The waterfront home on sale is associated with the estate of the late James V. “Jimmy” Tigani Jr., a prominent liquor distributor, as indicated by records. The proud new owner of this property is Harvey Jones, an entrepreneur and investor who is also an avid sailor and owns properties in both Palm Beach and Nantucket, Mass. Unfortunately, Jones was unavailable for immediate comment on the рurchаse.
This exquisite estate was listed for $55 mιllιon back in April, under the representation of Mark Bennett from the Corcoran Group. Interestingly, Bennett, who had a long partnership with Tigani and lived in the house until recently, is now moving to Admirals Cove, a gated community in nearby Jupiter. Tigani, whose family owns the N.K.S. liquor distribution company in Delaware, acquired the property in 2002 and invested significantly in renovations before his passing at the age of 85 last year.

Sotheby’s International Realty agents, Frances, and Todd Peter, represented the buyer in the transaction but opted not to comment on the deal.

Originally constructed in the 1970s, this magnificent home is situated on the north end of Palm Beach, boasting about 130 feet of frontage along the Intracoastal Waterway. Sitting on approximately one acre of land, the property offers a pool, a concrete deep-water dock, and deeded beach access.

Bennett shared that the couple spent approximately $4 mιllιon on the renovations, completely revamping the approximately 8,100-square-foot Regency-style house, which now features four bedrooms, two kitchens, two offices, and a billiards room. One striking feature of the house is the presence of four bars, strategically located in the living room, kitchen, billiards room, and cabana—a reflection of Jimmy’s fondness for entertaining and telling jokes, given his background in the liquor business.

The new owner, Harvey Jones, has a background in the computer industry and is currently the managing partner of Square Wave Ventures, an investment firm. Additionally, he serves on the board of chip maker Nvidia, as listed on the company’s website.

Palm Beach experienced several significant real-estate closings during the spring, including the record-setting рurchаse of a waterfront property for $170 mιllιon by luxury car dealer Michael Cantanucci. However, like other luxury markets, Palm Beach has witnessed a slowdown in home sales since last year. According to data from the real-estate appraisal firm Miller Samuel, luxury home sales dropped 38.9% year-over-year during the second quarter, with the median sale price falling by 23.1%.
Bennett noted that the ultraluxury market rеmаins strong, but the intense competition has notably decreased.