There are currently nine single-family direct oceanfront homes for sale in Highland Beach, Palm Beach County, Florida according to Beaches Multiple Listing Service (MLS). All of the luxury oceanfront listings are located on the east side of A1A. Six of the homes are not governed by a Homeowner’s Association (HOA) and three have mandatory HOA fees.

2455 South Ocean Boulevard is located in the Estate Section of Byrd Beach and offers 151 feet of direct ocean frontage with 542 feet of depth. This brand new estate built by Mark Timothy, Inc. has 8 bedrooms, 10.3 baths, 17,502 square feet under air and 23,625 total square feet. Designed by Madey Architects New York and professionally decorated by Mark Michaels Interiors, features include three total stories, a two-story foyer and living room, formal dining room, gourmet kitchen with butler’s pantry and wine room, billiard room, master suite, stone fireplace, library, gym and home theater. The gated compound is professionally landscaped and includes pool with spa and cabana, outdoor loggias and patios, decorative driveway and motor court. Additional features include elevator, whole-house generator, impact windows and doors, Smart house electronics, six car garage plus covered parking and caretaker’s cottage. The oceanfront estate is offered furnished and is currently listed for $31.9M.

3901 South Ocean Boulevard offers 100 feet of direct ocean frontage and 100 feet of frontage on the Intracoastal Waterway (parcel across street included). Built in 2010, the residence has 8 bedrooms, 11.6 baths, 15,141 square feet under air and 19,416 total square feet with a guest house that was built in 2008. Features include two stories, marble and hardwood floors, fireplaces, open living areas, gourmet kitchen and family room, office, master suite, home theater, gym, elevator, multiple balconies, 9 garage spaces, and a roof-top deck with loggia with summer kitchen and spa. Located on 2.4 acres, the grounds include lush tropical landscape, pool and patio, and a private wooded mangrove preserve and dock on the west side of A1A. The oceanfront estate is currently listed for $19.5M.

2435 South Ocean Boulevard is located in the Estate Section of Byrd Beach and offers 125 feet of direct ocean frontage with 537 feet of depth. Built in 1994, the residence has 7 bedrooms, 11.2 baths, 12,874 square feet under air and 19,806 total square feet. Features include two stories, grand foyer gallery, formal living and dining rooms, gourmet kitchen, family room, full entertainment bar and casual media den, master suite, billiard room and bar, office, full gym, sauna, batting cage, bonus room, mechanical room and generator, separate guest house, and 8 car garage. The gated grounds are complete with manicured lawns, courtyards, koi ponds, pool with spa, open terraces and decorative driveway with motor court. The oceanfront estate is currently listed for $15M.

9 Ocean Place is located in the gated Highland Beach oceanfront community of Ocean Place Estates and offers 64 feet of direct ocean frontage. Built in 2001, the residence has 5 bedrooms, 8.1 baths, 8,249 square feet under air and 13,291 total square feet. Features include four stories, marble and hardwood floors, gourmet kitchen, library, master suite, home theater, game room with full bar, and 6 car garage. The manicured yard is complete with a private pool and stairway to the beach. Ocean Place Estates has a mandatory HOA which is currently $1,916.67 per month (as per MLS). The oceanfront estate is currently listed for $9.5M.

11 Ocean Place is located in the gated Highland Beach oceanfront community of Ocean Place Estates and offers 100 feet of direct ocean frontage. Built in 1993 and renovated/remodeled in 2014, the residence has 5 bedrooms, 6.1 baths, 8,364 square feet under air and 10,391 total square feet. Features include three stories, marble and hardwood floors, grand foyer with split stairway, volume ceilings, den with full wet bar, eat-in kitchen, family room, master bedroom, elevator, fireplace, decorative driveway, 3 car garage and several balconies. The gated yard features a private pool with open terrace and stairway to the beach. Ocean Place Estates has a mandatory HOA which is currently $2,589 per month (as per MLS). The oceanfront estate is currently listed for $8.999M.

2475 South Ocean Boulevard is located in the Estate Section of Byrd Beach and offers 100 feet of direct ocean frontage with 413 feet of depth. Built in 1957, the one story residence has 5 bedrooms, 5.1 baths, 3,076 square feet under air and 4,206 total square feet. This property is being sold for land value/As Is. Existing home with newer roof, pool and cabana can be renovated or torn down. The oceanfront estate is currently listed for $8.95M.

4111 South Ocean Boulevard offers 100 feet of direct ocean frontage. Built in 1992, the residence has 5 bedrooms, 5.1 baths, 5,457 square feet under air and 7,137 total square feet. Features include two stories, marble floors, volume ceiling, formal living room with stone fireplace, gourmet kitchen with Miele appliances, family room, master suite with private loggia, den with full bar and fireplace, and en suite guest rooms. Other features include pool with spa and open patio, new impact doors and windows, full circular drive and 4 car garage. The oceanfront estate is currently listed for $8.9M.

7 Ocean Place is located in the gated Highland Beach oceanfront community of Ocean Place Estates and offers 75 feet of direct ocean frontage with 178 feet of depth. Built in 1995 and completely remodeled/decorated by Marc Michaels Interiors, the residence has 4 bedrooms, 5.2 baths, 6,264 square feet under air and 8,939 total square feet. Features include four stories, marble floors, volume ceilings, spiral staircases, contemporary kitchen open to family room, library, master suite, theater, elevator, fireplace, decorative driveway, 3 car garage and several balconies. The yard features a private pool with spa, decorative terrace and covered outdoor living room. Ocean Place Estates has a mandatory HOA which is currently $2,500 per month (as per MLS). The oceanfront estate is currently listed for $6.995M.

