A Palm Beach house that belonged to a late Washington, D.C. developer known as the “King of K Street” topped signed luxury contracts in Palm Beach County last week.
Buyers signed 10 contracts between Sept.1 and Sept. 7 for luxury properties in Palm Beach County, according to a market report from Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $84 million in asking dollar volume and averaged 131 days on the market. That’s up from $67 million in asking dollar volume for 10 homes the previous week.
The team’s report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 46 new listings, and a total of 982 active listings on the market.
All of the luxury properties that found buyers last week were single-family homes, and their average asking price was $8.4 million.
The most expensive home to go pending is the 7,200-square-foot house at 142 Casa Bendita in Palm Beach, asking $22 million. Records show it belonged to the late Bernard Gewirz, a Washington, D.C. developer who died in May. A Washington Business Journal obituary described him as the “King of K Street,” where he developed and acquired 5 million square feet of offices. His firm, Potomac Investment Properties, currently holds a $2 billion real estate portfolio and a $350 million pipeline of projects, according to its website.
He and his wife bought the Palm Beach house for $4.3 million in 2001, records show. It was built on 0.6 acres in 1962 and has four bedrooms, five bathrooms, three half-bathrooms and a pool, according to records and the listing.
It hit the market for $22 million in May, Zillow shows. Christian Angle with Christian Angle Real Estate has the listing.
The second-priciest contract signed last week is for the 7,300-square-foot waterfront spec home at 121 Spinnaker Lane in Jupiter, asking $18 million. It is in the gated Admirals Cove community. Records show the seller is Gregg Kelley, via a Florida LLC named for the address. He bought the 0.4-acre property for $6 million in March, according to property records. The newly completed home has five bedrooms, five bathrooms, two half-bathrooms, a pool, a dock and 100 feet of waterfront, records and the listing show.
It hit the market for $18 million in April, Zillow shows. Rob Thomson with Waterfront Properties & Club Communities has the listing.