A luxury spec home in Palm Beach has sold for nearly $39 million, marking one of the area’s most high-profile real estate transactions of 2024. The waterfront property, located at 1742 South Ocean Boulevard, was developed by a prominent investor known for building high-end homes along Florida’s Gold Coast. According to the Palm Beach Daily News, the buyer was listed as The 1742 South Ocean Trust, with Palm Beach attorney David E. Klein named as trustee in the deed recorded June 26. This record-breaking Palm Beach real estate sale reflects the continued strength of South Florida’s ultra-luxury property market and its enduring appeal to high-net-worth buyers from around the world.
The six-bedroom house at 1742 S. Ocean Blvd was sold by a limited liability company managed by Palm Beach resident Anthony Lomangino, who redeveloped the property for resale. He and his wife, Lynda, own an oceanfront estate down the street from the one that just changed hands.
The 1742 South Ocean Trust was the buyer in the sale, according to the deed recorded June 26. The document lists Palm Beach attorney David E. Klein as the trust’s trustee.