Financier pays $19M for never-occupied Palm Beach house

Source: palmbeachdailynews.com

TL;DR

The story at a glance

Financier Steven K. Hudson, CEO of ECN Capital in Toronto and West Palm Beach, bought a never-occupied house in Midtown Palm Beach for $19 million from the family of the late Malcolm McCluskey. The sellers included widow Angela McCluskey and relatives after Malcolm's death earlier in 2025. The sale was recorded in late December 2025, highlighting activity in Palm Beach's luxury market.[[1]](https://www.palmbeachdailynews.com/story/business/real-estate/2025/12/29/financier-pays-19-million-dollars-for-never-occupied-house-in-midtown-palm-beach-florida/87927256007)[[3]](https://www.bizjournals.com/southflorida/news/2025/12/24/financial-ceo-hudson-buys-new-palm-beach-mansion.html)

Key points

Details and context

The house sits in Midtown Palm Beach, a desirable area near the Intracoastal, on Antigua Lane cul-de-sac. McCluskey, a Palm Beach businessman and real estate investor, and wife Angela planned it as their custom residence, but his death changed those plans, leading to the sale.[[1]](https://www.palmbeachdailynews.com/story/business/real-estate/2025/12/29/financier-pays-19-million-dollars-for-never-occupied-house-in-midtown-palm-beach-florida/87927256007)

Hudson leads ECN Capital Corp., a Toronto-based financial firm with a West Palm Beach office. He has flipped multiple Palm Beach homes before, including townhouses and other properties.[[1]](https://www.palmbeachdailynews.com/story/business/real-estate/2025/12/29/financier-pays-19-million-dollars-for-never-occupied-house-in-midtown-palm-beach-florida/87927256007)[[3]](https://www.bizjournals.com/southflorida/news/2025/12/24/financial-ceo-hudson-buys-new-palm-beach-mansion.html)

Article by Darrell Hofheinz notes the property's new construction status and lack of prior occupancy as key features. No broker quotes or listing details reported in available coverage.[[1]](https://www.palmbeachdailynews.com/story/business/real-estate/2025/12/29/financier-pays-19-million-dollars-for-never-occupied-house-in-midtown-palm-beach-florida/87927256007)

Key quotes

None reported in accessible coverage.

Why it matters

Luxury real estate sales like this signal strength in Palm Beach's high-end market, where new custom homes command premium prices even without occupancy. For investors and buyers, it shows quick liquidity and demand for turnkey properties in prime spots. Watch for further sales by active flippers like Hudson or shifts in Midtown inventory.

What changed

The McCluskey family owned the newly built, never-occupied house as a planned custom residence. Hudson purchased it outright for $19 million after Malcolm McCluskey's death. The sale deed was recorded December 2025.[[1]](https://www.palmbeachdailynews.com/story/business/real-estate/2025/12/29/financier-pays-19-million-dollars-for-never-occupied-house-in-midtown-palm-beach-florida/87927256007)

FAQ

Q: Who bought the house at 433 Antigua Lane?

A: Financier Steven K. Hudson, CEO of ECN Capital of Toronto and West Palm Beach, paid the recorded $19 million. He financed part with a $14.25 million mortgage from CIBC Bank USA. Hudson has bought and sold other Palm Beach properties before.[[2]](https://traded.co/deals/florida/single-family/sale/433-antigua-lane)[[1]](https://www.palmbeachdailynews.com/story/business/real-estate/2025/12/29/financier-pays-19-million-dollars-for-never-occupied-house-in-midtown-palm-beach-florida/87927256007)

Q: Why was the house never occupied?

A: The late Malcolm McCluskey and widow Angela built it as a custom home about a year before the sale. Malcolm died on May 20, 2025, at age 83, changing family plans. It remained unoccupied until sold.[[1]](https://www.palmbeachdailynews.com/story/business/real-estate/2025/12/29/financier-pays-19-million-dollars-for-never-occupied-house-in-midtown-palm-beach-florida/87927256007)

Q: What are the key features of the property?

A: The house has 6,197 square feet, five bedrooms, six full baths plus two half-baths, a pool, fireplace, and three-car garage with guest apartment above. It sits on a 0.44-acre lot with private alley access.[[1]](https://www.palmbeachdailynews.com/story/business/real-estate/2025/12/29/financier-pays-19-million-dollars-for-never-occupied-house-in-midtown-palm-beach-florida/87927256007)[[2]](https://traded.co/deals/florida/single-family/sale/433-antigua-lane)

Q: Who were the sellers?

A: Angela McCluskey (widow), Mary McCluskey, and other McCluskey family members sold the property. They are linked to the late Malcolm McCluskey, a local real estate investor.[[3]](https://www.bizjournals.com/southflorida/news/2025/12/24/financial-ceo-hudson-buys-new-palm-beach-mansion.html)