R
ichard and Cornelia Thornburgh have sold their waterfront home on Palm Beach's Everglades Island for $25.4 million to 260N Property Limited Partnership, a Canadian entity. The true buyer remains unknown. Whitney McGurk and Liza Pulitzer of Brown Harris Stevens had the listing, while Jim McCann of Premier Estate Properties brought the buyer.
The Thornburghs acquired the property in 2014 for $9 million after an extensive renovation in 2016. They later listed it for $39 million but delisted it over the summer before relisting at a reduced price of $24.9 million in November. The 1955-built home spans 4,200 square feet with seven bedrooms and features 150 feet of waterfront.
The Thornburghs have been active in Palm Beach's luxury real estate market, which has seen significant demand and pricing growth in recent years. However, the market has slowed since peaking in 2022, prompting some sellers to slash prices to move deals. Agents report that the island's high season for real estate dealmaking was kickstarted by President-elect Donald Trump's election in November.
The sale of the Thornburghs' home follows a string of pricey transactions on the island, including a $30.8 million purchase linked to the billionaire Cox family and an entity linked to Kayne Anderson CEO Al Rabil buying a house adjacent to his oceanfront compound for $17.6 million. McGurk anticipates a strong season in the coming months, citing new inventory and a packed town.
