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January/February: Letter From Palm Beach: Gift By The Sea

Gift By The Sea
Lisa and John Cregan
#1 Ranked Team at Sotheby’s Palm Beach

At its literal core, Palm Beach is nothing more than a sand-covered reef, 18 miles long and just a few blocks wide.
There’s an ancient coastal ridge that runs down the easternmost side of the island, bolstered by high dunes stitched to the ridge by grasses and seagrape. One of the best spots to see the island in its natural state has always been Phipps Ocean Park in the town’s wasp-waisted South End, and that view is about to get much, much better.
In 1949, the ever-beneficent Phipps family donated 20 acres of then largely empty oceanfront land (image below left) for a public recreation area. It’s been a much-loved spot ever since for beachgoers, cookouts, tennis, but maybe…not all it could have been. That’s about to change.
Powered by the Preservation Foundation in league with The Garden Club of Palm Beach, architects Fairfax & Sammons and the town’s endlessly generous citizens–there’s a new master plan to put the wild and wonderful back in Phipps Ocean Park. Preservation has retained Raymond Jungles, an aptly named star landscape designer, to rethink the park’s paths and plantings– basically to be our our Frederick Law Olmstead in creating a sultry Central Park By-The-Sea.
And what’s coming? Dunes restored and replanted in native species, a 19,000 sqft Great Lawn, expansive wildflower and rain gardens, an amphitheater ringed in stone seating, ongoing programs on coastal preservation and restoration and, at the very top of that old coastal ridge, a pathway with forever views to the eastern horizon.

Market Color: Slowly, Then Suddenly

After a sleepy Summer and Fall and a ho-hum holiday season, the dam suddenly burst. Whether it was the sub-zero temps up north, Massachusetts’ new “millionaire’s tax” or the stock markets finding their footing– on President’s weekend, everything went Pending (chart above).
Long-time agents will tell you February and March are the true selling season in South Florida. Everyone is here, the weather is glorious and buyers have time to go looking. If 2021 and 2022 were aberrations, 2023 represents a return to a normal rhythm. The inventory that built through the fall gave buyers more choices and sellers more motivation. As we’ve been writing, 2023 is a much more even-handed market and the number of properties available (chart below) is reassuring to buyers put off by 2022’s take-it-or-regret-it urgency.
Our own experience mirrors the trend– our January newsletter had to be shunted to the side as we put five listed properties under contract (plus one more that’s a hush-hush off-market).

Recent Activity

*Pending- Our Seller* Four Bedroom Townhouse
Steps to Beach, Restaurants and Shops

160 Sunset Avenue

160 Sunset Avenue 160, Palm Beach

$11,900,000

4
Bedrooms
 6
Bathrooms
 5,210
Sq Ft.
Request A Private Showing

*Pending- Our Buyer and Seller* Waterview 506
Harbor Views, Tennis (and Pickle)

*Pending- Our Seller* Renovation Opportunity in One of Palm Beach’s Best – Winthrop House

100 Worth Avenue, 421

100 Worth Avenue 421, Palm Beach

$2,340,000

2
Bedrooms
 2
Bathrooms
 1,622
Sq Ft.
In one of Palm Beach’s most sought after buildings, a chance to create your own interior spaces. Beautiful views west to the Colony Hotel and magical sunsets, or east across the most enticing pool and gardens of any in-town building. Full impact glass and sliders that were recently installed. One year old HVAC and water heater. Plus all the features owners love about Winthrop House– gracious common areas, a large fitness center, the famed tunnel to the beach– and of course, that pool! Plenty of time to purchase now and plan your summer renovation.
Request A Private Showing

