Palm Beach Real Estate: A Season of Record-Breaking Sales

Overview of High-End Transactions

Between October 1, 2024, and May 2, 2025, Palm Beach witnessed an impressive eight real estate deals exceeding the $30 million mark. The transactions highlight the allure of this affluent town, which is home to at least 68 billionaires according to recent Forbes data.

Highlights of the Season

• Total Sales Over $30 Million: 8
• Most Expensive Sale: $160 million for two vacant lots on North Ocean Boulevard
• Priciest Condominium: $14.06 million at Kirkland House
• Most Expensive Townhome: $16.5 million on Brazilian Avenue
• Top Commercial Sale: $28 million for the Palm Beach Main Post Office

Top Residential Sales

Here’s a detailed rundown of the notable residential transactions that closed this season:

1. $160 Million – North Ocean Boulevard Lots

In a record-setting transaction, two adjacent vacant lots were sold off-market in February. The properties, totaling 2.26 acres with 363 feet of oceanfront, were owned by billionaire William P. Lauder. Due to the structure of the deal, the sale price was never formally recorded.

2. $81 Million – 1446 North Ocean Boulevard

This 1970s beachfront home was sold in November by Louise Riggio, a prominent figure and spouse of a late bookstore chain chairman. The residence measures 11,042 square feet and boasts seven bedrooms.

3. $73 Million – 530 South Ocean Boulevard

In March, digital-media tycoon Ric Elias exchanged this oceanfront property with 14,908 total square feet, valued at $73 million. The sale was notable for its lack of recorded deed.

4. $51.42 Million – 516 South Ocean Boulevard

This estate, associated with merchant banker Andrew Farkas, was sold to Bren Simon, a notable real estate investor, after extensive renovations since its last sale in 2020.

5. $40 Million – 1230 South Ocean Boulevard

This recently remodeled home near Mar-a-Lago was sold in February, with a total living area of 11,038 square feet. The sale involved a trust-related transaction.

Additional Noteworthy Transactions

• $38 Million – 305 Indian Road
  Purchased by billionaire Herbie Wertheim, this property includes six bedrooms and a scenic waterfront view.

• $31 Million – 1160 North Ocean Boulevard
  The Maddocks sold their custom-built oceanfront home, also featuring eight bedrooms.

• $30.795 Million – 322 Clarke Avenue
  Once a historic site known as Villa Filipponi, this six-bedroom gem was sold to a member of the Cox family.

Condominium Details

Most Expensive Condo: $14.06 Million – Kirkland House, Unit 2A

• Sold in April to philanthropist Paula L. Sidman, this 4,529-square-foot oceanfront condo features three bedrooms and highlighted a price of $3,104 per square foot.

Townhome and Commercial Sales

Most Expensive Townhome: $16.5 Million – 220 Brazilian Avenue

This four-bedroom, 5,435-square-foot townhome was sold in April, representing a luxurious residence in the historic district.

Priciest Commercial Deal: $28 Million – Palm Beach Main Post Office

This landmark 1936 building next to The Breakers was sold by billionaire Jeff Greene. The deal indicates a strengthening of commercial holdings in Palm Beach.

Conclusion

Palm Beach continues to be a prime location for high-net-worth individuals, showcasing resilient demand in the luxury real estate market. With a diverse array of properties, from grand estates to chic condos, the island remains a magnet for wealth and opulence.

Explore more about Palm Beach real estate trends and transactions through reputable sources like Forbes or Palm Beach Daily News.

For more in-depth insights, check out the latest market analyses to stay updated on property values and emerging trends in the Palm Beach area.