The current price tag for the newly built estate would shatter the record price for a single-family home in West Palm Beach, which now stands at $5.02 million.
Even after a $600,000 price cut, a West Palm Beach mansion is on the market with a list price that would far surpass the city’s record sale.
The newly built estate at 2914 Washington Road went on the market in 2017 for $13.5 million, while it was still under construction. The mansion was completed in September, and in late March, the seller cut the price to $12.9 million.
If the house along the Intracoastal Waterway fetches anywhere near that amount, it will shatter the record price for a single-family home in West Palm Beach. The current high-water mark is $5.02 million, the sum paid in October for a house at 5615 S. Flagler Drive.
The 9,634-square-foot manse on Washington Road was developed by The Aquantis Group. It features six bedrooms, a two-story living room, a library, a wine vault, an elevator and, in something of a head scratcher, seven fireplaces.
The house is listed by Burt Minkoff and Ashley McIntosh of Douglas Elliman.
Palm Beach County’s luxury real estate market is sending mixed signals.
The condo market is shattering records. Last month, a full floor at The Bristol, the waterfront condo tower in West Palm Beach, sold for $42.6 million. That sale far eclipsed The Bristol’s previous high-water market of $17.6 million.
The Bristol’s total sales have reached $100 million. The 291-foot-tall tower boasts private elevators and other perks.
The VistaBlue condo on Singer Island in Riviera Beach also has sold well, attracting buyers such as billionaire Joe Mansueto, who founded Morningstar, Inc., and football coach Bret Bielema, who is currently a consultant with the New England Patriots.
However, many high-dollar mansions have been languishing. In one high-profile example, the Ziff estate in Manalapan has been for sale since 2015. It was first marketed off the multiple listing service, then went on the MLS for $195 million in early 2016. It’s now on the market for $137.5 million.
In Palm Beach, a never-lived in mansion at 1071 N. Ocean Blvd. has been for sale since 2015. It went on the market for $84 million. It’s now priced at $59.9 million.