James H. Clark, a billionaire who founded and invested in many well-known technology companies, including Netscape and WebMD, put his oceanfront estate in Palm Beach, Florida, back on the market for $95 million Tuesday.
However, the eye-popping price was $42 million lower than the original listing price when it first hit market for $137 million in August 2016 with Sotheby’s International Realty. It was not clear when the last listing was taken off the market.
The most expensive waterfront property ever sold in Australia is a $53.75 million Sydney estate with a championship-sized tennis court, harbor views and its own bar https://t.co/mAgudsky15 pic.twitter.com/twfhqfm7Kl
— Mansion Global (@MansionGlobal) December 19, 2017
Mr. Clark, 73, who has an estimated net worth of $2.1 billion according to Forbes, bought the property for $11 million in 1999, property records show. He then spent four years and millions of dollars to renovate the then-deteriorating estate, The Wall Street Journal reported.
The 5.48-acre estate has a landmarked 1930s Italian Renaissance mansion as its main residence, oceanfront guest houses, a tropical lake with a boathouse and an infinity swimming pool, according to the listing with the new brokerage firm, Lawrence A. Moens Associates.
The brokerage declined to comment on the price reduction.
In total, the property has 44,187 square feet of living space, including 10 bedrooms, 14 bathrooms, a gym, a library and a wine cellar.
Requests for comment sent to Mr. Clark’s new venture, CommandScape, and to his foundation weren’t immediately returned.
He and his wife, Kristy Hinze, a former Victoria's Secret and Sports Illustrated model, own a 300-foot sailing yacht named Athena and the 100-foot racing sailboat named Comanche, according to Forbes.
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Palm Beach had South Florida’s highest priced luxury property during the third quarter of 2017, according to a Douglas Elliman report released in October. Luxury homes in the oceanfront enclave—defined by Douglas Elliman as the top 10% of sales—had a median sales price of $7.7 million, the highest of the eight South Florida areas analyzed in the report.
Another luxury home on the same street as Mr. Clark’s estate is currently on the market for $105 million.