Recent Real Estate Transaction: 142 Via Palma Sold for $16.99 Million
A prominent real estate transaction occurred recently at 142 Via Palma, Palm Beach, where the property was sold for $16.99 million. This sale follows a series of notable transactions in the renowned Mar-a-Lago security zone.
Details of the Sale
- Previous Asking Price: Originally listed at $24 million in late 2023, the price was subsequently reduced to $18.95 million before the final sale.
- Property Ownership: The former owners, entrepreneur David E. Weisman and attorney Jacqueline E. Michel, purchased the house in 2016 for $5.4 million.
Property Features
- Size: The four-bedroom house boasts a generous 7,633 square feet of living space.
- Lot Size: Situated on approximately two-fifths of an acre, it is conveniently located just five lots from the beach.
- Amenities: The property includes high ceilings, formal living spaces, and a terrace overlooking a 50-foot heated lap pool.
Buyer Representation
Notably, a trust named after the property’s address facilitated the purchase. Lawrence S. Chane, an estate-planning and tax attorney from Philadelphia, acted as the trustee. Due to privacy regulations, further details about the trust’s beneficiaries remain confidential.
Trends in the Mar-a-Lago Security Zone
The Mar-a-Lago area has witnessed a surge in property sales since December, with seven properties changing hands. This uptick can be attributed to heightened demand for residential properties in this exclusive neighborhood.
When former President Donald Trump is in residence, security measures significantly alter daily life, shutting down seven blocks of South Ocean Boulevard for safety. While this brings added security, it also complicates traffic flow for residents and visitors alike.
Other Recent Sales in the Area
Since mid-December, several properties within the Mar-a-Lago security zone have sold at impressive prices:
- 130 Algoma Road: A newly constructed five-bedroom home sold for $14.3 million.
- 120 Clarendon Ave: An eight-bedroom estate fetched $27.5 million; notable buyers linked to the Goya Foods family.
- 1090 S. Ocean Blvd: A vacant lot with approved plans was sold for $19.5 million.
- 168 Kings Road: An updated property sold for $12 million.
Future Listings and Sales
Currently, there are multiple properties listed within the Mar-a-Lago security zone:
- 112 Algoma Road: On the market for $12.5 million.
- 160 Clarendon Ave: Listed for $48.85 million.
- 1048 S. Ocean Blvd: Offered at $23.95 million.
The Lifestyle Impact
Living in the Mar-a-Lago vicinity offers unparalleled security and luxury, attracting high-profile individuals. The neighborhood is transformed into a secure enclave during Trump’s visits, further emphasizing the appeal of these properties.
Why Invest in Palm Beach Real Estate?
- Exclusive Neighborhoods: The area’s reputation for safety and luxury lifestyle attracts affluent buyers.
- Valuable Investments: Properties in the Mar-a-Lago area have proven to hold or appreciate in value, benefiting from the high demand.
For those interested in the upscale Palm Beach real estate market, now is an opportune time to explore listings and understand the dynamics of this exclusive community.
For further details on Palm Beach real estate, visit Realtor.com or Zillow to check current listings and trends.