Record-Breaking Palm Beach Real Estate Sales: Highlights from the 2024-2025 Season
Palm Beach, a haven for the wealthy, continues to make headlines with its extravagant real estate transactions. The season from October 2024 to early May 2025 has marked a significant surge in property sales, with a notable influx of buyers willing to invest in high-end real estate. The latest data from Forbes indicates that Palm Beach is home to at least 68 billionaires, making it a prime location for luxury property acquisitions.
Here’s a detailed breakdown of the top residential sales in Palm Beach exceeding $30 million, along with significant transactions in condominiums, townhouses, and commercial properties.
Top Residential Sales
1. $160 Million – 1063 and 1071 N. Ocean Blvd.
Two vacant oceanfront lots, totaling 2.26 acres, sold in February 2025, setting a record for vacant land in Palm Beach. Owned by billionaire William P. Lauder, the deal was structured off-market, keeping details of the sale confidential.
2. $81 Million – 1446 N. Ocean Blvd.
This contemporary-style estate on 1.68 acres, known as the vacation retreat of Louise Riggio, changed hands in November. It features seven bedrooms and 11,042 square feet of living space.
3. $73 Million – 530 S. Ocean Blvd.
In March, a French Provincial-inspired mansion was sold privately by Ric Elias to Mark Paley. This property, constructed in 2020 and sitting on three-quarters of an acre, boasts 14,908 total square feet.
4. $51.42 Million – 516 S. Ocean Blvd.
This seven-bedroom house on 516 S. Ocean Blvd. sold in April for over $51 million. With 11,489 total square feet, the residence has been extensively renovated since its last sale in 2020.
5. $40 Million – 1230 S. Ocean Blvd.
This recently renovated home, built in 1986, sold for $40 million. Situated just south of Mar-a-Lago Club, the estate includes five bedrooms and offers 11,038 square feet of living area.
6. $38 Million – 305 Indian Road
In November, Dr. Herbert A. Wertheim purchased this renovated house facing the inlet for $38 million. The six-bedroom property covers 6,814 total square feet.
7. $31 Million – 1160 N. Ocean Blvd.
This property, which includes a separate guesthouse and beach parcel, was sold in March. The North End home features seven bedrooms and nearly 8,000 square feet of space.
8. $30.795 Million – 322 Clarke Ave.
In December, a landmarked house known as Villa Filipponi, built in the 1920s, was acquired for $30.795 million. It features six bedrooms and has undergone significant renovations.
Notable Condominium and Townhouse Sales
Highest Condo Sale: $14.06 Million – 101 Worth Ave.
On the second floor of the Kirkland House condominium, this three-bedroom unit sold for $14.06 million in April, setting a record for condominium sales this season.
Highest Townhouse Sale: $16.5 Million – 220 Brazilian Ave.
This four-bedroom townhouse, part of a duplex near Town Hall’s historical district, was sold for $16.5 million.
Commercial Property Highlights
Highest Commercial Sale: $28 Million – 95 N. County Road
In December, the historic Palm Beach Main Post Office, sold for $28 million to a company connected with The Breakers Palm Beach resort. This sale signifies a strategic expansion within the Royal Poinciana Way commercial district.
Palm Beach’s real estate market exhibits an ongoing allure for affluent buyers, with a mix of iconic residential properties, modern condominiums, and commercial spaces at remarkable prices. As wealth concentration continues to climb in this prestigious enclave, the trend of sky-high sales is likely to persist.
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