North End Jumpstarts August Market
Provided by the Palm Beach real estate lawyers at Rabideau Klein
Key points
- Palm Beach’s two largest real estate transactions during Q3 were for $51.3 million and $42 million single-family homes.
- The largest sale was lakefront mansion near former President Donald Trump’s Mar-a-Lago Club at 200 Via Palma.
- The Town of Palm Beach issued an $8.74 million permit for a residential addition to an estate that was purchased for $25 million in 2023.
During the past three months there were fewer grand slams in the Palm Beach single-family home sale game than usual, bringing the median sale price down to $9.28 million. However, an estate under construction on the North End at 755 North Lake Way was presold for $11 million in a private transaction on August 2nd. Additionally, the day before, the second largest sale of the month, a stunning one-story residence on a deeded beach also located on the North End rang up at $10.16 million. A group of new-to-the-market offerings made a tight but powerful showing in August where two of the eight were priced over $20 million.
The permit pulled for the $4.68 million interior renovation at the First Republic building on Banker’s Row is Palm Beach’s largest property construction project that was launched last the month. August’s issued permits also include two new home construction projects at 232 La Puerta Way and 302 Seabreeze Avenue. Open the September report for the full story.