Waterfront home in Palm Beach sells for $8.75M

The trade breaks down to about $3,370 psf

Aug.August 24, 2017 10:30 AM

1280 North Lake Way Inset: Christian Angle

A waterfront home in Palm Beach just sold to an undisclosed buyer for $8.75 million, property records show.

The home at 1280 North Lake Way spans about 2,600 square feet. The trade breaks down to about $3,370 per square foot. Records show the buyer is a company managed by Maura Ziska, a real estate lawyer who represents high-net-worth clients.

The sellers are Eugene Barbato Sr. and his wife Janice, who are listed on the deed under individual trusts and as trustees of the Credit Shelter Trust. The price they paid for the home is not available in records.

The house hit the market in March for $9.875 million, meaning it sold at an 11 percent discount off its asking price, according to Realtor.com. Christian Angle of Christian Angle Real Estate had the listing. He did not immediately respond to a request for comment.

Built in 1938, the four-bedroom, four-bathroom home features tile and wood floors, and a pool with intracoastal views. It sold unfurnished.

A nearby home at 1221 North Lake Way sold to Miami Beach spec home developer Todd Michael Glaser for $5.9 million. The tony town of Palm Beach has been home to a number of billionaires and multimillionaires including fashion designer Tommy Hilfiger, billionaire real estate investor Frank McCourt and billionaire hedge funder Ken Griffin.

Related Articles

670 Island Drive and Paul Shiverick (Credit: Getty Images) 

Hedge funder sells Palm Beach home for $19M

Todd Glaser and the home

Todd Glaser venture sells Palm Beach spec home for $9M

134 El Vedado Road (Credit: iStock)

Developer sells Palm Beach estate for $14M

800 South County Road (Credit: Realtor)

Mizner estate in Palm Beach sells for $24M

Nirka Burns Padilla and Martin Conroy 

Movers & Shakers: Palm Beach broker leaves William Raveis for Douglas Elliman & more

Mark Wilf, and 310 Atlantic Avenue (Credit: Getty Images and Realtor)

Co-owner of Minnesota Vikings sells Palm Beach townhome

Roger Hertog and The Bristol in West Palm Beach (Credit: Getty Images)

Investment honcho pays $14M for condo at The Bristol

225 Indian Road

10th most expensive home sale of the year closes in Palm Beach