Laura and Lee Munders' oceanfront Palm Beach mansion reportedly sells for $30 million

The Palm Beach real estate train continues to speed its way ahead, with another oceanfront mansion on the island reportedly selling for a staggering sum.

 

While not in the league of the purported $100 million paid last month for Donald Trump's Maison L'Amite by a Russian billionaire, Laura and Lee Munder's 16,000-square-foot spread at 1029 N. Ocean Blvd. is rumored to be under contract for about $30 million, according to island real-estate sources.

 

This figure is close to the $34.5 million asking price for the residence, which is on a parcel measuring well over an acre with 190 feet of ocean frontage.

 

The six-bedroom, 12-bathroom, two-story Georgian-style house, designed by architect John Volk, was built in 1950. It underwent a complete renovation soon after the Munders purchased the property in 1995, said Jeffery Smith, principal of Smith Architectural Group, which was hired to remake and expand the residence.

 

"At the time, we added the oceanfront loggia, a west-facing loggia overlooking the pool and a guest/pool house," Smith said.

 

Listing agents on 1029 N. Ocean Blvd., which was put on the market in late March, are Jim McCann and Ryan Munder of Corcoran. Munder is the son of the sellers, investor Lee Munder and jewelry designer Laura Munder, and served as their agent in the recent $12 million purchase of a lakefront penthouse at the Il Lugano building at 300 Seminole Ave.

 

"We recently closed on that," said Ryan Munder, though confidentiality agreements barred him and McCann from disclosing information about the sale of 1021 N. Ocean Blvd.

 

The identity of the buyer or the buyer's agent also is unknown, and will probably remain confidential even after all the public notices are filed, said both McCann and Ryan Munder.

 

"There are privacy concerns here - that's all I can say," McCann said. The buyer is reported to be an American, although that could not be confirmed.

 

What McCann can comment on is that the sale of 1029 N. Ocean Blvd. indicates how in-demand oceanfront properties are in the Palm Beach market.

 

"They don't stay on the market for too long," he said.