Palm Beach Real Estate

Palm Beach Real Estate News & Events

Archive for 'Fite Shavell News'

SPECIAL TO FLORIDA WEEKLY Homes for Sale on Hypoluxo Island

Homes for Sale on Hypoluxo Island

This gorgeous island estate built in 2005 offers ultimate waterfront enjoyment. This prestigious Hypoluxo Island 4,485-square foot estate, 1026 N. Atlantic Drive, on a large waterfront lot, offers a rare opportunity to enjoy the sought after casual lifestyle.

A brick drive brings one to an intimate covered garden entry of this home with four bedrooms and four bathrooms. The foyer leads into the light-filled great room that flows into a semi-circular dining room with two-story windows that offer views of the landscaped gardens, patios, pool, spa and dock. These rooms feature soaring, coffered and custom wood ceilings, marble floors and finely crafted moldings. Off the main entry are two attractive and very private guest bedroom suites. The third guest suite serves as a study and is just adjacent to the great room. Also off the great room is the gourmet center-island kitchen with professional grade appliances, family room with a stone fireplace and charming breakfast room. Here, floor-to-ceiling windows and doors open to the gardens. Off the dining room is a striking master suite, located to maximize enjoyment of water views.

Hypoluxo Island is located between the Atlantic Ocean and the Intracoastal Waterway on the Gold Coast in Central Palm Beach County.

Fite Shavell & Associates lists the estate at $1,699,000. Agents are Jack Elkins, 561-373-2198, jelkins@fiteshavell.com, and Bunny Hiatt, 561-818-6044, bhiatt@fiteshavell.com.

View entire article on the Florida Weekly website.

Tags: , , , , , , , , , , , ,

SPECIAL TO FLORIDA WEEKLY Homes for Sale in Palm Beach

Homes for Sale in Palm Beach

This three-bedroom, three-bathroom home is on a desirable Palm Beach street.

The home at 256 Miraflores Drive features marble floors, a state-of-the-art kitchen with Subzero refrigerator and Thermador double ovens, Pella windows with shades between glass, a three-zone central air system, and much more. It is close to the beach, clubs, restaurants and shopping.

Fite Shavell & Associates lists the home at $3,195,000. The agent is Thor M. Brown, 561-301-7048, tbrown@fiteshavell.com.

View entire article on the Florida Weekly website.

Tags: , , , , ,

SPECIAL TO FLORIDA WEEKLY Homes for Sale in Palm Beach

Homes for Sale in Palm Beach

This is an amazing property with approximately 26,800 square feet, featuring two homes and an oceanfront parcel.

The Mediterranean oceanfront home at 1230 N. Ocean Blvd., Palm Beach, was built in 2006 and features a 24-foot grand domed foyer with floating curved staircase, four bedrooms, 5½ bathrooms, Venetian plaster walls, pecky cypress beams, stone fireplace, fantastic gourmet kitchen, elevator and oceanside cabana with pool and Jacuzzi. Includes additional spacious, open floor plan home on adjacent property 1233 N. Ocean Way.

Fite Shavell & Associates lists the properties at $13,500,000. The agent is Paula Wittmann, 561-373- 2666pwittmann@fiteshavell.com.

View entire article on the Florida Weekly website.

Tags: , , , , , , ,

By Darrell Hofheinz/Daily News Staff Writer Homes for Sale in Palm Beach

Homes for Sale in Palm Beach

An aerial view shows the house and its lush landscaping on a double lot at 322 Clarke Ave. Photo by RobertStevens.com, courtesy of Fite Shavell & Associates.

Palm Beach attorney Emmett E. Tracy Jr. and his wife, Marilyn, have parted with Villa Filipponi — their 1929 landmarked estate at 322 Clarke Ave. — for a recorded $8.775 million.

A revocable trust in the name of Marilyn Tracy sold the seven-bedroom house on a double lot in Midtown to a Delaware limited liability company named EJHFL LLC, according to the deed recorded Wednesday. No other information about the buyer was immediately available because of Delaware’s strict corporate privacy laws.

Fite Shavell & Asssociates agent Thor M. Brown had listed the house for sale at about $10.9 million in August 2013, and the property landed under contract in March, according to records in the Palm Beach Board of Realtors Multiple Listing Service. But the sale did not close until this week.

