$59.9M Palm Beach Mansion Makes a Splash as Most Expensive New Listing

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With gusts of cash blowing in, the luxury real estate market in Palm Beach, FL, has swayed in a very positive direction this year.

The median sale price ($16.5 million) in the exclusive community more than tripled year over year in the third quarter, according to Housing Wire. The Palm Beach Post declared more than a half-billion dollars in residential property changed hands this summer, setting a local record. And an area mansion sold for a whopping $105 million earlier this month, following hot on the heels of the sale of a $99 million property in September.

This is all a prelude to an intriguing winter in the tony town. Deep-pocketed buyers have already begun their migration from colder climes, and many more multimillion-dollar properties are bound to be snapped up in the city’s high season.

With that backdrop, we refer you to this week’s most expensive new listing on realtor.com®: a 24,000-square-foot mansion for $59.9 million.

If the gorgeous place looks familiar, it’s because this isn’t the home’s first dalliance with a “For Sale” sign. It was listed in 2014 for an eye-watering $99 million price tag. The price was sliced in 2017, 2018, and earlier this year before returning to the market this week.

Represented by Ashley McIntosh of Douglas Elliman, the home stands out for its elegance, size, and location. The land value of the 2-acre lot is $30 million, she says, and the cost to build a comparable home would exceed the list price.

Living room

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Pool with boat dock

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With approximately 175 feet of frontage on the Atlantic Ocean and the Intracoastal Waterway, there are water views both east and west.

Located in an area known as Billionaires Row, the home is less than 2 miles from President Donald Trump‘s Mar-a-Lago.

Built in 2012, the residence offers seven bedrooms and 14 bathrooms. Large windows bring in abundant natural light and offer views of the natural beauty surrounding the residence.

Luxe amenities include a wine cellar, media room, library, and elevator. The dining hall accommodates two large tables and can easily host parties of 20 or more. The kitchen is equipped with a pizza oven, high-end appliances, and plenty of prep space.

Out back, there’s a clay tennis court, glass-tiled pool, and 200-foot-long boat dock.

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source https://www.realtor.com/news/trends/most-expensive-new-listing-massive-palm-beach-mansion/