A Brazilian family has sold their Palm Beach compound for $25 million in an off-market transaction. The sellers, through Florida entities Orat LLC and 150 Dunbar Road Inc., are connected to Thais and Deyse Racy. The buyers are Delaware firms Heavenly Partners and Happy Isles Dreams, according to the Palm Beach Daily News.
The properties involved include adjacent homes at 151 Atlantic Avenue and 150 Dunbar Road. Ashley McIntosh and Kendall Corso of Douglas Elliman represented the sellers, while Elizabeth DeWoody with Compass represented the buyer.
Thais and Deyse Racy, originally from Sao Paolo, Brazil, hired local architect Gene Lawrence to design the two homes for seasonal use in the early 2000s. The house on Atlantic Avenue was built in 2001, spans 3,100 square feet with three bedrooms and three bathrooms. Property records indicate that the Racys purchased it for $675,000 in 1998. The Dunbar Road property is a 5,700-square-foot home built in 2002 featuring five bedrooms, five bathrooms, two half-bathrooms, and a pool. Together, both properties cover a total of 0.7 acres.
The Dunbar Road home had been listed last year for $31.9 million but underwent two price reductions before being removed from listing services in May.
This sale adds to a series of high-value transactions on Palm Beach as activity increases ahead of the busy season. Earlier this month, private equity executive Greg Mondre bought a 1.2-acre oceanfront lot for $58 million after acquiring another local property for $31 million earlier this year. In other recent deals, SC Johnson heiress Winifred Johnson-Marquart acquired a landmarked residence for $30 million, and Dutch hedge funder Pieter Tasselar sold his mansion for $29.5 million in an off-market arrangement.
