Bob Vila Sells Palm Beach Estate for $33 Million
Television handyman Bob Vila, known for his role on This Old House, and his wife, Diana Barrett, have successfully sold their stunning lakefront estate in Palm Beach for a remarkable $33 million. This high-profile transaction was officially recorded with the deed, marking a significant move in the luxury real estate market.
Overview of the Palm Beach Property
Located at 690 Island Drive on Everglades Island, the estate has been prepared for sale by various agencies since late 2023, with a notable price reduction of $4 million, bringing it down to $35.9 million prior to the sale.
- Bedrooms: 7
- Living Space: 7,621 square feet total, approximately 6,300 square feet indoors
- Lot Size: Four-fifths of an acre
- Water Frontage: Approximately 175 feet on the Intracoastal Waterway
- Amenities: Dock, boat lift, large pool patio with views of Lake Worth Lagoon
Ownership History
The estate has a rich history, having been in Barrett’s family since the mid-1970s. Barrett acquired it in 2005 for $6.1 million, transitioning the property into a beautifully updated residence while maintaining its historical charm. Vila explained to the Palm Beach Daily News, “The house had to be completely renovated… the electric system and plumbing were antiquated.”
Estate Features and Renovations
Vila and Barrett undertook extensive renovations, transforming the property into a luxurious home equipped for modern living. Key features include:
- Outdoor Living Spaces: Enclosed loggia with red-brick and large glass-pocket doors
- Main Bedroom Suite with Water Views
- Updated Kitchen and Guesthouse Addition
- Fireplace in the Living Room: A center for family gatherings
- Additional Patios: Designed for outdoor enjoyment and gardening, including a dedicated orchid slat house
The Sale Process
The buyer was associated with a trust, as noted in the deed recorded on June 17. The trust’s trustee is Palm Beach attorney Scott W. Hoffman, with limited public information available due to confidentiality rules governing trusts.
Listing and Sale Timeline
- Initial Listing: November 2023 with an asking price of $52.9 million
- Price Adjustments: Multiple reductions followed, leading to the final sale.
- Final Closing Date: June 12, with broker Christian Angle managing both sides of the transaction after taking over the listing in September 2024.
"Bob and Diana have truly created a legacy in this home, which beautifully blends Old Florida charm with modern conveniences," noted Angle.
Future of the Property
Plans related to the property under its new ownership remain uncertain. Queries about whether the estate will be remodeled further or replaced entirely have not yet been addressed.
Barrett reflected on their time in the home, stating, “It’s a lovely mixture of Old Florida with a real family legacy — but brought up to 2024 standards.”
Next Steps for Vila and Barrett
Following the sale, Vila and Barrett have indicated that they are transitioning to a new residence located on 260 N. Woods Road, which had been recently contracted at $12.9 million. This property measures 4,184 square feet and includes various amenities relevant to their lifestyle.
Conclusion
Bob Vila’s recent real estate transaction underscores the vibrant and competitive nature of the Palm Beach luxury market. With a fascinating history and beautiful upgrades, the estate will continue to be a focal point in discussions about high-end real estate in the area.
For further insights into luxury properties, feel free to explore Palm Beach real estate listings or learn more about Bob Vila’s renovation projects online.