By Kate Hinsche via TheRealDeal.com
Six months after buying it, Don and Katrina Peebles flipped a Wellington house in the gated Palm Beach Polo & Country Club for double their purchase price.
Records show the couple sold the home at 2650 Sheltingham Drive to 3540 Ambassador LLC, a Delaware entity, for $6.2 million. The true buyer is unknown, but the purchasing entity appears to be named for the address of a house former Vice Media CFO Ramin Arani sold to Louise Riggio, wife of Barnes & Noble founder Leonard Riggio, for $8.1 million last month.
Carol Sollack of Engel & Völkers Wellington had the listing, and Casey Flannery of Equestrian Sotheby’s International Realty brought the buyer.
The sale closed during a particularly quiet off-season for Wellington. Because it is an Olympic year, many of the village’s wealthy equestrian residents are busy preparing for competition in Paris, Sollack said. They’re much more preoccupied with their horses than their houses.
“An Olympic horse is worth more than this house,” she said. “Especially one that wins a medal.”
Don Peebles is a developer and founder of the Miami Beach-based Peebles Corporation, where Katrina Peebles is a principal and creative director. The firm’s notable projects include the Bath Club in Miami and the proposed Angels Landing in Los Angeles, and a condo conversion in New York City.
