Billionaire investor Nelson Peltz and his wife Claudia Heffner Peltz took out another mortgage on their Palm Beach waterfront estate, known as Montsorrel, about a year after borrowing $68.5 million against the house.
The Peltzes borrowed $30 million from Bank of America to be repaid over 15 years, the mortgage recorded Thursday shows. The lender also financed last year’s mortgage and a $40 million loan in 2022.
The estate spans 13 acres across two addresses in Palm Beach. The Peltzes purchased the first property, at 548 North County Road, for $13.5 million in 1987. The following year, they bought 542 North County Road for $3 million, property records show.
The property is worth $307 million, according to the county property appraiser.
The mansion came into the spotlight as the site of Peltz’s daughter Nicola’s 2022 marriage to Brooklyn Beckham, son of celebrity couple David and Victoria Beckham.
Peltz, founder of the activist investment firm Trian Fund Management, is worth about $1.6 billion, according to Forbes. Peltz founded the New York-based firm in 2005. It holds shares in several major companies and has about $8.5 billion in assets under management.
Trian bought a two-story Palm Beach office building at 223 Sunset Avenue for $23 million in 2021. Bank of America financed that property with a $18.4 million loan.
Former fashion model Claudia Heffner Peltz, who is not related to the Playboy founder, is the mother of eight of Peltz’s 10 adult children.
The Montsorrel home was built in 1969 for Anita O’Keeffe Young, sister of artist Georgia O’Keeffe and widow of railroad magnate Robert R. Young, who died by suicide at their mansion in 1958. Montsorrel translates to “mountain of sorrow.”
Some pieces of the home date back to 1965, according to property records. The home was renovated in 1991, records show, and includes two pools and two tennis courts.
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