Society of the Four Arts buys Palm Beach compound for $9M

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May 8, 2020
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As reported in The Real Deal.

The non-profit Society of the Four Arts bought a Palm Beach compound with three houses for $9.4 million.

Society of the Four Arts bought the three houses with a combined size of 6,191 square feet at 434 Seaspray Avenue for $1,518 per square foot, records show. Seaspray Owner LLC, led by Brian Kelly of Boston, Massachusetts of Eastern Real Estate sold the property.

The houses last sold for $8.9 million in March 2017, records show.

The 0.55-acre property has a main house and two guest houses, with a total of nine bedrooms and seven-and-a-half bathrooms. The houses were built in 1925. The property also features a pool and a pool house with a great room, kitchen and two bedrooms.

The Society of the Four Arts was founded in 1936 to offer cultural programming to the resort community of Palm Beach, according to its website. The Four Arts’ programming includes speakers, concerts, films, educational programs and art exhibitions.

Palm Beach experienced a record year in 2019, with two deals closing for more than $100 million each. Most recently, luxury homebuilder Mark Pulte sold a Palm Beach estate at 446 North Lake Way for $33.2 million. This week, a Palm Beach mansion at 720 South Ocean Boulevard formerly owned by John Lennon and Yoko Ono hit the market for $47.5 million.