Luxurious Palm Beach Waterfront Home Sold for $23.75 Million
A stunning four-bedroom custom home located at 173 E. Inlet Drive, at the northern tip of Palm Beach, has officially changed hands for $23.75 million. This remarkable transaction was recorded on June 9 and showcases the appeal of upscale properties in one of Florida’s most coveted locales.
Property Overview
- Address: 173 E. Inlet Drive
- Sale Price: $23.75 million
- Square Footage: 4,591 total square feet
- Lot Size: Approximately 0.25 acres
- Year Built: 2014
- Architect: Roger Janssen of Dailey Janssen Architects
The property offers breathtaking views of the Intracoastal Waterway and spans approximately 100 feet of waterfront facing Peanut Island to the west.
Custom Design Features
This modified-ranch-style home was custom-built by the seller, Lisa A. Hedley, who is both a filmmaker and an attorney. Along with her husband, Walter D. Wick, they have tailored the home to maximize its waterfront views:
- Design Elements:
- Oversized Plate-Glass Windows: These provide stunning water views and natural light.
- French Doors: Connecting the living spaces to outdoor areas.
- Wide Loggia: Perfect for entertaining and enjoying the landscape.
- Swimming Pool: Located in the front courtyard.
Selling History
Originally purchased in 2012 for $2.85 million, the home was completed in 2014. It was primarily used as the couple’s residence and even designated as a homesteaded property by Hedley in Palm Beach County tax rolls.
Market Journey
The property entered the market with an initial asking price of $25.95 million in mid-October, later adjusted to $24.95 million. Renowned real estate agent Kourtney Pulitzer from Sotheby’s International Realty handled the listing, while Margit Brandt from Premier Estate Properties represented the buyer.
Community and Lifestyle
Located on East Inlet Drive, the home is situated within a charming neighborhood that features direct paths leading to pristine beaches. Known for its luxurious lifestyle, residents enjoy:
- Proximity to Beaches: A short path from the house leads straight to the sandy shores.
- Tropical Landscaping: Surrounding the property, enhancing its appeal and providing a serene environment.
Recent Transactions in the Area
The recent sale adds to the impressive real estate activity in the vicinity:
- Neighboring Properties: Hedley and Wick own another home next door at 179 E. Inlet Drive, purchased for $11.5 million just weeks before the sale of 173 E. Inlet Drive.
- Notably, in 2021, a company tied to Wick and Hedley sold a previous residence for $9.17 million.
The Market’s Future
As interest in luxury properties continues to rise, analysts note that Palm Beach remains a key area for both buyers and investors seeking prime real estate opportunities.
Conclusion
The sale of the 173 E. Inlet Drive home highlights the vibrant real estate market in Palm Beach, where luxurious waterfront living meets architectural elegance. Whether for personal use or investment, properties in this renowned area are undeniably attractive.
For further details on the Palm Beach real estate market, feel free to explore resources such as Sotheby’s International Realty or Premier Estate Properties.
For real estate insights in Palm Beach, visit Beyond the Hedges for the latest news and trends!