Palm Beach’s priciest pads

A look at the biggest deals this year, and the brokers behind them

Nov.November 03, 2012 07:00 AM

Dmitry Rybolovlev

In the spring of 2008, Donald Trump managed to sell his home in Palm Beach for $100 million to Russian tycoon Dmitry Rybolovlev. But months later, the market crash and the Bernard Madoff scandal left Palm Beach County’s residential market flailing.

Over the next two years, the county would see a smattering of its typical ultrahigh-end sales, particularly in the tony community of Manalapan, but pricing and sales volume were inconsistent.

In 2012, as low- and mid-range home sales began to pick up steam, Palm Beach’s mansions were soon finding buyers of their own — with each of the top 15 sales in the county so far this year topping $7.2 million.

1473 North Ocean Boulevard

While Palm Beach County hasn’t seen the same impact from South American buyers as Miami has, it has been gaining strength from its traditional sectors like second-home buyers from New York, New Jersey and Connecticut, as well as from Continental Europe and Russia.

Countywide, the top sales have been led by the $22.15 million sale of 12210 Banyan Road in North Palm Beach in September, according to data from Condo Vultures.

(Of course, the largest deal this year is expected to be the $41.5 million sale of 1473 North Ocean Boulevard, which sold in August but at press time had not yet closed — and therefore was not yet on the Condo Vultures list. Off-market deals were also not included.)

The seven-bedroom Banyan Road home was handled by K2 Realty’s Gary Pohrer as listing agent and Paul Kaneb as selling agent.

The massive manse has 247 feet of ocean frontage on a whopping four-acre lot (rather sizeable in South Florida, and even more so in Palm Beach).

Coming in second place was the $15.5 million sale of 3101 Aachen Lane in Wellington, which was handled by Illustrated Properties’ Marley Goodman as listing agent and Rodolfo Maya as selling agent. That home is located in the exclusive Palm Beach Polo Club subdivision.

That was followed by the $13.5 million sale of 757 Island Drive in Palm Beach proper, a transaction handled by Linda Gary of Linda Gary Real Estate.

Coming in fourth was the sale of 3205 Olde Hampton Drive in Wellington, which closed for $11 million in August, involving brokers Carol Sollak and Maria Mendelsohn, both of Illustrated Properties, as listing and selling agent, respectively.

The fifth-highest sale of 2012 so far was the $10.35 million closing of the five-bedroom home at 320 Ridgeview Drive in Palm Beach.

Click to enlarge


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
68 Gold Street with CW Realty CEO Cheskie Weisz and 1340 East Bay Avenue (Google Maps)

CW Realty purchase makes TRD’s mid-market i-sales list

CW Realty purchase makes TRD’s mid-market i-sales list
NAR Pending Home Sales Index Up Record 44 Percent in May

TRD Insights: What a record month for contracts says about the US housing market

TRD Insights: What a record month for contracts says about the US housing market
Corcoran's Pam Liebman, Compass's Robert Reffkin and Elliman's Howard Lorber jockey for position atop the resi rankings. (Illustration by Nate Kitch)

Selling the whole city: TRD’s resi brokerage ranking expands beyond Manhattan

Selling the whole city: TRD’s resi brokerage ranking expands beyond Manhattan
Special Report Stimulus Package

What the $2 trillion stimulus does for real estate

What the $2 trillion stimulus does for real estate
Clockwise from left: The Chrysler Building, The Putnam Portfolio, CBRE's Darcy Stacom, JLL's Andrew Scandalios, The Coca-Cola Building and Cushman & Wakefield's Doug Harmon

A tight hustle: TRD’s annual tally of the city’s biggest investment sales firms

A tight hustle: TRD’s annual tally of the city’s biggest investment sales firms
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...