Palm Beach Real Estate is Positively Sizzling



Gemini, the Ziff family estate on Palm Beach Island, is listed for $195 million.New York and the Hamptons had a good year, but real estate is positively sizzling in Palm Beach. Median prices for single-family homes are up 13.4 percent, from $2.975 million to $3.375 million, and condos 23.1 percent, from $540,000 to $665,000, during the second quarters of 2014 and 2015, according to the Evans Report, a market-analysis quarterly. By August of this year, the median number of days a listing spent on the market clocked in at a mere 36, suggesting dwindling inventory and a perfect environment for a burgeoning seller’s market. “There’s strong demand and tight supply,” says Matt Halperin, president of the Realtors® Association of the Palm Beaches. “It’s very hot here.”

The biggest recorded 2015 sale thus far is hedge funder Paul Tudor Jones’s $71.2 million purchase of historic Casa Apava on Billionaire’s Row. But it’s peanuts compared to the coin required for the Ziff family’s recently listed $195 million Gemini compound in neighboring Manalapan. The latter’s 16-acre property boasts a 62,200-square-foot mansion, botanical garden, miniature golf course, pool, pier, dock, 1,200 feet of Atlantic Ocean frontage, and a tunnel that runs under the Intracoastal Waterway. Other big Palm Beach gets: the still-under-construction $84.5 million house at 1071 North Ocean Boulevard, which is being built by Vahan and Danielle Gureghian, and the $67.5 million, 2.3-acre Villa Venezia at 1485 South Ocean Boulevard, previously the home of former Lazard Frères vice chairman Damon Mezzacappa, who died in April. Both properties are listed with Christian Angle of Christian Angle Real Estate.

Gemini is a 62,200 square-foot house with 1,200 feet of Atlantic Ocean frontage.Notable newcomers include Dr. Mehmet Oz and his wife, Lisa, who paid $18 million for a 13,500-square-foot historic oceanfront estate on North County Road in early October, and pro golfer Dustin Johnson, who got a really big hole in one in September with a $4.95 million steal in Palm Beach Gardens, which includes an 8,200-square-foot home and almost two acres on the Intracoastal, complete with its own private island and dock, rock-fall waterslide, and tiki hut.

A version of this article appeared in the Holiday 2015 issue of New York Cottages & Gardens with the headline: Palm Beach.

 

Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags

Property of Note: 52 Barn Lane

Edit Module
33 Crooked Mile Road, Darien, CT
Magnificent blend of classic Connecticut craftsmanship and style with the ease of contemporary living, filled with natural light and modern flow. Each space has been designed with exquisite attention to detail, from the intimate paneled library to the luxurious master bathroom with heated glass mosaic floor and elegant soaking tub. Set on a private cul-de-sac with a pool surrounded by beautiful gardens, enjoy privacy and serenity in a park-like setting only 5-minutes from Darien town and train.



View more details about 33 Crooked Mile Road

Edit ModuleShow Tags
20 Juniper Road, Darien, CT
One of the largest waterfront properties in Darien. Magnificent 11-room estate on 7.1 private acres looking south to Long Island Sound and north to Goodwives River and Rings End Bridge. The 8,300 sq.ft. home includes: great room with 12’ ceilings and 2 limestone fireplaces, gourmet kitchen with breakfast room, family room with stone fireplace. 10 sets of French doors to expansive flagstone terrace. 5 en-suite bedrooms with water views, 8 bathrooms, full basement with billiard room, astroturf play room, workshop. Includes a pool/spa, outdoor shower and dock and more!



View more details about 20 Juniper Road

Edit ModuleShow Tags
29 Barn Lane, Bridgehampton
Beautiful 6-bedroom, 6-bathroom home conveniently located between Bridgehampton and Sag Harbor. This 6,400 SF Dutch Gambrel home is the perfect place to relax or host family and friends this summer. 10’ – 11’ ceilings throughout main level including a designer kitchen featuring breathtaking stonework with Sub-Zero, Wolf and Miele appliances. The master suite showcases a luxurious bathroom. Finished lower level, upgraded construction features, and integrated concierge services by Chaloners make Barn and Vine the easiest home for you.

Barn and Vine

View more details about 29 Barn Lane 

Edit ModuleShow Tags
Unprecedented Compound, East Hampton NY
Featured in the Wall Street Journal Mansion section and the New York Post, this luxurious 23-acre compound minutes from East Hampton Village includes an approx. 18,000-sq.ft., 12+ bedroom main house, chic 6-bedroom former carriage house, and charming horse stables with paddocks and riding fields. The Cotswold-inspired main house with heated gunite pool, oversized spa, pool house, and hard-court tennis is framed by stone courtyards, covered arbors, and idyllic gardens.



View more details about this East Hampton NY Compound

Edit ModuleShow Tags
265 Thimble Island Road
Lifestyle & Luxury meet the sea in this 4 bedroom waterfront home with panoramic views of the Thimble Islands. This home embraces it’s surrounding & is the epitome of seaside elegance. The interior is caressed with charm & character. The walls of windows bring in the light of illuminating ocean sunrises & by evening the interior space is filled with picturesque evening sunsets. The lush side courtyard & wrap around deck both take on spectacular water views making this home the envy of the most rich & famous.

265 Thimble Island Road

View more details about 265 Thimble Island Road

Edit ModuleShow Tags
11 Musket Ridge Road, Wilton CT
Perched at the top of a roaring Silvermine River waterfall on almost 4 acres, the property spreads out into Wilton and New Canaan. Every inch of this home has been perfected to capture the timeless appeal of the river while exuding ultimate refinement and good taste. The architect-designed home captures river views and sounds, and almost every room opens to one of the magnificent decks or to a private balcony.

11 Musket Ridge Road

View more details about 11 Musket Ridge Road
Edit ModuleShow Tags Edit Module

Edit ModuleShow Tags
Edit ModuleShow Tags Edit Module
 
Edit ModuleShow Tags
Edit ModuleShow Tags