Palm Beach couple bought waterfront home for $9m, later sold it for $25.4m
A Palm Beach couple sold their renovated lakefront mansion for $25.4 million, significantly higher than their $9 million purchase price in 2014. The property was purchased by a Canadian-registered partnership that already owns adjacent land in the area.
Why it matters
The transaction highlights the high-end real estate market trends in Palm Beach and the activity of international investment entities in luxury US property.
Cornelia ‘Cornie’ Thornburgh and her husband, Richard, have sold their renovated lakefront mansion and guest house on Everglades Island in the Intracoastal Waterway, the Palm Beach Post reported.The house at 550 Island Drive was listed at $24.9 million, according to the multiple listing service. The deed, recorded on Jan. 10, 2025, shows a price of $25.4 million. The buyer is 260N Property Limited Partnership, which is registered in Manitoba and uses a mailing address at an office building in Toronto.Buyer already has land across townThe buyer is not new to Palm Beach. It owns a four-bedroom house at 260 N. Woods Road in the North End. It paid about $6.28 million for the 1977 house in September 2020. In March 2022, it added the empty lot next door at 254 N. Woods Road for $9.25 million.
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