The Real Deal Miami

Palm Beach real estate picks up steam

May 25, 2010 11:15AM

1200 South Ocean Boulevard sold in December for $24M

The town of Palm Beach’s real estate market is beginning to show signs
of life after struggling in the first half of 2009. The market began to
rebound last fall, and it began to perform even better starting in the winter. The biggest sale came in December,
when billionaire Malcolm Glazer sold his home at 1200 S. Ocean
Boulevard for $24 million to current Senate candidate Jeff Greene.
April saw the sale of a vacant lot at 947 N. Ocean Boulevard for $19.32
million, following the $17.1 million sale of 340 Polmer Park. One price
bracket that has struggled is the $11 million to $14 million range,
although 822 S. County Road sold in April for $13.5 million. [Palm Beach Daily News]