Palm Beach: (561) 659-5113
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First lot from former Kluge estate sells for $6.99M

Sir Peter Wood bought the estate for $39 million last year and turned it into a five-lot subdivision

 

Sir Peter Wood got $6.99 million for selling the first of five lots in Palm Beach he subdivided from the estate of late billionaire John Kluge.

Wood sold the 20,361-square-foot lot for approximately $343 per square foot to a Palm Beach couple who own an oceanfront home adjacent to the lot.

The lot had been listed for sale with a $7.95 million asking price.

The new owners are Thomas D. and Mary Alice O’Malley, who reside at 101 El Bravo Way.

The former Kluge estate is located at the corner of El Bravo Way and South County Road.

Wood bought the former Kluge estate for $39 million in 2016 from the billionaire’s alma mater, Columbia University. Kluge bequeathed the 5.12-acre property to the university before he died in 2010.

Wood is marketing the remaining four lots at asking prices that range from $6.89 million to $14.5 million. — Mike Seemuth

Treasure Coast loses another bid to stop extension of Brightline to Orlando

It was one of the several unsuccessful legal challenges by the Treasure Coast to the planned extension of Brightline from South Florida to Orlando.

 

An administrative law judge Friday denied a challenge to the South Florida Water Management District’s decision to issue a permit needed to extend the planned Brightline passenger rail service from South Florida to Orlando.

The judge tossed out the challenge brought by Martin County, St. Lucie County and the Town of St. Lucie Village.

It was one of the several failed efforts by local governments in Florida’s Treasure Coast region to challenge the planned extension of the Brightline rail service to Orlando.

In May, for example, a federal judge denied a challenge by Martin County and Indian River County against the U.S. Department of Transportation’s decision to issue Private Activity Bonds to finance the development of Brightline.

The Brightline service is expected to begin this year in South Florida between downtown stations in Miami, Fort Lauderdale, and West Palm Beach.

The administrative law judge’s action on Friday cleared the way for the South Florida Water Management District to issue a permit authorizing construction and operation of a stormwater management system, modifications of certain culverts and bridges, and improvements to 23 roadway crossings between West Palm Beach and the northern border of St. Lucie County.

Welcome Our Newest Agent, Anna Donahue

 

Introducing Anna Donahue

Tina Fanjul Associates Welcomes Anna Donahue

Anna Donahue hails from New York, and has had a family home in south Florida since 1963.  She has deep knowledge of many of Palm Beach County’s coastal communities.  Nothing makes Anna happier than to match her buyers with their ideal home. You can count on her to do a thorough market analysis, taking into account trends and market context.  Along with her husband, Anna has also bought, sold and renovated many family homes over the years.  She sees potential where others may not, bringing her wonderful aesthetic and spatial talents to the real estate world.  As a former advertising executive and an accomplished creator of fine art jewelry, Anna understands customer service. She also believes that finding your home should be fun.
ANNA DONAHUE

718.314.0485
adonahue@fanjulrealestate.com

Office: 561.659.5113
220 Sunrise Ave
Ste. 103
Palm Beach, FL 33480

 

Here’s why homes in disaster-prone areas tend to be more valuable

Ocean views come with a price
 

Hurricane Irma hit some of the most valuable real estate in the U.S., and that’s hardly a coincidence. Home values in areas prone to natural disasters have been rising far more quickly than in the rest of the country, according to a new study by Attom Data Solutions.

The company matched areas with government data on storms, floods, earthquakes, and wildfires and found that those with a very high risk of natural disasters saw home prices rise 55 percent since 2012 to an average of $325,178. Prices in areas with the lowest risk rose a mere 30 percent to $223,375.

Attom’s Daren Blomquist said traits many homebuyers value, such as ocean views or warm weather, also increase risks. But more importantly, many of the cities in the path of floods and hurricanes, such as Houston, Palm Beach, and Miami, have seen strong economic growth, pushing up property values.

“The primary reason people buy a home somewhere is that there are jobs there,” Blomquist said.

CoStar estimated last month that hurricane Harvey may have flooded $55 billion worth of Houston real estate.
— Konrad Putzier

After Irma; Open and Available to Assist

We hope everyone weathered Irma with minimum or no damage.  Tina Fanjul Associaties is up and running as of yesterday.  So please reach out to us if there is anything we can do to help with your home. Please know that we are thinking of you and we hold everyone affected by the storm in our prayers.

Palm Beach, West Palm Beach, and surrounding areas are working diligently at cleaning up debris and returning to normal operations. FPL and other power companies are doing an excellent job at restoring power to our communities. When we come together helping and working with each other it lets us know how strong we are. Below are somehelpful links for information as we rebuild.
townofplambeach.com
**City of West Palm Beach Emergency Mgmt
FPL Power Outages
FPL Power Restoration
City of Lake Worth Power Tracker
Palm Beach County Public Safety – Emergency Management
Tina Fanjul Associates, LLC
Palm Beach / Miami / Casa de Campo
561.659.5113
offfice@fanjulrealestate.com

Broadway producer’s waterfront home in Palm Beach sells for $13M

House hit the market for $20M shortly after Jimmy Nederlander’s death in July 2016.

 

The late long-time Broadway titan James “Jimmy” Nederlander and his wife Charlene just sold their waterfront, Palm Beach home for $13.1 million, property records show.

The 8,970-square-foot house at 822 South County Road traded for about $1,460 per square foot. Records show the buyer is West Palm Beach-based company, M&M Palm Beach Property Investors, managed by Kochman & Ziska. The firm is known for representing high-net-worth clients in South Florida.

