South Palm Beach home sells 34% below initial ask in 2014

Miami /
Jul.July 17, 2016 10:11 AM

A custom-built oceanfront house in South Palm Beach sold for $5.23 million, 34 percent less than the initial asking price two years ago.

Auto dealer Edward F. Napleton and his wife Anne sold the six-bedroom house at 3496 South Ocean Boulevard, just south of the South Palm Beach border with the Town of Palm Beach.

The house, built in 2005, was listed for sale in late 2014 with an asking price of $8 million, which Edward and Anne Napleton subsequently lowered to $6.75 million.

The 7,725-square-foot residence was built on a lot measuring about a third of an acre with 95 feet of frontage on the Atlantic Ocean.

The new owner is Dr. M. Rahat Faderani of Atlas Medical and Orthopedics, a medical practice it three offices in South Florida.

The listing agents, Jim McCann and Cameron Sydenham of the Corcoran Group, represented Faderani as well in the transaction.

The house is one of several developed in the 1950s and located in an enclave that cannot be seen from Ocean Boulevard. [Palm Beach Daily News]  Mike Seemuth


Related Articles

arrow_forward_ios
South Florida residential sales rose in August, but single-family closings fell across the tri-county region. (iStock)
South Florida single-family home sales decline in August as inventory shrinks
South Florida single-family home sales decline in August as inventory shrinks
Todd Glaser flips office dev site to Palm Beach Jewish Center
Todd Glaser flips office dev site to Palm Beach Jewish Center
Todd Glaser flips office dev site to Palm Beach Jewish Center
Jason Capello and 1404 North Lake Way
Hedge funder shells out $31M for waterfront Palm Beach spec mansion
Hedge funder shells out $31M for waterfront Palm Beach spec mansion
Clark Beaty sells oceanfront Palm Beach spec mansion for $64M
Clark Beaty sells oceanfront Palm Beach spec mansion for $64M
Clark Beaty sells oceanfront Palm Beach spec mansion for $64M
Jennifer Hyland joins Corcoran Group in Palm Beach
Jennifer Hyland joins Corcoran Group in Palm Beach
Jennifer Hyland joins Corcoran Group in Palm Beach
InVue CEO James Sankey and the lot at 125 EL Bravo Way (Google Maps)
North Carolina tech honcho buys Palm Beach mansion site for $15M
North Carolina tech honcho buys Palm Beach mansion site for $15M
The five bedroom Palm Beach mansion (Realtor via Douglas Elliman)
SafeCard Services founder sells Palm Beach home for $22M
SafeCard Services founder sells Palm Beach home for $22M
Samantha Curry and Holly Parker (Getty, Parker)
Top Douglas Elliman NY team expands to South Florida
Top Douglas Elliman NY team expands to South Florida
arrow_forward_ios

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

Loading...