Yelvington family sells longtime lakeside home in Palm Beach for a recorded $39 million

A Mediterranean-style estate that hadn’t changed hands since 2008 — the year after it was completed on a lakeside lot in Palm Beach’s Estate Section — has sold for a recorded $39 million.

The estate at 10 Via Vizcaya was sold by a Florida limited liability company named after the property’s address and managed by siblings Darlene Yelvington and Gary Yelvington, according to the deed recorded May 6. Their late parents — Daytona Beach businessman Conrad Yelvington and his wife, Margaret — were the original owners and bought the house after it was developed on speculation.

The buyer was a Delaware limited liability company named Sugar Magnolias LLC. The entity’s mailing address on the deed is in care of Corient, a wealth-management firm in Seattle that provides so-called “family office” services. Because of Delaware’s strict corporate privacy laws, no other information about the buyer was immediately available in public records.

With 10,720 total square feet, the six-bedroom house stands on an irregularly shaped double lot of about two-thirds of an acre in a tucked-away Estate Section neighborhood off South County Road. The property has 117 feet of frontage on the Intracoastal Waterway with a 100-foot dock.

Listing agent Heidi Wicky of Sotheby’s International Realty declined to discuss the sale. She last had the estate priced at $41.95 million, down from its original $45 million price tag in the multiple listing service.

“The house is beautifully sited on the property,” Wicky said when the house entered the market in late 2022. “Of the houses on that (stretch of) lakefront, it’s the most private. You can't see the house from the street — and it's gated.”

Agent Margit Brandt of Premier Estate Properties acted on behalf of the buyer. She declined to discuss the sale or her client. The sale closed April 30, the MLS shows. Darlene Yelvington and her brother signed the deed as co-managers of 10 Via Vizcaya LLC.

Conrad Yelvington founded companies specializing in materials distribution and aviation in Daytona Beach. His children have been involved in the family businesses, according to business records and websites for Yelvington Jet Aviation, Conrad Yelvington Distributors and Yelvington Aviation Management, among others.

Margaret Yelvington died in 2019, the year after her husband’s death.

Via Vizcaya is a quiet street that makes a loop to the west from South County Road, near the intersection of South Ocean Boulevard. The estate is a little more than a mile north of former President Donald Trump’s Mar-a-Lago Club.

The two-story house includes a guest suite above the three-car garage. Interior details include arched doorways, rooms with high ceilings — many with exposed beams — and a stair hall with a prominent staircase. There’s also a butler’s pantry, a wood-paneled library, wine storage and a media room, according to the sales listing.

Facing the Intracoastal Waterway at the rear of the property is an octagonal open-air loggia with a beamed ceiling, a fireplace and arches that frame views of the waterway. The loggia also overlooks the lakeside swimming pool and whirlpool spa. A concrete dock juts into the lake from the seawall.

On the main wing of the house, a different poolside loggia opens into the family room.

Architect Roger Janssen of Dailey Janssen Architects designed the house, building records show. It was one of three residences developed on Via Vizcaya by Malasky Homes, a West Palm Beach business that was headed by the late Donald Malasky and is today run by his two sons.

Property records and the MLS don’t show what Conrad and Margaret Yelvington paid Malasky Homes for the home, apparently because of the way the deal was structured. Wicky acted for the couple when they bought the house but declined to discuss that sale. The estate was listed in the MLS in 2008 with a price of $16.95 million.

Agent Jim McCann confirmed he represented Malasky Homes in the transaction when he was with the Corcoran Group. He has since joined Premier Estate Properties.

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This is a developing story. Check back for any updates.

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Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call 561-820-3831 or tweet @PBDN_Hofheinz. Help support our journalism. Subscribe today.

This article originally appeared on Palm Beach Daily News: Family gets $39M for Palm Beach house built in 2007 on lakeside site