These 6 real estate sales shattered price records in Palm Beach this year
Whew! A rush of big-dollar real estate deals in Palm Beach has made 2021 a year for the record books.
By the end of September, residential sales in this wealthy town had totaled an estimated $3.3 billion, setting a new nine-month record.
And six of those deals broke individual town price records in different property categories.
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Here’s a rundown of the six sales that set the bar higher this year in this wealthy South Florida town sandwiched between the Atlantic Ocean and the Intracoastal Waterway, which is known to locals simply as “the lake.”
A $122.7 million record-setter for a new beachfront mansion
Sold in February, a just-completed — and furnished — beachfront mansion on 2 acres at 535 N. County Road was not only the most expensive single-family home ever sold in Palm Beach, but it also likely set a Florida price record. Sources said about $133 million actually changed hands for the contemporary-style house developed on speculation, although the price documented at the courthouse was lower.
The limited liability company that bought the property was linked to private-equity specialist Scott Shleifer, a partner at Tiger Global Management, according to sources familiar with the transaction. Handling the buyer’s side was broker Ryan Serhant of Serhant, who worked in collaboration with agent Christopher Leavitt of Douglas Elliman Real Estate.
Biggest deal ever: Sold for $122.7 million, seaside ‘spec’ house sets new record in Palm Beach
The North End mansion was sold by an ownership entity linked to its developer, Mark Pulte of Boca Raton-based Mark Timothy Inc. Broker Lawrence Moens of Lawrence A. Moens Associates held the listing and had an ownership stake in the development of the house.
Facing 150 feet of shoreline, mansion stands on 2-acres. The lot was one of three carved from a 6.2-acre estate that former President Donald Trump sold in 2008 — eight years before his election — for a recorded $95 million, in what was then a record-setting deal.
The house and its separate guest house have a total of nine bedrooms and 21,066 square feet of living space, inside and out.
A $106 million record-setter for an ocean-to-lake estate
In June, Dr. Ernst Arnold Langner and his wife, Nataly, sold their custom-built estate at 1840 S. Ocean Blvd. to a trust. The sale of their property on Billionaires Row was the second highest-dollar transaction ever recorded on Palm Beach as well as the most expensive sale of an ocean-to-lake estate on the island that was documented as a single transaction. Moens represented both sides.
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Completed in 2014 with an L-shaped floor plan, the former Langner estate has tropical-inspired architecture, nine bedrooms and 29,422 square feet of living space, inside and out. The house presides over a 2.66-acre lot with about 270 feet of frontage on the Intracoastal Waterway and the same amount of beachfront.
An $85 million record-setter on the lake (and a private island, no less)
In July, Palm Beach’s only private island — 10 Tarpon Island, just east of Everglades Island in the Estate Section — set a lakefront record when it sold in an off-market deal to a real estate investment group headed by developer Todd Michael Glaser.
Frisbie was the lead agent representing the seller. Agent Jim McCann of Premier Estate Properties was the lead representative for the sellers, private investor William Toll and his wife, Eileen.
Big island sale:: Private island sells for $85 million in Palm Beach, buyer says
The island soon was back on the market, with Moens listing it “as is” in October at $125 million and, in a separate listing, at $210 million with a major renovation-and-addition project planned for the 1930s-era house there. The latter price set a record of its own as the most expensive listing in Palm Beach ever to enter the multiple listing service.
In all, the rectangular island has about 1,300 feet of frontage on the Intracoastal Waterway. Built in 1939, the house there has five bedrooms and 12,321 square feet, property records show. The property also has a swimming pool, a private dock and a lighted tennis court, the latter a rarity in Palm Beach.
A $42 million record-setter for a vacant lot on the lake
In February, Matrix Essentials hair-and-beauty products co-founder Sydell Miller sold the vacant lakefront lot that remained after she split apart her ocean-to-lake estate in late 2019 by selling her seaside mega-mansion for a recorded $105 million. The sale of 1440 S. Ocean Blvd. marked the most expensive transaction for a vacant lot ever in Palm Beach.
A trust named after the property’s address was on the buyer’s side of the lot, which measures 1.7 acres and fronts 246 feet of waterfront.
Broker Lawrence Moens of Lawrence A. Moens handled both sides of the sale.
A $29.6 million record-setter for a townhouse facing the sea
A never-lived-in townhouse sold privately in September for a record-setting price at 470 S. Ocean Blvd. on an oceanfront parcel that preciously was the site of the old Charley’s Crab restaurant.
Big townhouse deal: Townhome sold for $29.6M sets record at old Charley’s Crab site in Palm Beach
The townhome was the second to sell of four side-by-side units developed by Palm Beach-based Frisbie Group. Agent Suzanne Frisbie, a principal in her family’s development firm and a real estate agent at the Corcoran Group, represented her family as the seller of the townhouse. She negotiating opposite Brown Harris Stevens agent Briggs Heyniger, whose The buyer was a trust.
With a private pool, the five-bedroom townhouse has 9,938 total square feet, including the ground level, the second floor and a finished basement.
A $17.68 million record-setter for a condominium with wide ocean views
When this oceanfront penthouse, No. 4S at 2 N. Breakers Row, sold on Monday, the three-bedroom unit set not just a sales price record but also a record for the highest amount ever paid per square foot for a condominium in town. The buyer paid $4,250 per square foot for the apartment based on its total square footage of 4,160 square feet.
With wide ocean views, the condo sale broke the price record set in 2013 when a double penthouse sold privately for $17.45 million at lakeside Il Lugano on the other side of the island.
Record-setting condo: $17.68 million penthouse sale sets new record in Palm Beach
The seller of the condo at 2 N. Breakers Row was Shirley Fennell, who acted as trustee of a trust, property records show. Fennell had shared the condo with her late husband, Massachusetts businessman and pharmaceutical entrepreneur J. Richard Fennell, who died in 2015.
On the buyers’ side were Deborah A. Turner as trustee of a revocable trust; and the Turner 2021 Family Trust, for which Pinnacle Bank of Nashville, Tennessee, serves as trustee. Longtime banker M. Terry Turner has served as president and CEO of Pinnacle Financial Partners, the parent of Pinnacle Bank, since its founding in 2000, according to its website.
Before it sold, the condo had set a price record of a different sort when it was listed in September for $19.995 million as the most expensive Palm Beach listing ever in the multiple listing service.
Agent Christopher Deitz of Compass Florida had set a price record of a different sort when he listed the condo in September for $19.995 million, the most expensive listing ever in the local MLS.
Agent Alison Newton of Douglas Elliman Real Estate handled the buyer’s side of the transaction.
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Darrell Hofheinz is a USA TODAY Network of Florida journalist. Help support our journalism. Subscibe today.
dhofheinz@pbdailynews.com
@PBDN_hofheinz
This article originally appeared on Palm Beach Daily News: Which 6 real estate sales broke price records in Palm Beach this year?
