The Real Deal Miami

Canadian buyer pays $6.75M for Palm Beach home

The 6,500-square-foot home went under contract immediately after it was listed for sale

February 06, 2016 02:15PM

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331 Polmer Park Road in Palm Beach

331 Polmer Park Road in Palm Beach (Credit: Andy Frame for the Palm Beach Daily News)

A Canadian family trust paid $6.75 million for a 6,500-square-foot house in Palm Beach on Polmer Park Road, a cul-de-sac just south of the Palm Beach Country Club.

Barrett 2014 Family Trust of Toronto is the buyer. The trust appears linked to Matthew William Barret, a former Canadian banker.

Andrew C. Thomka-Gazik, an agent with Sotheby’ International Realty, listed the house for sale in early December with an asking price of $6.95 million.

“It went under contract in one day,” Thomka-Gazik told the Palm Beach Daily News. “It’s a beautiful property on a highly desirable street.”

The sale to a Toronto-based buyer closed at a time when Canadian demand for South Florida real estate appears restrained by the low value of the Canadian dollar against the U.S. dollar.

The house at 331 Polmer Park Road was built by the late Robert W. Gottfried, and the residence bears his signature Palm Beach Regency architectural style.

Located one house east of the Lake Worth Lagoon, 331 Polmer Park Road has a central loggia overlooking a swimming pool.

The seller, Constance J. Roeder, had paid $1.2 million for the Palm Beach property in 1992. [Palm Beach Daily News] — Mike Seemuth