Oceanfront Lost Tree Village House Sells for Record $32M

An oceanfront house in North Palm Beach’s Lost Tree Village sold for $31.9 million, making it the most expensive home ever sold in the gated community.

Records show 8:28 Florida Properties, a Delaware LLC, sold the house at 11432 Turtle Beach Road to a trust named for the address and managed by attorney David B. Norris.

Melanie Barre with One Sotheby’s International Realty had the listing. Stephanie Muzzillo of Serhant represented the buyer.

The selling entity is linked to Aspiriant, an Irvine, California-based wealth management firm. The home last sold for $22 million in 2022. It was built in 1971 on 0.8 acres and spans 7,800 square feet, with five bedrooms, six bathrooms and one half-bathroom, records and the listing show. Property records show the kitchen, bathrooms and pool were remodeled in 2022.

The house listed for $39.5 million in March, according to Realtor.com.

The latest sale marks a record for Lost Tree Village, a gated golf community that spans 450 acres and has 524 homes, according to Lost Tree Realty. It is the longtime home of legendary golfer and course designer Jack Nicklaus.

The previous Lost Tree Village price record was set in 2023 when an oceanfront 1-acre estate sold to a trust for $25 million. More recently in July, former Capitol Records CEO Steve Barnett sold his non-waterfront house for $12.9 million. In June, the executive chairman of Hellman & Friedman sold his mansion on the golf course for $18.8 million. Lost Tree Village isn’t the only Palm Beach County market seeing record deals. Earlier this month, Ed Brown, the former CEO of Patrón, sold his mansion in Jupiter’s Bears Club for a record $48 million. And last month, the Cafaro family bought a spec mansion in Stone Creek Ranch for $55 million.