Luxury contracts picked up in Palm Beach County in the third week of January.
Buyers signed 40 contracts between Jan. 12 and Jan. 18 for luxury properties in Palm Beach County, according to Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $324.7 million in asking dollar volume and averaged 80 days on the market. The previous week, buyers signed 22 contracts totaling $246.1 million.
The report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 70 new listings, and 1,226 active listings on the market.
Of the properties that went pending last week, 31 were single-family homes, and nine were condos. The average asking price for the condos was $9.1 million, or $2,366 per square foot. They spent an average of 84 days on the market.
The average asking price for the single-family homes was $7.9 million, or $1,494 per square foot, and they spent an average of 77 days on the market.
The most expensive listing to go into contract last week was penthouse 2601 at Related Ross’ planned South Flagler House in West Palm Beach asking $39.5 million.
It is likely the same penthouse unit former Apple CEO John Sculley is in contract to buy.
The 28-story, two-tower project under construction at 1355 South Flagler Drive is the most expensive condo development in the pipeline in West Palm Beach. Designed by Robert A.M. Stern Architects and Pembrooke & Ives, the towers are slated to include fitness facilities, a pool, salon, private dining room, catering kitchen, wine room, game room, teen room and playroom.
Sales launched for South Flagler House in 2023, and construction is expected to finish in 2027. Suzanne Frisbie and Liz Callahan with the Corcoran Group had the penthouse listing.
The next most expensive single-family home to find a buyer last week was the 7,600-square-foot waterfront home at 614 Tarpon Way asking $34.5 million.
Records show the seller is the family of the late George Cohon, best known as the first international franchisee of McDonald’s and the man who brought the Big Mac to Russia. He and his wife, Susan Cohon, bought the half-acre property for $3.4 million in 1997, property records show. It was built in 1996 and includes six bedrooms, six bathrooms, one half-bathroom, a pool and 295 feet of waterfront, according to records and the listing.
The property is adjacent to Tarpon Island, the private island Australian billionaire Michael Dorrell bought from spec developer Todd Glaser and his partners for $150 million in 2024.
The Cohons listed the Tarpon home on Jan. 7 and went into contract six days later, Zillow shows. Frisbie has the listing.