With 5,146 total square feet, the one-story house on Sandpiper was built in 2002. Agent Margit Brandt of Premier Estate Properties had it listed at $12.4 million, and the Maddocks put the house under contract within a month of it entering the market.
Our ‘Beyond the Hedges’ real estate column looks at how one of Palm Beach’s oldest families has been active on the North End real estate scene.
Businessman and property investor Paul L. “Jay” Maddock Jr., who is descended from one of the island’s original pioneer families, has been keeping busy with the Palm Beach real estate paperwork over the past month.
Maddock and his wife, Cythlen “Lynn” Maddock, on Nov. 6 listed for sale, at a price of $39.5 million, the custom home they built in the early 1990s and had homesteaded on a beachside site at 1160 N. Ocean Blvd. on the North End of town.
The Maddocks are downsizing. A little more than two weeks later, a deed recorded showing the Maddocks had bought a house nearby — as tenants in common — for a recorded $12.1 million at 232 Sandpiper Drive.
And the day before the Sandpiper Drive deed posted, another recorded at $6.7 million. It showed the Maddock family’s real estate holding company, Palamad LLC, had sold a North End investment house at 217 Via Linda. Jay Maddock manages that limited liability company, which owns about a dozen properties in Palm Beach County, according to business and property records.
Got all that?
The two-story, Bermuda-style house the Maddocks just listed for sale has seven bedrooms and nearly 8,000 square feet of living space, inside and out. It stands on a lot measuring four-fifths of an acre about a half-mile north of the Palm Beach Country Club. The coastal road separates the bulk of the property from its beachfront parcel, which has 150 feet of shoreline.
The Maddocks paid $900,000 for the property in 1991, courthouse records show.
With a separate pool house, the estate “offers a prime opportunity to update, renovate, or create your custom dream home,” says the sales description for the co-listing held by agents Judge Moss and John Dewing, both of Sotheby’s International Realty.
On Sandpiper Drive in Palm Beach
Moss and Dewing also represented the Maddocks when the couple bought their four-bedroom house on Sandpiper Drive, about a half-mile from the property they just listed for sale. The lot measures a little less than a third of an acre.
With 5,146 total square feet, the one-story house on Sandpiper was built in 2002. Agent Margit Brandt of Premier Estate Properties had it listed at $12.4 million, and the Maddocks put the house under contract within a month of it entering the market. The house has a formal living room, dining room, library and covered loggia facing the pool. Brandt declined to discuss the sale.
The seller on Sandpiper Drive was Christine Fisher Grow, who had owned the house only briefly. She bought it for about $10.13 million in a sale recorded in early August. Grow has deep family ties to Palm Beach and Grosse Pointe, Michigan.
When the house sold in August, agents Liza Pulitzer and Whitney McGurk of Brown Harris Stevens represented Grow and the seller, Megan Maguire Nicoletti.
On Via Linda in Palm Beach
The three-bedroom, Bermuda-style house that Jay Maddock’s Palamad LLC sold on Via Linda was a longtime rental home, the multiple listing service shows. Palamad bought the property in 2015, property records show.
Built in 1955, the house on Via Linda has 2,370 total square feet and stands on a lot of about a quarter acre.
Agent Diane M. Evans of Kiely Real Estate represented the buyer, a Florida limited liability company named 217 Via Linda LLC. That entity is managed by Burk Zanft and Zachary Zanft of West Palm Beach, state business records show. Evans and her clients could not be reached.
Moss, the sole agent on the seller’s side of the Via Linda deal, had put the house on the market in July with a price tag of $7.1 million. He declined to comment about any of the transactions involving the Maddock family.
Jay Maddock is the great-grandson of Henry Maddock, a pioneer-era figure who in 1891 built the lakefront home known as Duck’s Nest, the second-oldest residence in Palm Beach. The Maddock family tree also includes Henry’s son, developer Sidney Maddock, who built the original Palm Beach Hotel, which burned to the ground in 1925. Relocated and rebuilt, the hotel building is today the Palm Beach Biltmore condominium.
Among the Maddock family’s real estate activity in Palm Beach, Jay Maddock was instrumental in subdividing and selling the North End neighborhoods today known as Landmark Estates on Maddock Way and Palama Estates along La Costa Way.
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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.