Richard Byrne is hoping to dial up a fairly lucrative real estate deal on the North Carolina coast. That’s where the veteran telecommunications and wireless executive—best known for cofounding the Raleigh cellphone tower company TowerCo in 2004—is asking $11.4 million for his oceanfront Wrightsville Beach retreat; and should the place go for anywhere near the list price, it would set a record for the area.
Per the Charlotte Business Journal, which first reported the listing, Byrne paid $2.6 million for an oceanfront lot on South Lumina Drive back in 2017, and subsequently enlisted architect Cothran Harris and Jim Murray of Murray Construction to custom-build a Hamptons-inspired residence.
Completed in 2020, the cedar-shingled structure features eight bedrooms and 10 baths in almost 7,000 square feet of refined yet casual living space boasting reclaimed wood floors, luxe designer lighting and walls of glass offering sweeping views of the Atlantic Ocean.
The upper-level living room has a cozy fireplace and walls of glass overlooking the ocean.
Lindsay Fort Photography
Notable amenities include an elevator to all three levels, four HVAC systems with seven zones, a generator and an automated irrigation system, plus a two-car garage that can accommodate up to four vehicles. An additional garage used for storing beach necessities is topped by a guest suite with its own bedroom, bath and living area.
Resting on a parcel spanning a third of an acre, amid a secluded one-way street on the southern end of the coastal community, the inverted floor plan is highlighted by an open-concept great room holding a fireside living room that connects to a dining area. An adjacent kitchen is outfitted with custom cabinetry, concrete and marble countertops, an eat-in island, a Thermador appliance package and full “scullery.”
Elsewhere on this level is a laundry room, secret reading nook for kids, study with a Murphy bed and the aforementioned guest suite accessible via a bridge, as well as a spacious master retreat sporting a sitting area, an ocean-view balcony, a walk-in closet and spa-like bath.
The lower-level game room opens to an al fresco lounging and entertaining patio.
Lindsay Fort Photography
The rest of the bedrooms and an additional living room can be found on the middle floor, while the lower level is spotlighted by a game room that spills out to a covered patio ideal for al fresco lounging and entertaining; and out back, a sprawling grassy lawn hosts a gas fire-pit and private access to 80 feet of beach frontage.
Byrne, who retired in 2018, developed a business model that enabled TowerCo to structure four different holding companies during his 14-year tenure that all sold at different prices. The first two LLCs traded for about $1.7 billion and the next two for around $550 million. Tailwind and Soros Capital owned some 80 percent of the company, with the rest owned by Byrne, his partners and TowerCo employees.
Per CBJ, Byrne is moving because the Wilmington/Wrightsville Beach housing market is registering sale numbers never seen before. “It is a phenomenal time to sell,” he said. “Not to mention we are embarking on some lifestyle changes that are making us put the house up for sale.”
The listing is held by Jessica Pirone and Rebecca Dawson of the Full Circle Group at Nest Realty.
Click here for more photos of 423 South Lumina Avenue.
