Second-priciest Palm Beach condo gets asking hiked to $19.5 million in MLS
As Palm Beach’s winter season approaches its peak, a condominium that looks more like a townhouse in a four-unit development on Brazilian Avenue just got a $400,000 price hike Tuesday to $19.5 million, according to its updated sales listing.
The new price 219 Brazilian Ave. puts the furnished four-bedroom unit just behind the most-expensive condo currently in the MLS – a three-bedroom oceanfront apartment, No. 3A, that entered the market last month at $19.95 million in the Kirkland House at 101 Worth Ave.
The three-level, four-bedroom unit on Brazilian Avenue – part of the Palazzo Villas complex near South County Road — had been in the MLS since September with a price tag of $18.9 million. Agent Jim McCann of Premier Estate Properties holds the listing.
The condo last sold for a recorded $11.99 million in May. With 5,098 total square feet, the unit traded for $2,353 per square foot. That deal was the only condo sale involving a non-waterfront unit to earn a spot on the list on the Palm Beach Daily News’ list of the priciest multifamily sales in Palm Beach for 2021.
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On the seller’s side is a land trust for which Palm Beach attorney M. Timothy Hanlon serves as trustee.
That trust bought the unit from a limited liability company controlled by Robert and Francine Green, who have ties to Colorado and have a home in North Palm Beach, the deed shows. It remains unclear whether any real estate agents were involved in the May transaction.
In addition to its bedrooms, the condo has custom finishes, a library/den and a private pool. The layout includes a living room and family room along with an upper-level master suite with walk-in-closets, an office and a terrace overlooking the garden and pool in the private back yard, according to the sales listing.
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The condo had been mired in civil litigation for two years before the Greens took possession of it in January 2021 in a sale recorded at $6.05 million. That sale came three years after the Greens sued the company that eventually sold the condo to them, ARCA 21 LLC, along with three other entities.
The Greens claimed the developers had breached their sales contract after the couple put down $1.4 million to buy the condo for $7.195 million in May 2016, the suit said. The Greens told the court they were not delivered the residence as promised, nor did they get their deposit refunded. The defendants denied wrongdoing and the allegations sparked a countersuit against the Greens.
The litigation ended in December 2020 with a confidential settlement in which none of the parties admitted liability.
The condo in the Kirkland House with the $19.95 million price tag is being sold by health-information technology entrepreneur Y. Michele Kang, who owns it through a revocable trust in her name. She bought it for a recorded $5.5 million in September 2020 and renovated it last fall, courthouse and building records show. On the third floor of the boutique building at South Ocean Boulevard, the apartment has 4,000 square feet of interior space and another 1,000 square feet on its balconies.
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The Brazilian Avenue residence had been the most expensive condo listing in the MLS until the Kirkland House joined the market. Agents Ann Summers and Caldwell Colt Robinson of Brown Harris Stevens have the listing in the Kirkland House.
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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: Palm Beach condo's price hiked above $19M in hot real estate market
