A Mediterranean-style house built in 1999 in Palm Beach’s Estate Section has sold for $10.425 million, according to the deed recorded by the Palm Beach County Clerk’s office. The house is in the area that closes to through-traffic when President Donald Trump is in residence at Mar-a-Lago.

Completed in 1999, a Mediterranean-style house and its guesthouse in the Estate Section have been sold for $10.425 million by the couple who bought it more than seven years ago. The price was recorded with the deed by the Palm Beach County Clerk’s office.


The sellers of 110 Clarendon Ave. were retirees Janis "Jan" and Alfred D. Malley, who goes by "Chip."


A Delaware-registered limited liability company named North Fifth LLC was the buyer, the deed shows. The document lists its address in New York City as the 33rd floor of the Park Avenue Plaza building at 55 E. 52nd St. That address is the global headquarters of General Atlantic, an international "growth-equity" firm where William E. Ford serves as CEO.


The house on Clarendon Avenue stands on a lot measuring nearly three-quarters of an acre in the ocean block of a street that closes to through-traffic when President Donald Trump visits Mar-a-Lago, his winter White House.


In 2002, the Malleys paid $9.87 million for the property, country records show.


One lot in from the ocean, the house was built on speculation by Paul Wittmann of Wittmann Building Corp.


The house has six bedrooms and 13,217 square feet of living space, inside and out, property records show. The amenity list includes a foyer with a double "bridal" showcase, two fireplaces, pecky-cypress interior details, a three-car garage, a generator and a master suite with two well-appointed bathrooms, according to the sale listing.


The house is roughly L-shaped, with colonnaded loggias framing the pool and fountain. A loggia also extends from the main house to the guesthouse near the pool. The grounds feature formal English-style gardens.


"The house and gardens catch the eye," Jan Malley told the Palm Beach Daily News in a 2014 article. "The house has all the bells and whistles."


RELATED: Designed for entertaining, Estate Section home has been picture perfect, Malleys say


Agent Lore Smith of Sotheby’s International Realty was the listing agent and had the house priced at $11.795 when it sold. Her latest listing entered the local multiple listing service in June at that price, although records show the Malley first put the house on the market in late 2013 with a price of about $12.5 million; that listing expired in June 2015. Smith declined to comment about the transaction.


Agent Sonja Stevens of Douglas Elliman Real Estate negotiated opposite Smith in the sale reported Friday in MLS. Stevens declined to comment about the transaction or anyone involved in it, and Ford couldn’t be immediately reached.


Ford has more than 25 years of experience "investing in and helping build leading growth companies, including IHS Markit, e*Trade, Priceline and First Republic Bank," according to a biographical sketch on General Atlantic’s website. He joined the firm, which was founded by Charles "Chuck" Feeney, in 1991 and was named CEO in 2007.


General Atlantic invests in four sectors — financial services, health-care, technology and consumer businesses, according to its website. "Since 1980, we have identified disruptive businesses with transformative potential and helped them scale globally. We do this by serving as true partners and leveraging our patient capital, operational expertise and global platform," according to a statement about the company on the site.


Desgined for entertaining


With ties to Kentucky, the Malleys lived in Cincinnati before they moved to a South End condominium in Palm Beach and later bought the house on Clarendon Avenue. The couple founded The Little Red School House, a chain of private early childhood educational facilities with locations in Kentucky, Ohio and Indiana. Online records show the company changed hands in early 2014.


Chip Malley also is a former Ohio car dealer. His wife has been active in animal-rights organizations.


The house on Clarendon Avenue was designed by architect Harold Smith of Smith and Moore Architects with a floor plan suited for entertaining


"It’s a great party house," Jan previously told the Daily News.


Guests tended to gather in the bar area, billiard room and sunroom when the couple entertained or hosted charitable fundraisers at the house, she said.


"People tell us they can’t wait to come here," she said. "Because it has so many (well-placed) glass doors, rooms flow into each other and out to the back yard."


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This story was updated from the original version to include information about the buyer and the deed, which was recorded March 3, 2020, by the Palm Beach County Clerk’s office.


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This is a developing story. Check back for updates.


RELATED: Read more Palm Beach real estate news


dhofheinz@pbdailynews.com


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