The Real Deal Miami

Off-water townhouse sale priciest on record

The never-occupied, four-bedroom residence in Palm Beach commanded $5.9 million

June 18, 2016 04:00PM

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176 Sunset Avenue, Palm Beach (Credit: Andy Frame via The Fite Group)

176 Sunset Avenue, Palm Beach (Credit: Andy Frame via The Fite Group)

The $5.9 million sale of a never-occupied luxury townhouse in Palm Beach appears to be the highest-priced sale of a non-waterfront  townhouse on record in the town.

The new owner is Dude Holdings LLC. The deed links the limited liability company to billionaire Charles Johnson, chairman of Franklin Resources and Franklin Templeton Investments. The Palm Beach Daily News also reported  that the four-bedroom townhouse at 176 Sunset Avenue has 4,724 square feet of living space, and it is the first townhouse built on speculation in Palm Beach in 13 years.

Brown Harris Stevens agent Liza Pulitzer represented the buyer.

Johnson and his wife Dr. Ann L. Johnson are seasonal visitors to Palm Beach, and the family has been active in the town’s real estate market. Last December, for example, the Johnsons’ daughter Holly Bartlett bought a house at 325 Garden Road in Palm Beach for $7 million.

The listing agents for the townhouse on Sunset Drive were Toni Hollis and Gloria Moré of The Fite Group. They were unavailable for comment.

They had listed the townhouse for sale in September 2014. The initial pre-construction asking price was $6 million. [Palm Beach Daily News] — Mike Seemuth