Palm Beach Inlet Property Sells for $23.75 Million: A Detailed Look
A custom four-bedroom home located on the northern tip of Palm Beach has just been sold for $23.75 million. This transaction emphasizes the ongoing demand for luxury properties in the area.
Property Overview
- Address: 173 E. Inlet Drive, Palm Beach
- Sale Price: $23.75 million
- Previous Owners: Filmmaker and attorney Lisa A. Hedley and her husband, businessman Walter D. Wick
- Completion Year: 2014
- Square Footage: 4,591 total living space on a quarter-acre lot
- Architect: Designed by Roger Janssen of Dailey Janssen Architects
Unique Features
The property offers stunning views down the Intracoastal Waterway, showcasing landmarks like Peanut Island. The home boasts approximately 100 feet of waterfront, providing expansive outdoor and water-view opportunities.
Key highlights include:
- A swimming pool positioned in the front courtyard
- An open family room alongside a kitchen and dining area
- Oversized plate-glass windows and French doors that invite natural light and views
- A wide loggia on the north side, perfect for outdoor living
Transaction Details
The sale was officially recorded on June 9. A trust named after the property, with West Palm Beach attorney Daniel P. Tighe as trustee, facilitated the purchase. Tighe was unavailable for immediate comments, but the deal marks a significant transition in the Palm Beach real estate market.
Background on Sellers
Hedley originally purchased the lot for $2.85 million in 2012. After completing the property, she declared it her primary residence. The house was listed for $25.95 million in mid-October, later reduced to $24.95 million by listing agent Kourtney Pulitzer of Sotheby’s International Realty.
Former Listings and Comparisons
- The property had a combined listing with the adjacent home at 179 E. Inlet Drive at $40.7 million, totaling roughly half an acre and 206 feet of waterfront. This listing was eventually withdrawn.
- In 2021, Hedley sold another nearby property for $9.17 million.
Neighborhood Insights
The East Inlet Drive area features pathways leading to the beach and is a sought-after location among affluent buyers. The home’s proximity to the municipal dock enhances its appeal for boating enthusiasts.
Closing Remarks
The sale at 173 E. Inlet Drive illustrates the continuous interest in luxury real estate within the Palm Beach region. As properties in this price range are actively pursued, it points to a thriving market for bespoke homes that cater to the elite lifestyle.
Interested in exploring more about Palm Beach real estate? Check out Sotheby’s International Realty for listings and market insights.
By tapping into the appeal of high-end real estate and highlighting the features that make this property unique, potential buyers can gain a clearer understanding of the luxury market in Palm Beach. For continuous updates on properties and market trends, keep visiting dedicated real estate news platforms.