A penthouse on Palm Beach's South End is priced at more than $10 million. Here's why.

Darrell Hofheinz, Palm Beach Daily News
·3 min read
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In the main living room of Penthouse 4 at Palm Beach's Bellaria, windows soar 17 feet and capture views of the ocean and the Lake Worth Beach Pier.
In the main living room of Penthouse 4 at Palm Beach's Bellaria, windows soar 17 feet and capture views of the ocean and the Lake Worth Beach Pier.

Condominiums with asking prices that jump the $10 million threshold aren’t unusual in Palm Beach, especially premium apartments in the so-called “in-town” oceanfront buildings of Midtown and the near North End.

But on the South End, any apartment with a price tag of $10 million or more grabs the attention of those who keep track of such things. Those apartments are rare birds among a flock of lower-priced listings in the area south of Sloan’s Curve.

The latest South End condo to break the $10-million-plus barrier is an oceanfront penthouse in the north building at Bellaria, 3000 S. Ocean Blvd. Priced at $10.395 million, it also is the most expensive condo listing on the South End — and for good reason, says its listing agent.

“There’s nothing like it” on the market, says Greg Forest of Sotheby’s International Realty.

To start with, the size of the apartment is notable, with four bedroom suites and nearly 8,000 total square feet. There are 4,951 square feet of interior space and another 2,823 square feet on the “wedding reception”-size terraces, as Forest describes them.

The apartment also has 14-foot ceilings in many of the rooms along with 17-foot ceilings in the main living area.

With nearly 8,000 square feet of living space, inside and out, a new-to-the-market beachfront condominium is priced at $10.395 million at Bellaria, 3000 S. Ocean Blvd., in Palm Beach.
With nearly 8,000 square feet of living space, inside and out, a new-to-the-market beachfront condominium is priced at $10.395 million at Bellaria, 3000 S. Ocean Blvd., in Palm Beach.

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Don’t forget the views. In the larger of the two living rooms, floor-to-ceiling windows frame the Atlantic and the Lake Worth Beach Pier, which is immediately adjacent to Bellaria. Rooms to the west look out to the Intracoastal Waterway and the bridge to Lake Worth Beach.

And because the penthouse is in the northernmost of Bellaria’s two buildings, it affords unobstructed views to the north. “You’re kind of up there in the sky. There’s so much light, because there’s nothing that impedes it,” Forest adds.

The main living area has an adjacent formal dining area, and the layout also includes an office. Other features include a kitchen with top-of-the-line appliances and a work island. The master suite’s bathroom has an ocean view.

At Bellaria on the South End of Palm Beach, Penthouse 4's private terraces measure 2,823 square feet and look out to the Atlantic.
At Bellaria on the South End of Palm Beach, Penthouse 4's private terraces measure 2,823 square feet and look out to the Atlantic.

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Bellaria, meanwhile, is undergoing a renovation of its common areas. Among its amenities, the development — completed in 2006 — offers tennis and pickleball courts and a pool-and-spa area.

The penthouse is owned by Caribbean Pearl LLC, a limited liability company managed by Invigo Worldwide Limited, which has ties to Miami and to Auckland, New Zealand, property and business records show. Caribbean Pearl paid a recorded $6.5 million for the penthouse in May 2020, a sale in which Forest acted for the buyer opposite listing broker Christian Angle of Christian Angle Real Estate.

The seller in the 2020 deal was a revocable trust in the name of hedge-fund manager Steven Schonfeld.

Schonfeld and his wife, Brooke, sold the penthouse a few months after they set what was then a Florida residential price record by paying hair-and-beauty mogul Sydell Miller a recorded $105 million for the oceanfront portion of her Palm Beach sea-to-lake estate at 1415 S. Ocean Blvd. The actual amount that changed hands in the Miller sale — $111 million — exceeded the price documented at the courthouse, sources at the time confirmed to the Palm Beach Daily News. Angle and broker Lawrence Moens of Lawrence A. Moens Associates had roles in the sale.

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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. Help support our journalism. Subscribe today.

This article originally appeared on Palm Beach Daily News: Condo's price tag tops $10M, a rarity on Palm Beach's South End