Palm Beach Real Estate Market: Top Deals of 2024

Palm Beach has become a hotspot for high-value real estate transactions in 2024, garnering national attention not only for its luxurious properties but also for its notable residents. Below, we break down the most significant sales that closed this year.

Overview of 2024 Real Estate Sales in Palm Beach

In 2024, Palm Beach real estate saw numerous transactions with prices soaring above $49 million. Among them, two standout deals captured the headlines, reflecting the island’s allure for affluent buyers.

• Notable high-value sales include:
  • $150 million for Tarpon Island—a private island home.
  • $148 million for a landmarked estate on North County Road.

Both properties ranked among the top residential sales nationally, only second to a record $210 million estate sold in Malibu, California.

Top 10 Real Estate Deals in Palm Beach

Here’s a detailed look at the 10 highest sales in Palm Beach for 2024, ranked by price.

1. $150 million – 10 Tarpon Isle

• Details: This sale broke records in Florida for the highest residential deal and was the most expensive home sold on the Intracoastal Waterway without oceanfront access.
• Buyer: Reported to be Michael Dorrell through MCI Properties LLC.
• Property Specs: 11 bedrooms; 28,618 total square feet.
• Sale Date: May 2024.

2. $148 million – 455 N. County Road

• Details: Off-market transaction for Amado, a historic estate on the oceanfront.
• Buyer: Daren Metropoulos purchased this property from the Pencer family.
• Property Specs: 6 bedrooms; 22,741 square feet; Designed by Addison Mizner.
• Sale Date: June 2024.

3. $85 million – 108 El Mirasol

• Details: A rare vacant lot with 225 feet of beachfront.
• Seller: ANK Palm Beach LLC, managed by Anand Khubani.
• Sale Date: April 2024.

4. $81 million – 1446 N. Ocean Blvd.

• Details: The long-time vacation retreat of Louise Riggio and her late husband.
• Property Specs: 7 bedrooms; 11,042 square feet.
• Sale Date: November 2024.

5. $74.25 million – 740 Hi Mount Road

• Details: Mediterranean-style house with stunning Intracoastal views.
• Buyer: Harvey Jones.
• Property Specs: 6 bedrooms; 15,487 total square feet.
• Sale Date: March 2024.

6. $60.37 million – 130 Banyan Road

• Details: Extensively renovated 1924 home in the Estate Section.
• Buyer: The Banyan Road Trust.
• Property Specs: 5 bedrooms; 15,700 square feet.
• Sale Date: May 2024.

7. $51.63 million – 200 Via Palma

• Details: A completely rebuilt mansion sold to Geats LLC.
• Property Specs: 9 bedrooms; 12,441 square feet.
• Sale Date: July 2024.

8. $51.25 million – 200 S. Ocean Blvd.

• Details: Custom-built home facing the ocean.
• Buyer: WPB Investments 1 LLC.
• Property Specs: 4 bedrooms; 8,948 square feet.
• Sale Date: May 2024.

9. $50 million – 940 N. Lake Way

• Details: Vacant lakefront lot.
• Seller: Harvey Cooper Jones.
• Sale Date: May 2024.

10. $49 million – 315 Chapel Hill Road

• Details: Lakefront property sold by the late William “Bill” E. Flaherty’s family.
• Sales Date: June 2024.

Priciest Condo Sale of 2024: $15.7 Million

Apart from the residential properties, the highest condo sale in Palm Beach for 2024 was recorded at $15.7 million for Penthouse A in the Kirkland House. This deal was significant as it set a new building record and ranked as the third-highest sale for an oceanfront condo in the area.

• Buyer: Nicholas “Nick” Adams.
• Seller: Roderic “Rod” M. Oneglia.
• Property Specs: 3 bedrooms; 4,630 square feet, including expansive balconies.

Conclusion

The Palm Beach real estate market in 2024 showcased extraordinary sales that reflect the island’s sophisticated allure and real estate potential. For those interested in the luxury market, Palm Beach remains a premier destination with lucrative opportunities. Don’t miss out on the latest developments in this vibrant real estate scene.

For more information on Palm Beach real estate, explore listings and market trends to stay updated on future opportunities.