Il Palmetto, a sprawling Palm Beach estate owned by Netscape co-founder Jim Clark, is going on the market for $137 million.
Landmarked by the town of Palm Beach, the 1930s Italian Renaissance mansion measures about 60,350 square feet with six bedrooms, two elevators and a 50-foot living room with an elaborately carved wooden ceiling, according to listing agent Cristina Condon of Sotheby’s International Realty.
Mr. Clark, who bought the then-deteriorating estate for $11 million in 1999 and spent four years overhauling it, restored details such as a frieze in the living room and etchings on the ceilings of the formal loggias, Ms. Condon said. He created the "Moroccan Room," a mosaic-tiled indoor-outdoor entertaining area. An oenophile who auctioned a portion of his wine collection with Sotheby’s in 2014, Mr. Clark also built a carved limestone wine cellar with space for 20,000 bottles.
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The 5.14-acre property spans the barrier island of Palm Beach, stretching from the Atlantic Ocean to Lake Worth Lagoon. On the ocean side of the property, Mr. Clark built a two-bedroom beach house with a waterfront infinity swimming pool. On Lake Worth, he constructed a two-bedroom boat house with electric trolleys for his two antique speedboats.
Like the Ziff family estate in nearby Manalapan—which has been on the market for $195 million since last year—Mr. Clark’s property boasts an underground tunnel beneath South Ocean Boulevard, allowing residents to access the beach without crossing the road.
Mr. Clark and his wife, Australian model Kristy Hinze-Clark, are sailing enthusiasts known for their 100-foot racing yacht, Comanche, which set a new monohull trans-Atlantic record in July. The Clarks are selling because they are no longer spending as much time in Palm Beach, Ms. Condon said.
Write to Candace Taylor at Candace.Taylor@wsj.com
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