Hedge funder Steven Schonfeld is about to close on a deal that will hand him the keys to the most expensive mansion in U.S. history, according to a report.
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The oceanfront property in Palm Beach, Fla., a half-mile south of President Donald Trump’s private club, Mar-a-Lago, will reportedly set the billionaire back just under a little less than $200 million in the off-market deal, the New York Post reported.
The South Ocean Boulevard home has 10 bedrooms, 16.5 baths, a pool and a tennis court. The estate spans roughly 34,775 square feet, according to Zillow, which lists the home as off the market.
Schonfeld would be privy to the 350 feet of oceanfront and around 230 feet of frontage along the Intracoastal Waterway.
The home is owned by beauty mogul Sydell Miller who cofounded Matrix Essentials Inc., a hair and beauty line, the Post reported.
Schonfeld, who has been managing hedge fund investments since 1998, is the CEO and founder of Schonfeld Group Holdings LLC which provides investment management and advisory services through its subsidiaries to clients in the United States.
If and when the deal closes, it will obliterate Palm Beach’s previous record when Broadway producer Terry Allen Kramer's estate sold for $105 million, which also sits on South Ocean Boulevard, according to the Post.
While the deal would make it the most expensive detached house ever sold, according to the post, it is still a far cry away from the roughly $238 million price billionaire Ken Griffin paid for his New York penthouse this year. This set the record for the highest-priced home ever sold in the U.S. according to The Wall Street Journal.