The couple behind the 2020 purchase of a Palm Beach oceanfront mansion developed on speculation has sold the estate for $73 million, nearly double what they paid for it, the Palm Beach Daily News has confirmed.
Brenda and Ric Elias were on the the sellers’ side of the just-closed private deal involving 530 S. Ocean Blvd. A billionaire entrepreneur, Ric Elias co-founded and is CEO of Red Ventures, a digital media company headquartered near Charlotte, North Carolina.
The Eliases took possession of the Palm Beach mansion about five years ago in a deal that closed at $37.25 million , according to records in the multiple listing service. Because of the way that deal was structured, the sales price was never recorded with a deed at the Palm Beach County Courthouse…