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