Brown said a confidentiality agreement prevented any of the parties involved from discussing the sale. MLS records list the buyer’s real estate agent as Gary Pohrer of K2 Realty.

With 7,682 square feet of living space inside and out, the Spanish Mediterranean-style house stands one house east of Cocoanut Row on four-tenths of an acre.

The Tracys have downsized to a four-bedroom home at 161 Main St., which Marilyn Tracy’s trust bought in October for a recorded $4.3 million. The seller was Laura T. Andrassy, the first wife of professional golfer Greg Norman. Brown acted on the Tracys’ behalf in that deal opposite agents Toni Hollis and Gloria Moré, who also work at Fite Shavell.

Expanded over the years, a 1929 house at 322 Clarke Ave. earned landmark-protection status from the town in 2001. Photo by RobertStevens.com, courtesy of Fite Shavell & Associates.

The house entered the town’s landmarks registry in 2002, about five years after the Tracys paid Thomas and Renate McKnight $3.2 million for it, according to property records.

Although the house is usually attributed to noted society architect Marion Sims Wyeth, the Landmarks Preservation Commission’s designation report did not identify the architect. Because the house is landmarked, exterior walls viewed from the street cannot be significantly altered.

The house already had been renovated and expanded by other owners before the Tracys bought it. They have family ties to the Detroit area.

In 2004, the Tracys expanded a sitting room, built an adjacent outdoor pergola and enlarged the guest apartment and garage, according to a 2013 Daily News article.

Gardens ‘a real attraction’

Marilyn Tracy also lavished attention on the gardens, making additions and commissioning landscape architect Mario Nievera’s firm to add brick walkways, the article said. Photographs of the landscape have been accepted by the Smithsonian Institution into its Archives of American Gardens’ Garden Clubs of America Collection.

“It’s a real attraction, and it’s been a very satisfying effort for my wife, to bring the transition from what it was when Renate had it,” said Emmett Tracy, referring to home’s landscape and the previous owner.

The house was constructed for Laurietta Ford von Stresenreuter Filipponi, whose husband presented himself in society as Count Carlo Filipponi, although his Italian title proved to be false, according to newspaper reports from the 1920s. The late Palm Beacher Frank O. Butler was her grandson.

Thor M. Brown of Fite Shavell & Associates

The house’s exterior details include a clay barrel-tile roof, wrought iron-railed balconies, decorative tiles and Corinthian columns. The interiors feature original details such as Cuban-tile floors, fireplaces and pecky-cypress ceilings.

The two-story living room is overlooked by a second-floor arcade. In the opposite wing, stairs lead to an outdoor observation deck.

Palm Beach architect Jeffery Smith carried out an extensive renovation and restoration project after the McKnights bought the house in 1990 from Richard and Marion Gillette. Three years later, they bought an adjacent house at 310 Clarke Ave.

“The McKnights knocked down the house next door, which gave them the space for the gardens,” Emmett Tracy told the Daily News last year.

During the renovation, Smith added a loggia and pool pavilion, along with a 1,200-square-foot addition to the southwest corner of the house.

Wednesday’s special warranty deed also transferred ownership of the land at 310 Clarke Ave.

View entire article on the Palm Beach Daily News website.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Threshold for entry-level PB homes trending upward, latest Evans Report shows.

Homes for Sale in Palm Beach

By Darrell Hofheinz/Daily News Real Estate Writer

The island’s turbulent years of boom, bust and recovery have largely become but a memory, a new real estate sales analysis shows.

The number of sales of single-family properties and condominiums during the first nine months of this year are about on an even keel with the same period a year ago, according to the latest Evans Report, released last week by Palm Beach real estate lawyer and property owner Leslie R. Evans.

But sales prices are up, reflecting a sellers’ market where the inventory of available properties remains tight and where buyers have often found themselves in bidding wars.

Axel Ulrich’s renovated three-bedroom house at 209 Tradewind Drive on the North End sold for a recorded $3.3 million in July, one of many sales during the first nine months of the year that boosted activity for homes priced between $2.5 million and $5 million, according to the latest Evans Report. Agents Toni Hollis and Gloria More of Fite Shavell & Associates were the listing agents opposite Stephanie Lefes of Royal Palm International Real Estate, representing buyer Alexander T. Harvey. Photo by RobertStevens.com.

