What’s on the market: While new record looks unlikely, Palm Beach primed for big deals

Sep.September 09, 2008 11:44 AM

Palm Beach County has seen record-breaking home sales lately, with multi-million-dollar mansions flying off the market.

In June, Donald Trump’s oceanfront estate at 515 N. County Road in Palm Beach sold for $95 million to Russian fertilizer billionaire Dmitry Rybolovlev, setting a local record.

And film producer and apparel mogul Sidney Kimmel’s mansion at 1236 S. Ocean Boulevard sold in April for its asking price of $81.5 million, after spending just 24 days on the market.

“In Palm Beach, these kinds of estates come up so infrequently and that’s why they can command these prices,” said Dana Koch, a broker associate at Corcoran.

So what’s next for the Palm Beach market?

The most expensive Palm Beach home on the market as of last month was 780 S. Ocean Boulevard, with a price tag of $72.5 million.

The home sits across from the ocean and occupies 30,547 square feet with nine bedrooms, 14 bathrooms and a beach cabana.

It was designed by Addison Meisner and has been on the market for one month.

The mansion market is healthy enough for two spec homes to be built by developer Dan Swanson, which now list for the city’s second- and third-highest prices.

A 24,762-square-foot home, listed at $49 million, will sit across from the pricey Kimmel property at 1220 S. Ocean Boulevard.

The second home, at 101 El Bravo Way, is 21,263 square feet and listed at $42 million.

While there aren’t any homes on the market right now that could break Trump’s $95 million record sale, there are plenty of multi-million-dollar mansions available in Palm Beach.

Most of the high-end properties are listed in the $10 to $19 million range.

The National Association of Realtors multiple listing service showed 37 homes in that category.

Eleven homes were listed from $20 to $35 million.

Top five most expensive Palm Beach County homes on the market:

1. 780 S. Ocean Boulevard: 30,547 square feet, $72.5 million

2. 1220 S. Ocean Boulevard: 24,762 square feet, $49 million

3. 101 El Bravo Way: 21,263 square feet, $42 million

4. 801 S. County Road: 12,304 square feet, $35 million

5. 473 N. County Road: 13,539 square feet, $30 million

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