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The Real Deal Miami

Waterfront home in Palm Beach sells for $8.75M

The trade breaks down to about $3,370 psf
By Amanda Rabines | August 24, 2017 10:30AM

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.