Beverly Rawlings has sold her oceanfront condominium in Palm Beach for $17.2 million in an off-market transaction. The property, located at 102 Gulfstream Road, was purchased by a Delaware entity named after the address. The identity of the buyer remains undisclosed.
This sale is among the highest-priced condo transactions on Palm Beach island. According to property records, Beverly and her late husband, George Rawlings, bought the unit for $13.9 million in 2016. Built in 2009, the residence measures 4,900 square feet and includes four bedrooms, four bathrooms, and two half-bathrooms.
George Rawlings founded the Rawlings Group in 1977 and was known for developing what became a multibillion-dollar subrogation outsourcing industry within insurance. As noted by a 2018 Associated Press profile that described him as a “bounty hunter” for health insurance companies, subrogation allows insurers to recover funds from third parties responsible for losses they have covered.
The company is based in La Grange, Kentucky. The couple also established the Crab Orchard polo team, which won the U.S. Open three times according to published reports. They were major supporters of Liberty University in Lynchburg, Virginia; George Rawlings’ father was connected to university founder Dr. Jerry Falwell.
After splitting their time between Palm Beach and a farm in Oldham County, Kentucky until George’s death in 2023, Beverly Rawlings continued managing their real estate holdings. In 2016 they sold an equestrian estate in Wellington to former Los Angeles Dodgers owner Frank McCourt for $20 million.
The Palm Beach condo had previously been listed with an asking price of $19.5 million before being withdrawn from market listings this May.
This recent transaction ranks as the third-most expensive condo sale on Palm Beach island to date. The current record belongs to billionaire Robert Kraft’s penthouse purchase at $23.8 million in 2022 (https://therealdeal.com/miami/2022/03/16/billionaire-robert-kraft-buys-palm-beach-condo-for-record-24m/). Last year car dealer Terry Taylor paid $18 million for a large unit on Worth Avenue (https://therealdeal.com/miami/2023/01/12/car-dealer-terry-taylor-buys-worth-avenue-condo-for-18m-in-palm-beach/).
“His methods formed the basis of the multibillion-dollar subrogation outsourcing industry,” stated his obituary.
