12540 Seminole Beach Road, North Palm Beach (Google Maps)
The estate of the late coal billionaire Christopher Cline sold another oceanfront North Palm Beach mansion this time for $22.1 million.
Records show Lesslie Ray and Timothy Elliott, as co-personal representatives of Cline’s estate, sold the property at 12540 Seminole Beach Road to George F. McCabe, trustee of a trust in his name. Included in the sale was the lot adjoining the mansion with tennis courts and other outdoor features.
McCabe is the CIO, managing director and founder of Portolan Capital Management, a Boston-based investment management firm.
Cline was the former owner of St. Louis-headquartered coal energy producer Foresight Energy. According to Forbes, he sold a controlling stake in the company for $1.4 billion in 2015.
One of the side-by-side beachfront mansions that belonged to the late billionaire Chris Cline has sold for a recorded $25.7 million, the price recorded Wednesday with the deed for the property in northern Palm Beach County.
Cline, a West Virginia mining magnate, died July 4, 2019, when a helicopter he was riding in crashed shortly after takeoff from his private island, Big Grand Cay, in the Bahamas. The six others on board also died, including Cline’s 22-year-old daughter Kameron.
The property that just sold in Seminole Landing consists of two lots that measure a combined 2.8 acres. The eastern parcel, at 12510 Seminole Beach Road, has an eight-bedroom Mediterranean-style mansion with 17,704 total square feet, property records show. The house faces 200 feet of beachfront.