October issue: Town of Palm Beach luxury real estate highlights
Presented by the Fla real estate lawyers at Rabideau Klein
$1 Million-plus Single-Family Homes
A private sale on the North End of island brings $9 million. Third quarter numbers are modest but positive for luxury home price points, at an increase of 3% and inventory of $1million plus homes in the Town of Palm Beach has declined 64% during the three-month period.
$1 Million-plus Condominiums
Advertised as a “Lifetime Opportunity,” the sale of a 100 Royal Palm Way penthouse closed at $15 million in September, contributing to a third quarter average sale price of the Town’s condominiums during the third quarter of $2.44 million, a 32 percent increase as compared to the same period of last year. Inventory decreased 28% during Q3.
Straticon Commences $7M Royal Poinciana South Renovation
Not only did Straticon pull the largest permit during the month of September for their $7 million commercial renovation project, the construction company also broke into the top the Top 10 chart of largest permits issued during the last twelve months, and was one of the top three contractors of the third quarter.
Town of Palm Beach Brief
Each issue reports on both private and advertised Town of Palm Beach real estate activity for the prior month in the category of luxury residential sales and listings priced at $1 million or more. The report reviews the Town of Palm Beach’s land usage, specifically, building and development applications as presented to the Town, and the Architectural and Landmarks Commissions, and permits of large scale building projects in the $100 thousand-plus valuation category. 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.
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.