Palm Beach real estate: Five newer listings boost buyers' options between $29M and $40M

Deeper-wallet house-hunters in Palm Beach for Presidents Day week have found a surprising number of listings in the price range that starts at about $29 million and tops out at just under $40 million.

Since the beginning of January, the number of single-family home listings in that price range has seen a significant jump — to 16 total  — in the Palm Beach Board of Realtors Multiple Listing Service, according to an online search this week.

“I think it’s exciting for what you can get in that price range, particularly for waterfront properties,” said broker John Pinson, president of the Palm Beach Board of Realtors and principal of his eponymous real estate firm.

Many of those waterfront houses, however, are in need of renovations or are considered tear-downs for replacement. But shoppers also will find one newly built home among the latest additions to the pack.

Waterfront or not, here’s a look at newer additions to the MLS priced between $29 million and $40 million. The owners’ names here were gleaned from property records, and none of the listings was previously reported by the Palm Beach Daily News.

584 Island Drive, $39.999 million

This newly built house on the east side Everglades Island in the Estate Section started out as a custom home but then morphed into a house developed on speculation by its as-yet-unidentified owners.

The six-bedroom house with 7,852 square feet of living space, inside and out, was designed in a Dutch Colonial-style by architect Roger Janssen and built by Sabatello Cos.

The property is the only new home being marketed on Everglades Island and features views of Everglades Club’s golf course and a stretch of the Intracoastal Waterway. The outdoor areas include four second-floor terraces off the bedrooms and two covered loggias facing the pool and whirlpool spa.

With a dock, the lot measures two-fifths of an acre with 100 feet of water frontage and is the third property north of the Island Road bridge.

Agent Margit Brandt of Premier Estate Properties holds the listing, with agent Bill Yahn of the Corcoran Group also involved.

The house is owned by a Florida limited liability company named Shamrock Island LLC. Brandt declined to discuss the property or anyone connected with its ownership.

748 Island Drive, $38 million

Also on the east side of Everglades Island, this 1950s-era, one-story house was designed by Modernist architect Byron Simonson and is being marketed as a renovation or a tear-down. Measuring about a half-acre, the lot is the second one from the southern tip of the island.

The property overlooks open water to deliver “spectacular long views down the Intracoastal,” according to the sales description prepared by Sotheby’s International Realty agents Lisa and John Cregan, who declined to discuss the listing.

For those who might want to renovate, the Cregans’ listing says the four-bedroom house is in “excellent condition.” With 5,033 total square feet, the layout includes a library and an interior courtyard viewed from several rooms. The high-ceilinged living room runs the length of the house to capture the water views.

In the same family since 1980, the property is owned by Carroll M. Carpenter, public records show.

1265 N. Lake Way, $37.95 million

Marketed with town-approved plans for a new house, a lot of about four-tenths of an acre this week entered the market on the far North End.  Work has already begun to lay the foundation for the house.

The property at the intersection of Kenlyn Road has 90 feet of lakefront with water deep enough to accommodate a sizable yacht.  Like other properties in the neighborhood, the bulk of the land is separated from its deeded lake parcel by the Lake Trail walking-and-bicycling path. At the opposite end of Kenlyn Road is access to the beach.

The Architectural Commission approved the plans for two-story house in September. With an L-shaped floorplan that wraps around the pool area, the house was designed by Daniel Menard of LaBerge & Menard.

Listing agent Chris Leavitt of Douglas Elliman Real Estate described the property as “really special.”

The property has been owned since June 2022 by a limited liability company named after the property’s address, public records show.

150 Dunbar Road and 151 Atlantic Ave., $31.85 million

Near the ocean, this compound encompasses two lots that together measure nearly seven-tenths of an acre —with a relatively high elevation — between Dunbar Road and Atlantic Avenue on the near North End.

Both of the contemporary-style residences on the property were designed by the late Palm Beach architect Gene Lawrence and built in the early 2000s for the Racy family of Brazil, who still own the estate through a limited liability company, property records show

In all, the houses offer nine bedrooms and 11,219 square total square feet. They are separated by a heated lap pool, which they share.

Designed around an atrium, the primary residence on Dunbar Road has several living spaces and five bedrooms, including a second-floor apartment. Like the main house, the smaller four-bedroom guesthouse has its own entrance into the estate. The rooms are generously sized with high ceilings throughout.

Douglas Elliman Real Estate agents Ashley McIntosh and Kendall Corso are co-listing the property, which the sales description calls “an exceptional opportunity for buyers to either renovate or build new.” McIntosh declined to comment.

1333 N. Lake Way and 250 Angler Ave., $29.5 million

Another North End compound comprises a little less than acre and extends along the block between North Lake Way and Angler Avenue.

The house on North Lake Way — built in 1956 — stands at the corner of Ocean Terrace, while the one facing Angler Avenue is immediately to its north. The latter was built in 2015 and together, the two properties form an L-shaped estate.

The buyer would have access to a community beach cabana at the east end of Ocean Terrace, and there’s also beach access at the end of Angler Avenue. An entrance to the Lake Trail is near the property.

In all, the houses have a total of seven bedrooms and 8,533 square feet of living space, inside and out, with garage space for four cars. The property’s amenities include a 75-foot heated lap pool and a lawn space — large enough for another building — on the southeast corner of the property.

The aforementioned Brandt holds the listing but declined to comment about the compound. But her Premier Estate Properties’ sales listing says a buyer could “move right in and enjoy, or to build a new legacy, generational compound.”

Each property is owned by a trustee for a trust in the name of Douglas and Suzanne Durst.

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This story was updated from a previous version.

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Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call 561-820-3831 or tweet @PBDN_Hofheinz.

This article originally appeared on Palm Beach Daily News: Palm Beach properties: New listings from $29M to $40M give MLS a boost