“Numbers in South Florida” is a web special listing the most striking, peculiar and surprising real estate statistics.
The trendy town of Palm Beach is known for its lavish and lavish winter soirees, but it’s also known for being a ghost town during the dog days. With so few residents to serve, businesses in many areas will have reduced hours or close entirely this time of year. But with a spate of big deals in recent weeks, involving some of the biggest names in the world, the Palm Beach real estate market is as hot as the average daily temperature. Prices are expected to remain at historically high levels for the foreseeable future as the number of properties available is limited and demand continues to surge. Let’s take a look at the action in this month’s edition of South Florida by the Numbers.
$170 million
The 1.6-acre property at 589 North County Road sold in April, setting a record for a single-family home on Palm Beach Island. (Seller In 2014, “only” $25 million was paid for the property. ) Built in 2006, this 20,195 square foot mansion has 10 bedrooms, 11 full and 7 half bathrooms, plus a pool and summer kitchen. [TheReal Deal]
5
Costume designer Tommy Hilfiger owned the Palm Beach house (bought for $36.9 million in January) for several months before reselling it this month for $41.4 million, making a profit of $4.5 million.While Hilfiger is best known for his eponymous brand, he is also a prolific real estate investor, selling local homes to Fox News host Brett Beyer, noting that Investor Grant Cardone in recent years. [TheRealDeal]
$2.8 billion
Cosmetics giant Estee Lauder paid US designer Tom Ford to acquire his company last year. Like his colleagues in the fashion industry, Ford has been very active in the Palm Beach residential market, buying a home in December 2022 for $51 million (a record price for a non-beachfront home on the island), and then A deal with a local businessman is expected to set a new non-waterfront record. [TheRealDeal]
18
The number of New York and New Jersey car dealerships owned by Rodman Ryan, who recently purchased a home at 135 Gulfstream Road for $28.7 million. The sellers are the co-founders of Carriage House, the island’s newest private dining club, which they bought in 2015 for $6.4 million. [TheRealDeal]
7,000
The former Ta-boo’s, a legendary Palm Beach restaurant on trendy Worth Avenue, will be home to Chef Thomas Keller’s restaurant in the future.this Keller, 67, is known for his French cuisine, with restaurants in California, Nevada, New York and South Florida. [TheRealDeal]
This column is produced by the Master Brokers Forum, an invitation-only network of elite South Florida real estate professionals, based on excellent production and ethical and professional conduct.