In fact, the lowest-price categories for both single-family homes and condos are simply evaporating as prices outstrip them. The report shows, for example, that 76 single-family properties changed hands at prices below $2.5 million during the first nine months of 2013. For the same period this year, there were just 56 sales in that price category.

“What you’re seeing is that prices for entry-level homes are moving up,” Evans said in an interview last week. “Entry-level prices used to be (well) below $2.5 million. Now, they’re (often) in the $2.5 million to $5 million range. It’s become harder to find anything below $2.5 million.”

In turn, the single-family price category between $2.5 million and $5 million saw sales rise 11 percent, the greatest percentage jump of any segment in the report.

“You’ve heard of that phrase, ‘A rising tide raises all boats?’ That’s what’s happening,” Evans said. “It’s supply and demand.”

More big sales

During the first three quarters of this year, 149 single-family houses, townhouses and vacant lots changed hands town-wide for a grand total of about $803 million. During the same period last year, several more property properties sold — 156 — but the overall amount of dollars changing hands totaled just $693 million.

The report’s cumulative single-family pricing data reflects the fact that more properties sold for $10 million or more between Jan. 1 and Sept. 30 this year than during the same period of 2013. Twenty-one sales in that price category occurred this year compared to 11 last year during the months analyzed.

At the top of the price scale, the numbers in the first three quarters were especially notable: Eight homes sold for $20 million this year versus only three in 2013.

On the condominium scene, the trends are similar — 284 condos and cooperatives changed hands in the first nine months of this year, compared to 289 in the same period of 2013. But this year, more condos sold at higher prices, with 30 sales recorded at $2 million or more, according to the report. That category saw just 21 transactions last year.

At the lowest end of the condo price scale, the numbers reveal that buyers were finding far fewer bargains. For the nine-month periods covered in the report, the number of condos that sold for $250,000 or less dropped from 83 last year to 67 this year.

New homes fetch higher prices

The median price of single-family properties that sold during the first three quarters of this year was $3 million, up about $463,000 over the figure for the same period of 2013. The median price is the price at which half of the properties sold for more and half for less.

The report also spotlights how rising prices in the middle and lower ranges have affected sales. In the first three quarters of last year, 33 single-family properties changed hands for between $5 million and $10 million. This year, that number fell to 25.

Clive Stuart-Findlay of Fite Shavell & Associates

At least part of the reason for that drop is linked to the limited number of new homes available for sale on the North End and in Midtown. Developers — hit hard by the recession years — are today scrambling to get new houses built on speculation into the pipeline, only to be stymied, in some cases, by rising land prices that might affect their profit margins.

In any case, the new homes that are being built are selling for far more than they did at the start of 2013, said Clive Stuart-Findlay, who will be inaugurated Wednesday as president of the Palm Beach Board of Realtors.

“The entry level of a newly built four-bedroom home on the North End starts at about $6 million, which is much higher than it was just 18 months ago,” Stuart-Findlay said.

Third-quarter numbers

The report also compared third-quarter sales figures for this year and 2013. In the single-family segment, 41 houses sold during the first nine months of this year at a median price of $3.78 million. That compares to 39 sold during the same time frame last year, when the median price was $3.2 million.

In a similar comparison of third-quarter condo sales, the number of deals dropped from 77 last year to 62 this year. But median prices were up nearly 30 percent, from $405,500 in 2013 to $523,000 this year.

Evans and his son, attorney Jason Evans, compile the report using data from public records, media reports and multiple listing services. The analysis differs from others prepared or commissioned by real estate agencies, which solely analyze MLS data. As a result, the latter typically don’t include off-the-market sales recorded by the Palm Beach County Clerk’s office, Evans said.

The report can be viewed at LREvansPA.com.

View entire article on the Palm Beach Daily News website.

Tags: , , , , , , , , , , , , , , , , , , ,

Developer finally sells house on Inlet Drive for $6.6 million, deed shows.

Homes for Sale in Palm Beach

By Darrell Hofheinz/Daily News Staff Writer

A four-bedroom home facing the inlet at 167 E. Inlet Dr. has changed hands for $6.6 million. Completed in 2008, property was developed on spec but never found a buyer until this month. Photo courtesy of Robert Stevens.

