A trust affiliated with Janice McNnair and her late husband, Robert McNair, sold the unit, No. 5D at 425 Worth Ave., to Mary Kniffin Snyder, the deed shows.
Palm Beach can say goodbye to one of its billionaires, now that Janice S. McNair, owner of the Houston Texans football franchise, has parted with her Worth Avenue co-operative apartment in The Villas for a recorded $5.295 million.
Houston-based McNair is the widow of Robert McNair, who was known as Bob. She inherited his majority stake in the National Football League’s Houston Texans after he died in 2018.
Mary Kniffin Snyder was the buyer in the sale recorded Monday, courthouse records show.
On the west end of the town’s most famous street, the three-bedroom unit — No. 5D at 425 Worth Ave. — has 2,762 square feet of living space, inside and on its lakefront balcony, records show.
Broker Linda Olsson of Linda R. Olsson Inc. Realtor had listed the apartment at just under $5.6 million March 21 and had it under contract within a month, according to record in the Palm Beach Board of Realtors Multiple Listing Service.
Agent Grace Brown of Brown Harris Stevens negotiated for the buyer. Brown and Olsson declined to comment about the sale. McNair couldn’t be reached.
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Olsson’s sales listing described the apartment’s dramatic views, which include the Intracoastal Waterway and The Breakers. The listing also mentioned the unit’s “fabulous dining terrace” and the “white-glove” service offered by the staff at The Villas.
With six floors and 27 units, The Villas was built in 1971 with a slightly curved facade facing the cove that fronts The Everglades Club.
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Forbes estimates McNair’s net worth at $4.1 billion.
A private investor, Bob McNair’s fortune stemmed from his $1.5 billion sale in 1999 of the energy company Cogen Technologies to Enron, Forbes has reported. He co-founded the Houston Texans with his widow, who serves as its senior chairwoman, according to the team’s website.Your stories live here.Fuel your hometown passion and plug into the stories that define it.Create Account
In April, McNair’s net worth ranked her 26th among 48 billionaires who had residential ties to Palm Beach in an analysis by the Palm Beach Daily News of data compiled by Forbes’ for its annual list the world’s wealthiest people.
McNair sold the apartment as trustee of the RCM/JSM Trust, the name of which includes her initials and her late husband’s.
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The Villas saw its most expensive sale ever this year when Penthouse B — on the floor above the apartment that just changed hands — sold for a recorded $8.9 million, as previously reported by the Palm Beach Daily News.
A trust in the name of John F. Keane sold the penthouse, represented by agent Bill Yahn of the Corcoran Group. The deed recorded in April showed a trustee for the Williams Florida Land Trust bought that four-bedroom penthouse with 4,800 square feet of living space, inside and out. Agents Lisa and John Cregan of Sotheby’s International Realty handled the buyer’s end of the deal.