Kim Bepler, a trustee of Fordham University, purchased a waterfront home in Palm Beach for $30 million, according to records from Mar. 17. The property at 751 Island Drive was sold by the estate of Pat Johnson, with her children acting as trustees.
The sale is notable due to its high price and the prominence of both buyer and seller. Bepler is the widow of Stephen Bepler, who was a longtime executive at Capital Group in New York and also served as a trustee at Fordham University before his death in 2016.
Jim McCann and Christopher Hughes Bode of Premier Estate Properties listed the property, while Christian Angle of Christian Angle Real Estate represented the buyer. The house was originally purchased by Richard S. Johnson and Pat Johnson for $2.4 million in 1994. Built in 1988 on 0.4 acres, it features a 4,700-square-foot residence with five bedrooms, five bathrooms, one half-bathroom, a pool, a dock, and 110 feet of waterfront.
Richard S. Johnson founded Flagler National Bank, which was acquired by SunTrust Banks in 1992; SunTrust later merged with BB&T to become Truist Bank in 2019. The Johnsons were also benefactors of the Richard and Pat Johnson Palm Beach County History Museum that opened in 2008. Richard Johnson died in 2012 and Pat Johnson passed away in July last year.
The property had been listed for $35 million last November on Zillow before selling at a discount. This transaction follows several other high-value sales this season in Palm Beach: financier Mark Marcello bought an estate for $36 million earlier this month; Patricia Ann Kahn’s estate sold an oceanfront home designed by Marion Sims Wyeth for $28 million; and Ambrose K. Monell sold his lakefront home for $57 million in February.
Observers note that these transactions reflect ongoing demand for luxury real estate in Palm Beach.
