John Scully and his wife, Diane, expanded their property at 1214 N. Ocean Blvd. By buying a house next door and then destroying it. The new owner is Delaware-based Chestnut Park Holdings LLC.
Amidst the intense demand of Los Angeles’ luxury real estate boom
Los Angeles led the top 10 most expensive home sales in June, highlighting Paris Hilton’s purchase of the $63 million Beverly Hills Mansion.
Cheddar
- Oceanfront Estate Palm Beach, 1214 N. Ocean Blvd, sold for $37 million after being asked for $49.5 million.
- Sellers John and Diane Scully owned the property as trustees.
- The new owner is Delaware-based Chestnut Park Holdings LLC, a deed recorded on September 5th shows.
- The two-storey Bermuda style home features 7,906 square feet of living space both inside and outside. The facility measures on acres and crosses the coastal road directly from the beach.
Former Apple CEO John Sculley and his wife Diane have given up on the oceanfront home at the northern tip of Palm Beach, Florida for $37 million.
In 2018, Sculleys paid $14.925 billion for the five-bedroom oceanfront house at 1214 N. Ocean Blvd., built in 1951 and separated from the beach by coastal roads. In 2023, the couple quickly bought another 1950s home to the west, scoring $11.35 million on 110 Mockingbird Trails. The parcel increased the size of the property to about one acre, property records show.
The Delaware registered limited liability company, named Descnut Park Holdings LLC, is the new owner, according to a deed recorded on September 5th. The document shows that Chestnut Park Holdings has a mailing address at 200 West St., New York City, at the tower that houses the global headquarters of Goldman Sachs Investment Banking Company.
Attorney Ilsye Dogenas, also known as Ilsye McKeon, signed the mortgage documents on behalf of Chestnut Park Holdings. She is a partner in the real estate team at the New York state law firm Wizards, and “helps the company’s clients in all aspects of luxury home real estate, including buying, selling, construction, renovation and design.”
Dogenas declined to comment on the transaction. Due to Delaware’s strict corporate privacy laws, other information about those connected to the purchasing entity was not immediately available in public records.
Palm Beach Daily News, part of the USA Today Network, was the first media outlet to report on the sale of Sculleys real estate after the sales list was updated on September 2nd.
The two-storey Bermuda style home features 7,906 square feet of living space, both inside and outside. Standing halfway between the Palm Beach Country Club and the northern tip of the island. At the corner of the Mockingbird Trail, the Estate extends the full block between North Ocean Boulevard and North Ocean Way.
The facility includes a private beach cabana in a transferred parcel on the other side of the house.
Sculleys sold the property as a joint trust of the 1214 NOB Recocable Trust, property records show.
In July 2024, the Palm Beach Architecture Committee approved the design of a major renovation and recruitment project at the facility. It was never built and the project would have added a new garage and guesthouse to the vacant lot. The project also included separate gallery buildings that were connected to the main house and garage buildings, with glass passages on either side of the garage building.
It is not possible that the new owner of the property will carry out the project that Michael Perry, Principal of MP Design & Architecture, designed for Skullie, in Palm Beach. Perry had designed improvements to the previous main residence after Skullie acquired it.
Christian Angle of Christian Angle Real Estate was just a list broker for sales that was closed. He had priced $54.9 million when he joined multiple listing services in January. According to MLS, its price fell to $49.5 million in March, with the property landing on June 20th under the contract.
Angle’s sales list describes the home as “a stunning beach house with gorgeous ocean views and rich finishes.”
K2 Realty Inc. broker James Kenny negotiated the opposite angle on sales, MLS shows.
Kenny could not immediately request comment, and Angle declined to discuss the deal.
John Scully led Apple in 1985 when the company’s late co-founder, Steve Jobs, left the company after repeated clashes with Scully and Apple’s board of directors. In 1997, employment returned to lead the Technology Giant.
Before his tenure at Apple from 1983 to 1993, Sculley served as Vice President and President of Pepsico. He has since been involved in many companies, many focusing on communications, technology and healthcare.
Former construction executive Diane Scully declined to comment on the sale of the property on North Ocean Boulevard. She and her husband had their homes kept as their primary residence in the latest Palm Beach County tax roll.
Diane Sculley has been captain of the Admiral Cove community since 1995 and owns an apartment complex on Jupiter, real estate records show.
The interior reminds us of a casual beach cottage, so the house, which just sold, has vast windows with ocean views on Hokuyo Boulevard. In addition to the property’s beach cabanas, owners also have access to the Neighborhood Association’s larger beach cabanas.
The house looks like a one-storey structure when viewed from the east. However, the property slops from east to west, so the view from the back of the house reveals that there are two levels.
The vast second-floor family room, crowned with pitched beamed ceilings, features open glass door walls on a large balcony overlooking the pool and pool cabanas.
When Skullie purchased the Maine residence in 2018, they were represented by Agent Paula Wittman. Paula Wittman was at the time in the old Fite group, today William Ravis South Florida. Whitman negotiated Douglas Elliman’s estate and Agent Payton Smith, opposite Richard Steinberg. The sellers in 2018 were David and Sara Fischel.
Corcoran Group agents Dana Koch and Paulette Koch performed on behalf of the couple in the May 2023 property purchase of 110 Mockingbird Trail by Sculley. The seller was Nancy M. Faris, represented by Aubrey Cooley, an agent of one of her daughters, Brown Harris Stevens.
Darrell Hofheinz is the USA Today network of Florida journalists, writing about Palm Beach real estate in her weekly “Beyond the Hedges” column. He welcomes tips on the island’s real estate news. Email dhofheinz@pbdailynews.com and call 561-820-3831 or @pbdn_hofheinz. Subscribe today to support our journalism.
