Dwight Schar, a billionaire, real estate tycoon, and former Financial Chairman for the Republican National Committee, listed for sale his opulent mansion on the beachfront in Palm Beach, Florida.
In 2013, he purchased this 757 square meter home for $11.5 million and is now asking $48.85 million for it. This is one of the most expensive properties in South Florida’s real estate market at the moment.
The three-story five-bedroom house is located on the coast of the Atlantic Ocean, near homes of the actor Sylvester Stallone, the fashion designer Tommy Hilfiger, and the billionaire hedge-fund manager Ken Griffin. The design and construction of the mansion was performed by the extraordinary architect Maurice Fatio who was inspired by the classic Mediterranean style. This made the listed residence a true gem.
In the third quarter of 2022, the Palm Beach real estate market was recovering after a slight decline. Such indicators as the number of luxurious houses that changed hands over that period and the number of available properties in the market have followed a very promising trend.