The Kennedy’s colossal ‘Winter White House’ in Palm Beach has gone up on the real estate market, and not without a hefty asking price. The famed Atlantic Beach compound is said to be going for $38.5 million. Encompassing 15,000 square feet, the mansion boasts eleven bedrooms, twelve bathrooms and a breathtaking view of the beach.
The Kennedy family sold the property to CEO John K. Castle in 1995, when it went for a mere $4.9 million. Since then, the investment banker has put $6 million into the refurbishment of the oceanfront home, and the results are astounding.
The house was considered to be beyond saving in the 1990s and it was Castle who rescued it from its inevitable demise. He considered it a ‘national sanctuary’, putting time, effort and above all money into restoring the house. He even spent $80,000 getting his hands on some of the Kennedy’s old furniture, such as beds, chests of drawers and their 18 foot dining table. And it was worth it, it seems.
The property was originally built in 1925 for department store tycoon Rodman Wanamaker (of Wanamaker’s) by the resort architect Addison Mizner. JFK’s father, Joseph, then bought it eight years later for $120,000. Jackie and JFK would visit for Easter, Christmas and Spring Break, according to the local shop, spending a lot of time on the beach as well as in surrounding burger joints and the Palm Beach Country Club.
The house was even used for press conferences and presidential meetings. An abundance of history is wrapped up in this $38.5 million property, sitting cosily on the beach front.
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