Hedge Funder Steven Schonfeld Buying Palm Beach Mega-Mansion


Matrix cofounder Sydell Miller reportedly is selling her Palm Beach estate.


Hedge fund manager Steven Schonfeld is said to be buying the Palm Beach mega-mansion owned by Sydell Miller, cofounder of hair care company Matrix Essentials.

The estate wasn’t listed on the open market, so until the sale closes and the deed hits the registry, there’s no public record. But, plenty of people think they know.

According to the New York Post, Schonfeld is paying almost $200 million. But the Palm Beach Post and the Palm Beach Daily News said their sources put it closer to $100 million. They all agree the deal is expected to close by the end of the year and the price likely will beat the $105 million record set earlier this year by the sale of Broadway producer Terry Allen Kramer’s estate that’s within sugar-borrowing distance.

Schonfeld, who runs New York-based Schonfeld Strategic Advisors, did not respond to an email seeking comment.

Miller’s mansion, known as La Reverie, is one of the largest in Palm Beach – even bigger than President Donald Trump’s Mar-a-Lago, half a mile away. The county assessor’s records puts Miller’s house at 84,626 square feet and the main building of Mar-a-Lago at 76,821 square feet.

However, La Reverie is a single-family home and Mar-a-Lago is a members-only club with guest rooms.

Miller’s home has 10 bedrooms, 19 bathrooms, and a mix of hardwood and marble floors, the county records show. There are tennis courts, an outdoor pool, and an ornate fountain at the front of the home.

Taxes for the three-story mansion in 2019 are $995,210, according to the Palm Beach County records.

The estate sits on land that stretches from the Atlantic Ocean to Intracoastal Waterway. At the back of the mansion, a manicured lawn leads to an oceanfront beach that’s 350 feet long.

Miller finished building the French-style home in 2001 after buying and combining three lots – two on the ocean and one across the street on the Intracoastal Waterway – for a total of about $26 million, according to the P alm Beach Post.

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