Records show the Nederlanders bought the house in 2010 for $13.5 million, meaning it sold at a slight loss. Charlene Nederlander’s daughter, Kristina Gustafson, with Southfields Real Estate, had the listing.

Jimmy Nederlander, who once headed the major Broadway theater owner Nederlander Organization, produced the original Broadway runs of the musicals “La Cage aux Folles” and “Nine.” He passed away in July 2016 at the age of 94. The house hit the market about the same time for $20 million, according to Redfin. It sold at a 34.5 percent discount off its original asking price.

The five-bedroom, six-and-a-half-bathroom home was built in 1940, records show. It sits on a 0.75-acre lot and includes a two-bedroom guest home with its own pool, one of two on the property. The Georgian-style house was designed by famed architect Maurice Fatio. Features include floor-to-ceiling windows, wood floors, a pool and 100 feet of water frontage.

The town granted the house landmark protection in 1990, according to the Palm Beach Daily News.

Palm Beach homes are known for fetching big price tags. Just this week, hedge funder Dan Floersheimer, president of Greenwich, Connecticut-based Augmentum Advisors, paid $8.75 million for a Palm Beach home at 125 Chateaux Drive.

tony signiture

Need a home for the holidays? Dr. Oz’s Palm Beach manse asks $95k/month

 

It’s the most wonderful time of the year, when homeowners in Palm Beach start looking for snowbirds eager to drop serious cash for a winter vacation mansion.

Dr. Oz, known for his lifestyle and health advice on the television series “The Dr. Oz Show,” is listing his oceanfront home for $95,000 a month – marking one of the most expensive price tags in the tony town, according to the Palm Beach Daily News. That’s in addition to a $90,000 deposit.

The home at 473 North County Road is a landmarked estate that was built in 1919. It was designed by noted architect Addison Mizner.

Dr. Oz paid $18 million for the home in 2015, records show. The Ozes have rented out the 12-bedroom house for at least part of the season since they bought it, according to the Palm Beach Daily News.

The home is the second most expensive seasonal home rental in Palm Beach. Another beachfront mansion at 100 El Bravo Way is asking $135,000 a month, for at least a six-month period, according to Palm Beach Daily News.

The home has already scored a renter for at least three months in the coming season, according to the Palm Beach Daily News.

Seasonal leases on the island are common. About 77 single-family properties, including townhouses, and nearly 100 units in multifamily buildings are for lease, according to the Palm Beach Board of Realtors Multiple Listing Service. – Amanda Rabines

tony signiture

Mansion at Bear’s Club in Jupiter sells for $11M

The sellers bought the house for $11.05M in 2008

A mansion in the Bear’s Club residential and golf course community in Jupiter just sold for $11 million, property records show.

The 17,012-square-foot house at 130 Bear’s Club Drive traded for about $646 per square foot. Records show the buyer is Ashford Holdings LLC, a Delaware limited liability company. The seller is represented by the wealth management firm Stonehage Fleming, based in London. The seller bought the house for $11.05 million in 2008, when the housing market crashed.

The seven-bedroom, 10-bathroom residence was built by custom-home builder Tuscan Harvey in 2003, according to a previous listing. It features wood floors, three fireplaces, a home theater, recording studio, game room, six-car garage, and a 4,120-square-foot guest home. Outside, the mansion features six covered patios, a tennis court, outdoor kitchen with a barbecue and fireplace, and a pool and spa, according to previous listings.

Residences at the Bear’s Club community, founded by golfer Jack Nicklaus and his wife Barbara, share access to an 18-hole golf course and a 40,000-square-foot clubhouse.

Despite selling for less than its previous sale price, the trade stands out as one of the highest recently at the Bear’s Club. The exclusive community has been home to celebrities like basketball legend Michael Jordan, tennis stars Serena and Venus Williams, and professional golfers Luke Donald, Ernie Els and Michelle Wie.

 tony signiture

Henry Flagler’s statue to get a new home in Palm Beach

Palm Beach founder Henry Flagler is moving— well, his statue is — to Main Street

Henry Flagler’s statue is set to get a new home in Palm Beach.

The Palm Beach Town Council approved funds up to $22,000 on Wednesday to relocate the statue to the town’s Main Street. Flagler’s descendant is also contributing up to $11,000 to cover project costs, according to the Palm Beach Daily News.

Flagler was the founder of Standard Oil and of what became the Florida East Coast Railway and was a pioneer in the development of Florida. He is considered the father of Miami and Palm Beach. He died in Palm Beach in 1913.

The 11-foot bronze Flagler statue will be moved to the Royal Poinciana Way median east of the Flagler Memorial Bridge and Bradley Place intersection in Palm Beach.

During the reconstruction of the new Flagler Memorial Bridge, the 11-foot Flagler was put in storage. Before that, it was east of the north bridge near the Golden Eagle and flagpole, according to the Palm Beach Daily News.

“I think it’s a much better location in the Royal Poinciana median,” Mayor Gail Coniglio told the Palm Beach Daily News. “It’s a better separation of the flag and the eagle as you cross the bridge.” — Grace Guarnieri

 tony signiture

Sold In 58 Days

SOLD

2660 S OCEAN BLVD, 702 S 

JUST SOLD by Helene Sidel , under contract in 2 weeks, Penthouse #702S at Beach Point. The unit boasts of magnificent ocean views from all rooms. Imagine eating or watching your large screen TV while being right above the blue oceans of the semi tropical South Florida Coast. Everything has been completely redone in the best taste: new bathrooms and kitchen. It also has a cabana that was sold with the unit. These units rarely come on the market for sale.
Helene Sidel
561.301.1135

hsidel@fanjulrealestate.com

Office: 561.373.3375
220 Sunrise Ave
Suite 103
Palm Beach, Florida 33480

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