Paul Tudor Jones II, the billionaire hedge fund manager, closed a massive real estate transaction this week in Palm Beach, Florida. The property was reported to be sold for $71.2 Million by the South Florida Business Journal. This is the third largest sale ever recorded in Palm Beach County. The home is located in what is colloquially referred to as Billionaire’s row, home to the mega-rich of Palm Beach.
The property has an impressive history, having been first developed in 1918 by Abram Garfield, the youngest son of President James A. Garfield. The home, named Casa Apava, was built for the newly married couple Chester C. Bolton and Frances Bingham. The home was named for Frances’ eldest son Charles. The name Casa Apava is rooted in Sanskrit, loosely translating to an interest in water sports.
Paul Tudor Jones II is, according to Forbes, the founder of Tudor Investment Corporation, and he is worth an estimated $4.6 Billion. Casa Apava was purchased by real estate developer and investor Dwight Shar in 2004.
This real estate purchase ranks as the third most expensive single-deed transaction in Palm Beach County:
1. $95 million sale of Donald Trump’s estate at 515 N. County Rd.
2. $77.5 million sale of Sidney Kimmel’s estate at 1236 S. Ocean Blvd.
3. $71.2 million sale to Paul Tudor Jones II estate