Waterfront Palm Beach estate sells for $55M amid demand for turnkey mansions

Gary Smith, the former COO of Red Bull, and his wife, Kaylnn Smith, bought a waterfront mansion in Palm Beach for $55.2 million. Records show the couple bought the house at 1610 North Ocean Boulevard from Bryan and Serena Mattson. Margit Brandt with Premier Estate Properties had the listing, and Todd Peter with Sotheby’s International Realty brought the buyers.  The sellers listed the mansion for $65 million in September, Zillow shows. The sale price works out to $6,794 per square foot, and equates to a 116 percent appreciation in price since its last sale. The Mattsons paid $25.5 million for […]This article originally appeared on The Real Deal. Click here to read the full story.