West Palm Beach Sale Home Breaks Record at $16 Million

A newly built mansion in West Palm Beach sold for $15.7 million, shattering a record for the most expensive non-waterfront transaction ever in the city.

Property records show 122 Bloomfield Trust, managed by Francis Lynch, bought the 8,600-square-foot property at 122 Blooomfield Drive from an entity linked to financier Mark Marcello. The deal works out to $1,820 per square foot.

Margit Brandt with Premier Estate Properties represented the seller while Lucy Bauer with Brown Harris Stevens brought the buyer.

The home has five bedrooms, seven bathrooms and one half-bath with an elevator. It also includes a private office, wine storage, a 40-foot covered loggia with a sumer kitchen and fireplace, leading to a pool and spa with an outdoor shower, according to the listing.

Marcello, a partner in his father’s Windsor Capital Partners investment firm, acquired the lot through an LLC for $2.9 million in 2024, records show.

Brandt’s office said the sale broke the record for non-waterfront West Palm Beach single-family home deals, which was previously held by a home at 124 Churchill Road that sold for $9 million in 2024.

Brandt told The Real Deal coastal West Palm Beach homes are fetching $1,500 to $2,000 per square foot, a relative bargain compared to Palm Beach island, where she said even non-waterfront properties regularly trade for $3,000 to $4,000 per square foot. The same house in Palm Beach could sell for $25 million to $30 million in the right location, according to Brandt.

The deal reflects a growing appetite for luxury inland properties as buyers seek more space and affordability amid soaring prices and rising insurance premiums in prime coastal locations.

Inland properties set a record last year with 123 transactions totaling $2.12 billion, a 65 percent increase, Bespoke Luxury Magazine reported. Volume was up 41 percent, the publication said.