PHOTO: Jimmy Buffett.PEOPLE
According to Forbes, the laid-back music of musician Jimmy Buffett, which celebrated the Key West lifestyle, led to his accumulation of a $1 billion net worth. Although his journey to wealth was unique, his real estate holdings followed a more conventional path.
Buffett, who sadly passed away on September 1 at the age of 76 due to complications from a rare form of skin cancer, owned properties in Palm Beach, Florida, and another in Sag Harbor, New York, as reported by Barrons.
In Palm Beach, Florida, Buffett, known for iconic songs like “Margaritaville,” maintained a part-time residence. Records indicate that he and his wife, Jane, sold their property at 309 Garden Road for $6.9 million. The house was listed for $7.6 million in October with Denise Hanley of Denise A. Hanley, Inc. Buffett had purchased the three-bedroom, 4,783-square-foot non-waterfront home with a pool in 2011 for nearly $5 million.
This was not the only property Buffett owned in Palm Beach. He also resided at 540 South Ocean Boulevard, which was part of a $43 million sale of three properties to companies linked to an English luxury home-building firm in 2014, facilitated by billionaire philanthropist Jon Stryker. Stryker had acquired 540 South Ocean from Buffett and Jane in 2010.
In Sag Harbor, New York, Buffett had a five-bedroom, six-bathroom, 5,300-square-foot home in Suffolk County, where he spent his final days, according to various sources.
Latitude Margaritaville Retirement Villages, inspired by Buffett’s music and lifestyle, particularly his love for food and escapism, are 55+ communities located in Florida. These cottages and homes are priced starting at over $300,000, as indicated on their website.
Much of Buffett’s wealth was generated through his business ventures, including his Margaritaville hospitality company, Margaritaville Holdings LLC. This company operates locations across the U.S., Canada, and the Caribbean, including South Florida, with numerous hotel chains nationwide. In July, it was announced that a Margaritaville-branded hotel could serve as the centerpiece for a proposed mixed-use project in Riviera Beach’s Marina Village. The project, led by Atlanta-based APD Solutions, in partnership with singer and hotelier Jimmy Buffett, includes a five-story building with 150 rooms and an 875-space parking garage, along with 225,000 square feet of retail and restaurant space. Vaughn Irons, CEO of APD Solutions, presented the development plan during a meeting of the Riviera Beach Community Redevelopment Agency, which owns the expansive 90-acre redevelopment site known as Marina Village. The partnership also involves Sonnenblick Development, based in Pacific Palisades, California.
SOURCE: THE REAL DEAL