Jordanian Princess’ Palm Beach home hits market for $17.5 million

TRD New York /
Nov.November 05, 2009 10:04 AM
alternate text1320 North Lake Way in Palm Beach, Fla.
 

From the South Florida Web site:
Jordanian Princess Alia bint Al-Hussein, half-sister of King Abdullah II, ruler of Jordan, is selling one of her posh Palm Beach mansions for $17.5 million, $6.5 million more than she paid for it last year.
In July 2008, the princess and her husband, Mohammad Anwar Farid Al-Saleh, bought the elegant lakefront home at 1320 North Lake Way in Eden Villa for $11 million from diamond mogul Thomas Shane, CEO of Denver, Colo.-based Shane Company, one of the largest direct diamond importers in the country. Shane bought the property in 2004 for $8.26 million, according to property records.
The Corcoran Group, which declined to comment on the listing, touts the 10,320-square-foot house on its Web site as a “classical Mediterranean villa [that] fulfills your every desire in upscale living.”
The seven-bedroom villa has Italian tile floors and 10-foot high ceilings. There is a plush tropical garden near the 60-foot lap pool and cabana, which has a kitchen. In addition, the lakefront property has an 150-foot deep dock “capable of accommodating almost any sea-going vessel including those over 100 feet in length.”
The price tag seems a bit steep in a soft market where market observers generally believe that luxury home prices have reverted to the same levels as 2004 and 2005. And concrete data bears that out.


Related Articles

arrow_forward_ios
49 East 10th Street and Barbara Corcoran (Credit: Google Maps and Getty Images)

Corcoran to shut down office in building partly owned by Barbara Corcoran

Corcoran President & CEO Pamela Liebman (Credit: Corcoran, Getty Images)

Welcome to Queens: Corcoran opens first borough outpost

Corcoran CEO & President Pamela Liebman (Credit: iStock)

Corcoran begins new lead-gen push via Facebook ads

REBNY pivots on politics; Newark sues NYC for sending homeless

REBNY pivots on politics; Newark sues NYC for sending homeless

Clockwise from top left: Andrew Saunders of Saunders & Associates, Cia Comnas of Brown Harris Stevens, Nanette Hansen of Sothebys, Ernie Cervi of Corcoran, Marty Gleason of Corcoran, Ed Reale of Sothebys, Robert Nelson of Brown Harris Stevens and Theresa Quigley of Saunders & Associates

Take that, Zillow: Hamptons firms’ listings site goes live this week

Zillow CEO Rich Barton (Credit: JD Lasica via Flickr, iStock)

Trulia hit with lawsuit over Premier Agent

(Illustration by Charis Tsevis)

Revealed: Corcoran’s “hacked” files

From left: Jed Wilder, Bess Freedman, Richard Grossman, Josh Sarnell and Adam Mahfouda (Credit: Emily Assiran) 

Agents to StreetEasy: The fee is too damn high

arrow_forward_ios