P
aul L. "Jay" Maddock Jr., a Palm Beach native and member of one of the island's original pioneer families, has been busy with real estate transactions in recent weeks. Maddock and his wife, Cythlen "Lynn," listed their custom-built North End home at 1160 N. Ocean Blvd. for $39.5 million on November 6.

    The couple is downsizing after owning the property since they built it in the early 1990s. The seven-bedroom, nearly 8,000-square-foot Bermuda-style house sits on a four-fifths-of-an-acre lot with 150 feet of shoreline and features a separate pool house.

    Just two weeks later, the Maddocks purchased a nearby home at 232 Sandpiper Drive for $12.1 million as tenants in common. The one-story house has five bedrooms, 5,146 square feet of living space, and was built in 2002.

    On November 5, Jay Maddock's real estate holding company, Palamad LLC, sold a North End investment property at 217 Via Linda for $6.7 million to a Florida limited liability company managed by Burk Zanft and Zachary Zanft of West Palm Beach. The three-bedroom house was built in 1955 and had been a rental home.

    Jay Maddock is the great-grandson of Henry Maddock, who built the second-oldest residence in Palm Beach, Duck's Nest, in 1891. His family has a long history of real estate development on the island, including subdividing and selling neighborhoods like Landmark Estates and Palama Estates.