The Real Deal Miami

Spec home in Palm Beach commands $5.09 million

Malasky Homes built the four-bedroom, two-story home on a site acquired for $1.15 million

April 09, 2016 01:35PM

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264 Country Club Road in Palm Beach

264 Country Club Road in Palm Beach (Source: Andy Frame for Sotheby’s International Realty.

A new 4,900-square-foot home built on speculation in Palm Beach sold for $5.09 million.

The developer, Malasky Homes, sold the four-bedroom, two-story home at 264 Country Club Road to Dr. Mike Kafrissen and his wife Jill. 

Architect Pat Segraves designed the West Indies-style home with an elevator, a large two-car garage and an outdoor fireplace, among other features.

Jude Moss of Sotheby’s International Realty represented both the buyer and the seller in the transaction. Moss listed the house for sale with an asking price of slightly less than $5.6 million in September.

Malasky Homes, a family business in West Palm Beach, acquired the site of the new home for $1.15 million in September 2013. [Palm Beach Daily News] — Mike Seemuth