The Real Deal Miami

Waterfront manse in Palm Beach sells for $11.9M

Property has only been resold twice

August 21, 2015 11:15AM
By Sean Stewart-Muniz

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The mansion at 15 South Lake Trail

The mansion at 15 South Lake Trail

A 1920’s-era waterfront mansion in Palm Beach was just sold to a Northeasterner for $11.9 million.

The mansion and its accompanying guest house occupy an acre of land facing the Intracoastal Waterway at 15 South Lake Trail. Both were built in the 1920’s, and this sale is only the second recorded transaction on the property since then, according to Palm Beach County records.

Its interiors are an eclectic mix of old and modern. Some of the kitchen appliances are updated, and the master bathroom has its own sauna. On the other hand, the home is cooled with wall units and there are exposed ceiling beams throughout. Finishes range from cream colored walls to faux brick in the kitchen and a tropical mural painted near the covered patio.

The main home measures 9,784 square feet with seven bedrooms, seven bathrooms and one half-bath. Its guest home is 2,400 square feet and has four bedrooms and three bathrooms.

The home was sold by Palm Beach resident Inger K. Anderson. She and her husband Harry Loy Anderson Jr. had paid $1.3 million for the home in 2003. That equates to an appreciation of roughly $10.5 million in 12 years.

Harry Anderson, who was once the youngest bank president in the country, according to the Palm Beach Daily News, passed away in 2013.

Now two years later, Anderson sold the home to a company titled PBIsland Life Investments, which is managed by Geraldine Evans of Greenwich, Connecticut.

While some older Palm Beach properties have been marketed as redevelopment opportunities, the home’s listing with the Corcoran Group makes no mention of that possibility. “This home is perfect for casual Florida Living,” wrote agent Kristina McPherson.