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A 1990s-era oceanfront house ripe for renovation on the near North End of Palm Beach has changed hands for a recorded $26.67 million, a 425% jump in value since it last sold for $5.4 million about 22 years ago.
But the sold price of 240 N. Ocean Blvd. was substantially lower than its last asking price of $34.5 million in the multiple listing service, down from its original price of $39 million when the property entered the market in November 2023.
Tiffany Cloutier sold the 1992 Mediterranean-style house, which her late husband, entrepreneur and small business owner George Cloutier, bought in 2003 and renovated before they were married. He died in 2022.
The six-bedroom house has 7,630 square feet of living space, inside and out, on the northwest corner of North Ocean Boulevard and Atlantic Avenue, directly across the street from the ocean. A third of a mile north of The Breakers resort, the property measures about two-fifths of an acre, including its private beach parcel spanning 100 feet.
The house stands directly across Atlantic Avenue from a custom home built by rocker Jon Bon Jovi, who later sold it to move to a larger oceanfront mansion down the street.
Just sold, a Mediterranean-style house at 240 N. Ocean Blvd. in Palm Beach has sold for a recorded $26.67 million. It was last listed at $34.5 million, which included its beach parcel east of the coastal road.
The deed recorded April 19 identifies the buyer as Dune Boggle LLC, a Delaware-registered limited liability with a mailing address at the house that just changed hands. Because of Delaware’s strict corporate privacy rules, no information about anyone behind buying entity was immediately available in public records.
The front door of the two-story house faces Atlantic Avenue, while the lawn that fronts North Ocean Boulevard has a seaside swimming pool.
The front door of the house faces Atlantic Avenue on the northwest corner of North Ocean Boulevard. The oceanview house just sold for a recorded $26.67 million.
In 2023, Cloutier told the Palm Beach Daily News that she had been reluctant to sell her property.
“I love the house — and the panoramic views of the ocean from both levels are amazing. Where else can you wake up in the morning and see the sunrise from your bedroom windows coming up over the ocean?” Cloutier said. “I’ve looked around the island to get a perspective of where else to live and thought: I still love it here.”
Agent Elizabeth DeWoody of Compass Florida co-listed the house with agent Jack Rooney of Douglas Elliman Real Estate. Their sales listing in the MLS included digitally “staged” photos that showed what the house might look like if its dated interiors were renovated and furnished.
Agents Dana Koch and Paulette Koch of the Corcoran Group represented the buyer, the MLS shows. Dana Koch would not comment about the transaction or his client’s plans for the property.
The oceanfront house at 240 N. Ocean Blvd. is seen in the right foreground. The property changed hands for a recorded $26.67 million.
Central to the floor plan is the double-height living room, which has a wood-burning fireplace with a carved-stone mantelpiece. The living room has exposed trusses supporting the peaked ceiling. Other rooms also feature natural-wood paneled ceilings, some in a tray-style and some with beams and coffers.
The first floor also includes a library and a formal dining room near the kitchen. Two of the bedrooms are downstairs, while the other four are on the second floor.
The floor plan “was designed around the view with the communal living areas overlooking the pool and ocean beyond,” the sales listing said. “Upstairs, the bedrooms are cleverly split with separate staircases offering maximum privacy.”
The two second-floor bedroom suites on the east side of the house look out to the ocean, while the two guest suites on the west side share a sundeck above the two-car garage. The house also has an exercise room and a sauna.
The pool area — tucked between the north and south wings of the house — can be accessed from the living room’s loggia, the kitchen’s breakfast area and one of the first-floor bedroom’s enclosed loggia.
George Cloutier founded American Management Services, a consulting business targeting small- and mid-size companies. He also founded Co-Partner America, described in an online obituary as “a strategic alliance between American Management and the United States Conference of Mayors.”
The former Cloutier house stands on a secluded seven-block stretch of the coastal road between Sunrise Avenue and Wells Road. The neighborhood was off the radar of many Palm Beach residents until 2018, when Bon Jovi and his wife, Dorothea Hurley, bought a lot for a recorded $10 million at 230 N. Ocean Blvd. on the southeast corner of Atlantic Ave. They razed a house there to make way for the Italian-style custom home they built and then sold to a trust affiliated with Rob Posner, CEO of NewDAY USA, for a recorded $19.85 million in July 2020. That same month, the rocker and his wife paid a recorded $43 million for a beachfront mansion at 1075 N. Ocean Blvd.
This oceanfront house built for rocker Jon Bon Jovi and wife Dorothea at 230 N. Ocean Blvd. sold for just under $20 million in 2018. It stands directly across Atlantic Avenue from the oceanfront house that just changed hands for a recorded $26.67 million at 240 N. Ocean Blvd.
