Palm Beach condo sells for $5.25 million

A couple from Greenwich, Connecticut, bought a Palm Beach condo with ocean views for $5.25 million,  $250,000 below the asking price.

Mark J. and Patricia L. Davies bought Unit 5A on the fifth floor of Dunster House at 360 South Ocean Boulevard.

The sellers are Elinor C. and Ralph Lubow, who were represented by Heather T. Woolems of Sotheby’s International Realty. Woolems had listed the condo for sale with an asking price of $5.5 million in early October, and by October 15, it was under contract.

Paulette Koch and Dana Koch of the Corcoran Group represented the buyers.

The 2,500-square-foot condo has two bedrooms and a den. Its position on the southeast corner of Dunsten House provides ocean views from multiple rooms.

Elinor Lubow, who owned the condo through a trust, had bought it for $500,000 in 1980 from the late Michael Burrows, the developer of Dunsten House. [Palm Beach Daily News] — Mike Seemuth