A waterfront reminder of Palm Beach’s recession years has finally moved off the market to the tune of $6.6 million, according to a deed recorded by the Palm Beach County Clerk’s office.

The four-bedroom house facing the inlet at 167 E. Inlet Drive was developed on speculation and completed in 2008 – the same year that the economic downturn doused the island’s real estate party.

Developer Adam Jackson, who also is a real estate agent at Fite Shavell & Associates, had set the home’s price six years ago at $9.6 million.

After it failed to find a buyer during the downturn, he took it off the market for several years and had lately used it as a rental property. But just as he was planning to relist it for sale, Jackson said, it sold in an off-market deal recorded a couple of weeks ago.

The buyer, the deed shows, is a Missouri limited liability company named Springday LLC, with an address in care of accountant Dennis Walsh of Overland Park outside Kansas City, Kan. No other information about the buyer was available.

Jackson said he couldn’t comment on specifics of the deal, the buyer’s identity or whether or not another real estate agency was involved. Jackson and his father, Alfred G. Jackson of New York City, had owned the house through a company named Ajax Equity LLC.

Adam Jackson of Fite Shavell & Associates

Miami architect Rafael Portuondo designed the home in a modified Dutch South African style with a red roof and twin chimneys. The builder was Laszlo Wagner of the Landfall Group.

The house has a total square footage of about 7,000 square feet, thanks in part of an expansive open-air entertainment area on the second floor. About 4,400 square feet of the home’s interior is under air conditioning.

The property overlooks the inlet and its constant parade of boat traffic.

“We wanted water vistas from as many rooms as possible,” Jackson told the Shiny Sheet in a 2009 article about the house. “We wanted to create something that was not a typical speculative house. We wanted something that was a unique solution to a lot on the water, that would be worthy of Palm Beach – but outside of the box.”

Details include an antique French limestone fireplace on the second-floor deck, Merbau hardwood floors and a swimming pool with sides of Balinese stone.

View entire article on the Palm Beach Daily News website.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

SPECIAL TO FLORIDA WEEKLY Homes for Sale on Hypoluxo Island

Homes for Sale on Hypoluxo Island

Finest details and finishes are offered in this five-bedroom, six-bath home. The 9,754-square-foot European custom waterfront estate is at 1200 SE Atlantic Drive, on Hypoluxo Island.

Living areas have tumbled stone and hewn wood floors, mahogany paneling, cherry wood crown moldings and high ceilings. A gourmet kitchen features includes stainless steel appliances, a large center island, gas range, granite countertops and plenty of custom-built cabinets. A living room with soaring ceilings and beautiful Intracoastal views features a fireplace and built-in aquarium. A billiards room/den paneled with rich mahogany wood offers a wet bar. Each bedroom has its own bath with high-end stone finishes and custom cabinets.

The resort-style backyard features large covered areas, a summer kitchen, sparkling heated pool/spa and a dock.

Hypoluxo Island is located between the Atlantic Ocean and the Intracoastal Waterway on the Gold Coast in central Palm Beach County.

Fite Shavell & Associates lists the home at $4,850,000. Agents are Jack Elkins, 561-373-2198, jelkins@fiteshavell.com, and Bunny Hiatt, 561-818-6044, bhiatt@fiteshavell.com.

View entire article on the Florida Weekly website.

Tags: , , , , , , , , , , , ,

Couple sells North End house finished last year to West Palm Beach man.

Homes for Sale in Palm Beach

By Darrell Hofheinz/Daily News Staff Writer

Completed in 2013, a custom-built home on the North End has changed hands for a recorded $6.6 million. Photo by Jeff Langlois.

In Palm Beach, the demand for new houses is as strong as an ocean rip current. Owners of recently completed custom-built homes are discovering they own prime real estate indeed.

Which might explain at least part of the reason that an Ohio racetrack owner has sold the custom home he and his wife completed last year on the North End at 200 Ocean Terrace. The four-bedroom Bermuda-style house was not on the market when it changed hands for $6.6 million via a deed recorded last week.

Brock E. Milstein sold the property as trustee of a revocable trust in his name. The 6,612-square-foot house was bought by Timothy C. Davidson of West Palm Beach, the deed shows. Davidson is affiliated in business records with a family company named Somerset Capital Partners.

