Tech giant Chad and Rubenstein PR in front of 106 Hammon Avenue on Palm Beach

Tech tycoons Chad and Doug Clark made their first South Florida real estate investment and paid $ 14.7 million for a boutique vacation rental in Palm Beach.

According to broker Sabra Kirkpatrick, the brothers bought a six-unit building on 106 Hammon Avenue in an off-market transaction. The property is 1 lot from the sea and 1 block from Worth Avenue.

(Provided by Rubenstein PR)

Kirk Patrick and Richard Berman of Brown Harris Stevens represented sellers and buyers.

Clarks is the founder of Splikity software that stores customer passwords and syncs data to devices for input to various websites. Splikity is based in the Greater Phoenix area.

An entity run by real estate investor Jean Bernard Pierre Louÿs has sold a two-story building. Records show that in 2016 we paid $ 5.6 million.

According to Kirk Patrick, the units are well-equipped, each with two bedrooms and two baths, all currently rented monthly. The building was renovated about 15 years ago.

It is shown by property records, built in 1940.

According to Doug Clark, the monthly rent is about $ 12,500.

They are not only planning refurbishments, including new furniture and decorations that accentuate the Palm Beach style, but also give them a “slightly modern feel,” Chad Clark said.

The small, homely style of accommodation provides vacationers to Palm Beach with an alternative to other options on the island, Doug Clark said.

“Usually it’s in a big condominium skyscraper, which really gives the occupants a boutique feel and also feels like a single-family home,” he said. “That’s what I want if I rent a place on the island.”

Clarks said he is also investing in real estate in Arizona and California.

Palm beachHome of famous shopping and dining Worth AvenueNot known as Vacation rental Hotspot. Barrier islands are well known for their mansions owned by celebrities, royalty and Honmachi from a variety of industries.

(Provided by Rubenstein PR)

In recent months, mansions have been trading at spectacular prices.

This month, Jordanian Princess Alia Binto Hussein, daughter of former King Hussein Bintalal, sold her waterfront home on the 1330 North Lakeway. $ 45.4 million..

Also this month, fashion designer Tommy Hilfiger and his wife, Diocreppo Hilfiger, have a home other than the waterfront. $ 12 million, Or 33% more than you paid a year ago. Fox News host and political correspondent Bret Baier and his wife Amy Baier were the buyers.