Historic Belleair Palmer Estate Sells At Auction For $2.3 Million

CLEARWATER, FL — With a winning bid of 2,326,000, the historic Palmer Estate in Belleair has a new owner, an international buyer who now lives in Canada.

The circa 1920 estate rumored to have been the summer vacation getaway of notorious Chicago mobster Al Capone was sold to the highest bidder during an online auction earlier this month.

Previously listed for sale for $3.8 million, the Mediterranean Revival home at 701 Bayview Drive, Belleair, overlooking the Belleair Country Club golf course, was first owned by Earl E. Carley, vice president of the Belleview Biltmore Hotel Company. It was later sold in 1928 to its namesake, Theron Palmer, a rubber industry baron who reportedly entertained a number of celebrity guests at the estate including Capone.

See related story: Al Capone's Rumored Getaway, A Belleair Estate, Up For Auction

The auction conducted by luxury real estate marketplace, Interluxe, began Nov.9 with a minimum opening bit of $1.2 million. After two days of non-stop bidding, the final bid of $2.3 million was accepted. With the added 10 percent buyer’s premium, the sales price is close to $2.6 million.

Interluxe said bidding on the property was aggressive with more than $39 million in total bids placed on the estate during the auction.

The new buyer is expected to close on the property within 30 days.

“I am very pleased with the outcome,” said the seller. “The effort and outcome of the sale exceeded my expectations.”

The property received 982 inquiries, resulted in 47 previews, nine qualified registered bidders and 20 bids.

“This was quite an exciting auction for us,” said Scott Kirk, president of Interluxe. “The level of interest from potential buyers to the amount of bidder activity was incredible. We’re very pleased with the response the property earned from our marketing efforts, and we are expecting a smooth transition to the closing table.”

The estate is on the Belleair Historic Registry. The home has undergone renovations, but still offers the charm of its original architecture and historic integrity.

Interluxe partnered with Gordon Kyle of Premier Sotheby’s International Realty for this auction.