Ramshackle West Palm Beach home selling for $1.1 million, and what's up with Banyan Cay?
Welcome to The Dirt! I’m real estate reporter Kimberly Miller with the latest developments in the sizzling market.
Palm Beach Gardens is hopping with development, and not some strip mall or a 400-lane gas station, no a new hospital, golf course and luxury homes all connected by a yellow-brick road with trumpeting cherubs and the sweet scent of night-blooming jasmine wafting 24/7. So for all you beach snobs (me) who think the world ends west of I-95, surprise! There's a new slather of concrete to explore, brought to you by pandemic migrants and Avenir. Northern Palm Beach County reporter Lianna Norman breaks it down for you.
East of I-95, a ramshackle 1/1 listed in West Palm Beach for $1.1 million must, literally, be sitting on a gold mine, right? There's no waterfront, no pool, no landscaping to speak of. Find out the unique situation on Avila Road that has Realtors thinking they can get seven figures.
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And, once again, Palm Beach Post senior business reporter Alexandra Clough saves our bacon, or at least saves us from reading scores of court filings, in her explanation of what the heck is going on at Banyan Cay. So let's just get to it before Chat GPT and Cyberdyne Systems takes this whole world newsletter over and I'm out of a job.
How Chapter 11 might finally get Banyan Cay built
Banyan Cay Resort & Club has been languishing for a long time like an unfinished piece of art, or a forsworn paradise in the heart of West Palm Beach. But Chapter 11 might just jumpstart the construction machine if a buyer comes along. And there just so happens to be one! But are the two sides right for one another? Can they get along after the vows are made and the champagne is guzzled?
"Time is of the essence," Banyan Cay lawyers wrote.
Three West Palm Beach homes for sale in suburban El Cid for $1.1 million each
Whether you prefer to call it suburban El Cid or unincorporated Prospect/Southland Park, three homes for sale on Avila Road in West Palm Beach are rubbing elbows with a couple of prized historic districts but aren't quite in the historic districts. That means they can be torn down free from the prying eyes of the city's historic preservation board, and that's why they cost $1.1 million each.
Actually, the historic preservation board does a yeoman's job of trying to, well, preserve history, but what if you could be a member of the exclusive Everglades Club but not have to pay dues? Avila Road is kind of like that. Maybe your name isn't on the club's newsletter list, but, still, I'm in!
WeWork CEO swaps Surfside condo for $5.3 million Palm Beach penthouse
Is WeWork CEO Sandeep Mathrani just slummin' it in Palm Beach after selling his home north of Miami Beach for $21 million and buying on the island for $5.3 million? The new Palm Beach digs has direct oceanfront access and a penthouse with a cabana and four bedrooms and an 1,100-square-foot wraparound balcony, sooooo...probably no slumming going on there.
And the building is directly south of the Palm Beach Par 3 Golf Course, which is great if you love golf! It's bad if you hate iguanas because iguanas love that golf course. 🦎⛳
Unique beachfront house north of former President Donald Trump's Mar-a-Lago home and club sells for $25 million
I remember interviewing a billionaire (don't even ask!) once who was crowing about buying a beachfront home and how a lot of estates on South Ocean Boulevard aren't really oceanfront because they're actually across the street from the ocean and that may as well be BFE. Well, a true beach house, smack dab on the sand east of the street, sold this month for $24.52 million.
The pictures of what could be are impressive if you can forget about that pesky global phenomenon that must not be named.
A beachside mansion in Boca?!? Oh, the horror! No, really, the horror!
Some Boca Raton elected officials got a hand-slap, or an excoriation, by a federal judge recently for their involvement in opposing a Boca Raton beach mansion that won a recent victory in court.
You'd think Boca elected officials would be on their best behavior after, um, well, that teeny incident a few years ago where someone was facing a handful of felony charges. But, nope.
Live lightly.
Kimberly Miller is a veteran journalist for The Palm Beach Post, part of the USA Today Network of Florida. She covers real estate and how growth affects South Florida's environment. Subscribe to The Dirt for a weekly real estate roundup. If you have news tips, please send them to kmiller@pbpost.com. Help support our local journalism, subscribe today.
This article originally appeared on Palm Beach Post: West Palm Beach's Banyan Cay files for Chapter 11 with possible sale pending
