An oceanfront penthouse that had been in the same family since 1997 has changed hands for a recorded $9.87 million at the Sun and Surf condominium development near The Breakers resort in Palm Beach.

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The penthouse at the Sun and Surf development had been in the Hoffman family since 1997, property records show. The three-bedroom condo has 4,658 square feet of living space, inside and on its broad ...