Billionaire ‘s Palm Beach Home Now Only $95M After $42M Price Cut

Published: January 27, 2018 | By: American Luxury Staff

Netscape founder Jim Clark recently trimmed the price on his Palm Beach estate by a considerable margin: offered last year at $137 million, Clark has revised the price in hopes of a winter sale, slashing it to $95 million. At $137 million, the property had set a record as the most expensive listing in the history of the upscale community. With its $42 million reduction, it’s still a force to be reckoned with on the market.

Clark purchased the home in the heady days of 1990’s internet browsing; Netscape made a fortune in the late 1990’s, and the savvy computer scientist picked up the property known as ‘Il Palmetto’ about three years after the company went public with a bang, and sold for a billion to AOL. Clark paid just $11 million for it in 1999, and restored it beautifully.

The Italianate-style main residence has historical significance: it dates to 1927, and is a landmark of Palm Beach. It measures a staggering 60,352 square feet.

The most stunning room in the main house? Probably the Moroccan lounge, a full-length wet-bar and entertainment space featuring abundant tile work, motifs and lighting which evoke the romance of the country. Elsewhere in the home, gilt coffered ceilings, inlaid oak floors, Corinthian-style columns, carved wood and stone, and a seemingly endless series of colonnades to connect the various spaces bring an endless supply of surprises.

The property extends to over five acres, a massive lot in Palm Beach, and incorporates formal gardens and landscaping, lawns, walking paths, a koi pond, and a boat dock.

The appearance of Netscape signaled the beginning of the mainstream internet revolution. Clark also co-founded WebMD, and recently launched CommandScape, a building management system which combines climate control, lighting, entertainment and security. His net worth is reportedly north of $2 billion.

8735 January 27, 2018 Real Estate January 27, 2018