­cel A, with 17,985 square feet along South County Road, is priced at $6.895 mil­lion, or $383 per square foot;

Par­cel B, with 30,268 square feet nearer Mid­dle Road, is priced at $10.9 mil­lion, or $360 per square foot; and

Par­cel C, with $21,164 square feet on the north­east side of the prop­erty, is priced at $8.25 mil­lion, or $390 per square foot.

Wood has said he might sell some of the lots but also might de­velop homes there him­self or with oth­ers.

An­gle has set a price of $21.9 mil­lion for Wood’s land­marked 1921 house at 91 Mid­dle Road, which was de­signed by noted so­ci­ety ar­chi­tect Ad­di­son Mizner. Kluge used it as a guest house, and it is not part of Wood’s sub­di­vi­sion.

Photo by Aerial Photography Inc., cour­tesy 89 Mid­dle Road LLC

Thomas D. and Mary Alice O’Mal­ley’s ocean­front home at 101 El Bravo Way, cen­ter, backs up to va­cant land in this 2016 photo, which was taken be­fore the land was cleared for a new five-lot sub­di­vi­sion.

Richard Graulich / Daily News

The lot on El Bravo Way cov­ers 20,361 square feet.

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