Lynn Warren of Fite Shavell & Associates

Milstein’s trust bought a 1950s-era house on the property from Arthur Oldham II for $1.425 million in April 2011 and demolished it.

Michael Perry of MP Design and Architecture designed the new Bermuda-style house for Milstein and his wife, Kimberley, according to town records. One lot west of the beach, the house stands on a lot measuring a third of an acre, a mile north of the Palm Beach Country Club.

Milstein is chairman of the board Hard Rock Casino Northfield Park, a racetrack with entertainment near Cleveland, and managing director of Milstein Capital Group. His wife is an entrepreneur.

Fite Shavell agents Lynn Warren and Gary Little acted on behalf of the Milsteins. They served that role three years ago when the Milsteins bought the property, opposite Corcoran Group listing agents Elizabeth Cleckner and John Pangborn.

Gary Little of Fite Shavell & Associates

In last week’s deal, Corcoran agent Andrew J. Reynolds represented the buyer, whose parents once lived on the island. The house’s location near the beach was a plus, Reynolds said. So was the fact that it had sophisticated wiring for electronics and a long list of other “custom features” that you might not find in a newer house developed on speculation.

The Milsteins declined to comment, and Davidson couldn’t be reached.

View entire article on the Palm Beach Daily News website.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

SPECIAL TO FLORIDA WEEKLY Homes for Sale in West Palm Beach

Homes for Sale in West Palm Beach

Bamboo Hill was created by Lars Bolander, inspired by plantation architecture and lifestyles from extensive travel to exotic places around the world.

The main house is designed with a large living room, soaring ceilings, and open beams with a series of French doors that open to the terrace and lush gardens, creating seamless flow between interior and exterior spaces.

All bedrooms open to balconies or outdoor areas affording maximum exposure to the exotic tropical gardens. The unique dine-in kitchen is comfortable, casual and elegant, ideally suited for entertaining family and guests.

The home has four bedrooms and 4½ baths and is at 260 Palmetto Lane, West Palm Beach.

Fite Shavell & Associates lists the estate at $4,850,000. Agents are Sylvia James, 561-371-0303, sjames@fiteshavell.com, and Pat McInerney, 561-758-0759, pmcinerney@fiteshavell.com.

View entire article on the Florida Weekly website.

Tags: , , , , , , , , ,

By Darrell Hofheinz/Daily News Staff Writer Townhomes for Sale in Palm Beach

Townhomes for Sale in Palm Beach

Speaking of new construction, agents Toni Hollis and Gloria Moré of Fite Shavell & Associates recently co-listed two townhouses under construction at 176 Sunset Ave.

Developed by Palm Beacher John Flynn Sr. and his son, John Flynn Jr., the luxury project is rising on a former parking lot in a prime location, one parcel east of North County Road and a bit north of the historic post office building. The project should be completed next season.

Hollis and Moré’s listing describes the attached Georgian-style residences as a rare opportunity to buy a “most luxurious” new townhome on the island.

The price falls in line with that description — $6 million for 4,718 square feet of total space that includes four bedrooms, a library and a private 40-foot lap pool. Architect Daniel Menard of LaBerge and Menard designed the project, which is under construction by Wildes Builders. Steve Kvarnberg of KVLA Design is handling the landscaping.

Flynn Sr. and his wife, Leona, have a home on the North End, but the townhouses are the family’s first Palm Beach development. A limited liability company under their control paid a recorded $2.5 million for the lot last December in an off-the-market deal, records show.

The family’s Equity Enterprises USA recently announced plans for a major mixed-use development on more than 6 acres near downtown Delray Beach. The Flynn family also owned the recently closed J. Flynn’s Restaurant on Clematis Street in West Palm Beach.

With strong ties to Ireland, the Flynns are known for their developments in the United Kingdom, where Georgian townhouses are an architectural staple. It’s no surprise, also, that the two Palm Beach townhomes have been christened with names imported from across the pond — Cambridge House and Windsor House.

The project’s website, by the way, includes a nifty animated tour of the project at CambridgeAndWindsorHouses.com.

View entire article on the Palm Beach Daily News website.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
« Previous posts Back to top

> get_footer(); ?>