670 Island Drive

The first home ever built on Palm Beach’s Everglades Island has been sold for $5.72 million, the Palm Beach Daily News reported. The property, which is located at 670 Island Drive and was designed by architect Gustav Maass Jr., has a total of 5,270 square feet. Corcoran’s Rosalind Clarke had the listing since January 2011. “I think it was a fair price, in view of what was happening in the marketplace,” she said. The seller was a limited liability company that had owned the home since 1999. The buyer, a trust, was represented by Christian Angle of Christian Angle Real Estate. “It’s a lovely house with a beautiful view,” Angle said. [Palm Beach Daily News]

Palm Beach saw a 2.17 percent increase in taxable property values in 2011, the Palm Beach Daily News reported. The increase followed three straight years of reductions in property values, according to data from Palm Beach County Property Appraiser Gary Nikolits. The increase was higher than an earlier prediction by Nikolits in April that property values would rise 1 percent. Palm Beach has seen its residential market stabilize of late, with strong demand in its low and mid-range properties. [Palm Beach Daily News]

241 El Vedado Road

A Boston couple has purchased the Twin Banyans estate in Palm Beach for $7.28 million, according to Palm Beach County property records, the Palm Beach Daily News reported. The property, which was built in 1936 for Sue Whitmore, the heiress to the Listerine fortune, is located at 241 El Vedado Road. Brown Harris Stevens agent Carlie Seymour represented Peter and Yoon Doelger in the deal. The sellers were Dana Landry and Bill Moody of Washington, D.C. [Palm Beach Daily News]

Bob Vila

Palm Beach has approved permits for 15 large construction projects in the first half of the fiscal year, the Palm Beach Daily News reported. According to the town’s Landmarks Preservation Commission, 38 projects have received approval, a 41 percent increase compared to 2011. “We’re pleased that we’re seeing an economic rebound,” said Bob Vila, the chairman of Palm Beach’s Architectural Commission, which has seen a 12.5 percent increase in project proposals. [more]

Palm Beach residents Ronald and Judith Berk have tried and failed three times to get the Palm Beach Architectural Commission to approve their plan to build a second story for their home on Tangier Avenue, the Palm Beach Daily News reported. Now, the Berks’ plan is once again going before ARCOM, after a plea for the Town Council to approve their plan despite ARCOM’s objection failed Wednesday. [more]

Susan Fleming

With so many homes underwater, divorcing couples are discovering that their houses may no longer be assets. That’s where Realtor Susan Fleming comes in, as Palm Beach County’s first certified real estate divorce specialist, the Palm Beach Post reported. After making it through her own divorce and the pain of selling her home, Fleming was inspired to help others in her position. Divorcing couples often disagree about the correct course of action regarding their homes, from fighting over how to split the mortgage to whether to sell. [more]

Property values in the town of Palm Beach will rise slightly in 2012, according to data from Palm Beach County Property Appraiser Gary Nikolits. “At this point, we can tell they are in the positive this year, by less than 1 percent,” Nikolits said. “Two years ago, we were at or near the bottom of the market.” The nearly 1 percent increase comes after three straight years of reductions in property values, with a 12.4 percent decrease in 2010. “We’re just bumping along the bottom here,” he said. “If you look at the overall county, some areas are up a little and some are down.” [Palm Beach Daily News]

The Biltmore and S. Daniel Abraham

S. Daniel Abraham, the founder of the Slim-Fast weight loss drink, has paid $4.5 million for a condominium in the Palm Beach Biltmore, the Palm Beach Daily News reported. Abraham already owns several units in the building. The sellers were Victor and Gussie Baxt, who had owned their Biltmore unit since 1994. “It was a gorgeous apartment, and the terraces were planted beautifully,” said Dorothy Levy of Edgewood Real Estate, who represented both sides in the deal along with Edgewood’s Richard Block. Abraham is one of the world’s wealthiest people, according to Forbes. [Palm Beach Daily News]

1326 North Ocean Boulevard

Two Palm Beach homes moved in two days thanks to the same Palm Beach property owner, according to the Palm Beach Daily News. Companies affiliated with Palm Beach’s John Grand bought a home at 212 Nightingale Trail for $3.77 million then sold a home on the island’s North End at 1326 North Ocean Boulevard for $6.45 million two days later. Massachusetts ophthalmologist Stephen Sullivan and his wife purchased the home on North Ocean. [more]

The home of Jacqueline Ferro at 133 Brazilian Avenue in Palm Beach has sold for $6.6 million, the Palm Beach Daily News reported. The 6,100-square-foot home was constructed in 1986 underwent another large-scale renovation five years ago. Corcoran’s Jim McCann represented Ferro in the transaction, although he declined to disclose the name of the buyer’s broker. The buyer was listed as PNC Delaware/Hawthorne as trustee for the trust which purchased the home. [Palm Beach Daily News]