By Kate Hinsche, The Real Deal
“Local attorney Guy Rabideau signed on behalf of the buyer, who is hidden. It was an off-market deal.”
A health care mogul and his wife sold their remodeled waterfront West Palm Beach estate for a record $21 million.
Sean and Ashly Heyniger sold the home at 3140 Washington Road to a Florida LLC named for the address, according to records. Local attorney Guy Rabideau signed on behalf of the buyer, who is hidden. It was an off-market deal
Sean Heyniger founded Watermark Medical, a West Palm Beach-based sleep medicine provider, in 2008. He served as CEO until last year when he left to found React Health, according to his LinkedIn. Ashly Heyniger is the founder of Cuchini, a consumer product brand.
The couple also invests in local real estate. Records show they own four other West Palm Beach properties that they bought for a combined $4 million since 2018, including the property next door to this Washington Road estate.
The Heynigers bought the 1.4-acre estate at 3140 Washington Road for $1.5 million in 2014, records show. Built in 1940, the 4,300-square-foot home has five bedrooms, five bathrooms, and two half-bathrooms. Records show the couple renovated the interior of the home and added a new roof.
The size of the estate sets it apart from neighboring properties, most of which are an acre or less. The $21 million sale price sets a record for waterfront homes in West Palm Beach.
West Palm Beach’s luxury market saw extreme price growth during its pandemic peak, much like the rest of South Florida. Despite a recent cooling in the market, prices have held, particularly in and around Palm Beach. In December, Tom Ford bought a non-waterfront Palm Beach estate for a record $51 million.
In October, rivet mogul Jim Randall bought a waterfront West Palm Beach home for $16 million. In July, the widower of a Standard Oil heiress sold his waterfront West Palm property to Related Group, also for $16 million.
Non-waterfront properties have also been in high demand in West Palm Beach. Bobby Leidy, dress designer Lilly Pulitzer’s grandson and heir to the Pulitzer publishing fortune, sold his non-waterfront estate for $8.7 million in November. That sale tied the price record for non-waterfront West Palm Beach homes that was set in January of last year.