A new mansion in Palm Beach was listed for $61.5 million, the fourth-highest asking price among all properties listed for sale in the exclusive barrier-island enclave.
Located in a section of Palm Beach called Billionaires Row, the ocean-to-lake house at 1900 South Ocean Boulevard has 200 feet of oceanfront directly across the boulevard and 180 feet of lakefront on the west side of the property.
Construction of the three-level house is nearly complete as the “finishing touches” are applied, according to John P. Dewing of Sotheby’s International Realty, who shares the $61.5 million listing with another Sotheby’s agent, Morgan B. Atkins.
The listing states that the three-story house has 21,305 square feet of air-conditioned space. Its features include a library, a lounge and bar, and a fireplace-equipped family room that leads to a loggia and terrace overlooking the Lake Worth Lagoon.
The house has a guest wing with three bedrooms. The property also comes with a freestanding guest house.
Suzanne Frisbie, president of the Palm Beach Board of Realtors, told the Palm Beach Daily News that the asking price for the never-occupied house is competitive because it is under $3,000 per square foot of air-conditioned space.
Frisbie, an agent of Corcoran Group, also told the newspaper that the house is one of only 19 ocean-to-lake properties in Palm Beach.
Keith Frankel and his wife, Tammy, built the house. They briefly listed it for sale in 2014 with a pre-construction asking price of $65 million.
Frankel, president and CEO of New Jersey-based vitamin manufacturer VitaQuest International, bought the South Ocean Boulevard property in 2007 for $15.9 million. [Palm Beach Daily News] – Mike Seemuth