*Closed – Our Buyer* A Bright and Fresh Renovation on a Quiet Block in SoSo

Our Current Listings

*Our Listing* Beachy North End Lifestyle Renovated and Ready for Move-In

255 El Pueblo Way

255 El Pueblo Way, Palm Beach

$14,900,000

4
Bedrooms
 4
Bathrooms
 3,723
Sq Ft.
This exceptional 1939 Belford Shumate home has been re-imagined and updated by architect Pat Segraves and designer Alessandra Branca. Renovation all but complete – new roof to be installed mid-March. The 4BR/4BA Bermuda style house sits on a prime North End block with a neighborhood beach terrace at one end and Lake Trail access at the other. The house features vaulted beamed ceilings, an open-plan, indoor-outdoor kitchen/dining area where sliding glass doors open out to a 25′ pool. In the new eat-in kitchen, French doors lead to an open-air breakfast garden. The new cypress paneled family room overlooking the pool could easily be converted to a downstairs primary bedroom suite complete with a 15’x20′ terrace shaded by a louvered pergola. This sun-filled house brings the outdoors in with large picture windows looking onto a tropical landscape planned by Keith Williams of Niervera Williams on a 12,600 sqft lot. The thorough renovation includes new roof, impact windows, new air conditioning, electrical, security, and sound systems while preserving the home’s charming original details. If you’re looking for new construction on a quiet street (you can hear the ocean) with the romance of old Palm Beach, this is a must-see
Request A Private Showing

*Our Listing* 153 Kings Road Estate

153 Kings Road

153 Kings Road, Palm Beach

$18,950,000

5
Bedrooms
 9
Bathrooms
 6,043
Sq Ft.
One of the most gracious homes in Palm Beach’s estate section. On a quiet block between the lake and the ocean, 153 Kings Road was custom built in 2009 in collaboration with renowned London interior design firm Colefax and Fowler and respected architect Thomas Kirchhoff. This 5 bedroom, 6 bath home opens with a breathtaking double-height foyer, then fans out into 10-foot high ceilinged rooms with stunning millwork. The thoughtful layout can suit a large family but works for empty nesters too. This is a home that must be seen in person to fully appreciate. Tall French doors in the expansive living room open on to an elegant pool terrace. A well-equipped chef’s kitchen is conveniently adjacent to the combined family room/dining nook. Separate his and her marble-clad bathrooms and closets grace the luxe primary suite. Upstairs and downstairs home offices, a classic butler’s pantry with designated storage for linens and serving pieces, an elevator, generator, outdoor shower and powder room are just some of the home’s very special amenities.
Request A Private Showing

*Our Listing* Exquisite New Home on the West Palm Waterfront

2305 S Flagler Drive

2305 S Flagler Drive, West Palm Beach

$24,900,000

4
Bedrooms
 6
Bathrooms
 7,314
Sq Ft.
Heaven on the El Cid waterfront. Impeccable 2020 new construction with exquisite attention to detail, every modern luxury and unimpeded water views from 1st and 2nd floors. On an almost 19,000 foot corner lot-beautifully landscaped by Nievera Williams-the house is an elegant contemporary take on classic Palm Beach architecture with iron-look windows, handmade Mexican roof tiles and waxed plaster walls. Downstairs master bedroom with water views, generous closets and bath. Two upstairs bedrooms and baths with an inviting shared terrace can be reached by stair or elevator. In the front yard, a 52′, two lane lap pool sits off the electric screened terrace. To the rear is a guest house/gym/office with full bath. And the 3 bay garage fitted with 2 lifts can accommodate up to 5 cars. See Home Features in Documents. Literally too many to list. But for a few- 10′ ceilings, working marble fireplace, Wolf 5 burner gas stove and an induction cooktop, Miele double-ovens, 2 Miele dishwashers, side-by-side Sub Zero fridge with 4 freezer drawers, outdoor shower, full house gas generator, pool heater AND chiller, trunk storage room off elevator, gas fire pit off master bedroom, Lynx summer kitchen with gas grill and rotisserie, Smart Home controls throughout, motorized sun and blackout shades, 2nd laundry room in garage, electric vehicle charger. All that and a shared neighborhood day-dock between Valencia and Sunset. Virtual Tour available via Matterport – see 2nd photo in listing
Request A Private Showing
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