Million-Dollar Listing: Seaside Condo Fetches $6.8M in Palm Beach’s Dunster House, Deed Shows - Newsroom - Rabideau Klein

Million-Dollar Listing: Seaside Condo Fetches $6.8M in Palm Beach’s Dunster House, Deed Shows

By Darrell Hofheinz, Daily News Real Estate

A trust was on the buyer’s side of the sale recorded Thursday for the fifth-floor apartment a 360 S. Ocean Blvd. in Midtown.

A trust was on the buyer’s side of a sale recorded Thursday at $6.8 million for an oceanview corner condominium on the fifth floor of Dunster House at 360 S. Ocean Blvd. in Midtown Palm Beach.

Palm Beach real estate attorney Guy Rabideau served as trustee for the 360-5A Trust, the document shows.

The sellers were Mark J. and Patricia L. Davies, who paid $5.25 million for Unit 5A in  Demember 2015, according to property records.

Both sides were represented in the sale by agents Dana Koch and Paulette Koch of the Corcoran Group, who also acted for the Davies in their purchase five years ago. Dana Koch, the sellers and Rabideau declined to comment.

No other information about the trust that bought the condo was immediately available.

The Davies, who have ties to Greenwich, Connecticut, completely renovated the three-bedroom apartment, which also has a den, building records show. With 2,500 square feet of interior space, the condo captures wide views of the sea from every major room, thanks to its prime southeast corner position on the northwest corner of Chilean Avenue.

Corcoran listed the property for sale in early May at $8.95 million, later dropping the price by $1 million. The condo was under contract by the end of July, the MLS shows.

The apartment has wide-plank oak floors, a gallery with coffered ceilings and custom-designed millwork and lighting, according to the sales listing. The renovated kitchen is outfitted with “top of the line” appliances. A butler’s pantry offers wine storage, and there’s a Sonos system with hidden speakers.

The service-oriented, boutique building is considered one of Midtown’s prime oceanfront condominiums, and condos seldom change hands there.

“This is a once-a-in lifetime opportunity not to be missed,” the sales listing said.

Davies were only the second owners of the unit. The previous owners were Elinor and Ralph Lubow, who in 1980 has bought it for $500,000 from the building’s developer, the late Michael Burrows.

Mark Davies’ resume includes serving as a financial professional registered with the Merrill Lynch, Pierce, Fenner & Smith securities firm in New York City, records show.

In the 2015 sale, agent Heather T. Woollems of Sotheby’s International Realty represented the sellers.

Read the full story …

Previous Post
UPDATE: Owners Sell Palm Beach House for Nearly $10M; Sale is Linked to $6.5M Condo Deal at The Bristol, Deeds Show
Next Post
Real Estate Season Preview: Palm Beach House-Hunters Face Tight Market After Sizzling Summer of Sales