A Mediterranean-style estate with commanding ocean views and a coveted 100-foot private beach parcel has sold for $26,670,750 on North Ocean Boulevard in Palm Beach. The nearly 8,000-square-foot residence at 240 N Ocean Boulevard, originally listed for $39 million, was sold by Tiffany Cloutier, who had owned the property since 2003 following its purchase by her late husband, entrepreneur and small-business consultant George Cloutier.
Representing the seller were Jack Rooney of Douglas Elliman and Elizabeth DeWoody of Compass, while Dana Koch of Corcoran Palm Beach represented the undisclosed buyer. The home, set on approximately 0.4 acres at the intersection of North Ocean Boulevard and Atlantic Avenue, is ideally located just minutes from the boutiques and restaurants of Royal Poinciana Way and Worth Avenue.
Originally built in 1992 and recently redecorated, the six-bedroom, two-story home is designed to capture the serenity of the sea, with ocean views from key rooms and a tranquil waterside pool. The thoughtful layout includes a north wing with a kitchen, dining room, and guest suite, while the south wing offers a library and an additional bedroom suite. Amenities include an exercise room and a sauna, elevating the home’s appeal as a private coastal retreat.
Reflecting on the sale and the broader Palm Beach market, Rooney noted the unique value of such a property amid economic uncertainty. “In relation to the economy, Palm Beach geographically is one of the more limited markets in the world. With oceanfront property, in particular, there’s not much of it in Palm Beach,” he says. “Many of my sophisticated clients would rather have their funds in a hard asset in a place that has limited supply.”
