May 2023 report: Florida’s highest end luxury residential real estate
Presented by the Florida real estate lawyers at Rabideau Klein
$5 Million-plus Houses: Palm Beach posts biggest single-family home sale of the year
The disposition of Casino mogul Steve Wynn’s lakefront mansion on Palm Beach Island brought $66 million in April. The transaction was orchestrated by Lawrence Moens of Lawrence A. Moens Associates who represented both Mr. Wynn and the purchasing party, Robert Stiller, founder of Green Mountain Coffee Roasters.
Florida’s luxe home inventory sizzles with activity. In April, the top offering was tagged at $100 million, a Golden Beach mega-estate at 355 Ocean Boulevard. There were 1,024 new listings during the last three months and the average price point increased two percent to $7.64 million, year-over-year.
$5 Million-plus Condos: Penthouse atop iconic Palm Beach Tiffany building brings $18M
The top detached home sale, a rooftop penthouse that was part of a recent renovation of landmarked Tiffany building, brought $18 million in April. The transaction was one of 31 sales in Florida’s burgeoning ultraluxe condominium market segment, eight of which brought over $10 million each.
Ultraluxe condominiums advertised and sold in Florida achieved a mean average price point of $7.05 million during the last three months, a 5 percent increase, year-over-year.
Florida Multimillion Dollar Market Brief
Each issue reports on the advertised Florida real estate activity for the prior month in the category of ultra-luxury residential sales and listings of single-family homes and condominiums priced at $5 million or more. The information reflects all data entered by the last day of the prior month. When a sale or listing for that month is posted after the last day of the month, that information will be rolled into the following month’s report. The Florida Multimillion Dollar Market Brief reports on real estate with residential property such as single-family home, condo, co-op and townhouse types, and does not include land-only, multi-family homes, and mobile home types.
All information contained in the report is deemed to be reliable, but is not guaranteed. Neither Rabideau Klein, nor any of its employees makes any representations or warranties as to the accuracy of its contents.