4005 South Ocean Boulevard offers 100 feet of direct ocean frontage with 250 feet of depth. Built in 1966, the original ranch-style residence has 5 bedrooms, 3 baths, 3,032 square feet under air and 3,584 total square feet. Features include split-level entry, tile floors, updated kitchen, circular drive, 2 car garage and back yard. The oceanfront estate is currently listed for $4,999,999.

There are currently three single-family direct oceanfront homes that are under contract according to Beaches Multiple Listing Service (MLS).

3621 South Ocean Boulevard is currently listed as ‘œBackup’ in MLS and is listed for $11.5M

4011 South Ocean Boulevard is currently listed as ‘œContingent’ in MLS and is listed for $9.995M (furnished).

3567 South Ocean Boulevard is currently listed as ‘œPending’ in MLS and is listed for $5.395M (furnished).

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The Palm Beach Daily News provided a few talking points regarding the Palm Beach real estate market in its October 18, 2015 edition of The Shiny Sheet.

Palm Beach’s real estate issues parallel not only the Hamptons and other parts of New York, but also Telluride, CO; Jackson Hole, WY; Greenwich, CT; and Beverly Hills, CA. These markets rely on the same customer base, lately led by hedge funders and billionaire financiers. While luxury housing markets across the country are experiencing rising prices and limited inventory, Palm Beach has the advantage of Florida’s favorable tax picture and homestead laws that can help to keep property taxes manageable for those who establish primary residency. Tax incentives are attracting more buyers who see Palm Beach as a primary tax shelter instead of just a warm-weather retreat.

Palm Beach Brokers and agents know that limited inventory is not a challenge when everything is said to be for sale, depending on the right offer. Off-market deals are not uncommon to Palm Beach where luxury real estate agents know how to get the job done.

There are currently 17 MLS-listed properties in Palm Beach priced at $24 million or more. That number is up from only 9 listings two years ago at this time. The current highest priced listing is an $84.5 million dollar new construction mansion at 1071 North County Road.

The rising price of buildable lots/tear downs is hitting developers’ profit margin. It is currently impossible to buy an outdated North End house in Palm Beach on a buildable lot for less than $2 million.

New development in Palm Beach is not only providing a psychological boost to buyers and sellers alike, it is also replacing the aging housing stock with brand new state-of-the-art homes. Higher elevations and strict building codes also result in a more hurricane-resistant home.

Palm Beach is not immune to global headaches. Wall Street, Mideast worries, and troubled economies across the world can have an impact. Although Palm Beach’s real estate market is tied to the world economy, one longtime local real estate broker thinks Palm Beach is getting closer to a healthier, more reasonable market for both buyers and sellers.

If you are interested in the Palm Beach luxury real estate market, please contact Randy Ely and Nicholas Malinosky; the #1 Luxury Team in the Beach Area.
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The Douglas Elliman Real Estate just released its third quarter report for residential real estate sales that closed from July 1st to September 30th. This detailed analysis reflected a continued healthy market with more closed sales, a demand for inventory and record prices.

According to the report, Third Quarter 2015 had 4,087 closed sales, a 3% increase from Third Quarter 2014 and the third highest number of closings in the last two years. Signed contracts were up 11% from last year leading to one of the strongest summer selling seasons in the last five years.

New development activity was a major contributing factor in the increase in closed sales. Presales from 2013 and 2014 are now completing construction allowing units to close and residents to move in. The increasing presence of new development in Manhattan will continue to drive closed sales activity over the next several years.

With so many new development sales, the median price for an apartment in Manhattan reached $999,000, a ten year high. The median price per square foot is no $1,284, up 11% from 2014.

For the fourth time in the last ten years, the number of properties available for sale in Manhattan fell below 5,000. Increasing sales combined with decreasing inventory has resulted in the rise of sales prices.

The overall median price was up 12% year-over-year to nearly $1 million, its highest level in more than ten years, and averages price increased 4% year-over-year to $1.714M.

If you are interested in the Manhattan real estate market, please contact Randy Ely and Nicholas Malinosky. They enjoy networking with Corcoran’s finest luxury real estate agents in New York City. Whether looking to sell or buy, Randy and Nick welcome the opportunity to assist you with your Florida and New York real estate needs.
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A new waterfront listing just hit the South Florida luxury real estate market. The beach area estate located at 4325 Tranquility Drive in Highland Beach, Florida was listed in the Multiple Listing Service on October 19, 2015 for $2.795M. The two story residence is also featured on Corcoran.com, Zillow, Trulia and Realtor.com.

This Highland Beach waterfront estate is just off A1A on the exclusive island of Bel Lido Isle with 115 feet of direct deep waterfrontage and an 80+ foot dock. Meticulously maintained, many of the amenities are in pristine, brand new condition. Features include abundant natural light and stunning tropical views of the pool, lush landscape and water; spacious first floor master wing which opens to the patio and pool; fantastic open kitchen and family room; four additional en suite guest room; and large balcony overlooking the pool and water. The grounds offer lush tropical landscape surrounding the pool and spa with cabana bath. Incredible dockage with power and water for large watercraft with easy ocean access nearby. Impact doors and windows, security system, central vacuum, and large three car garage. An incredible boating community, Bel Lido Isle is one of the most sought after waterfront communities complete with beach access across A1A and unparalleled security patrol. Many of the appliances are brand new and have never been used and four bedrooms including the master suite have never been occupied. All air conditioners are under warranty and roof was also replaced and is currently under warranty.

This amazing waterfront residence is exclusively listed by Randy Ely and Nick Malinosky of the Douglas Elliman Real Estate. REAL Trends/Wall Street Journal, The Thousand recently ranked Randy and Nick as #1 in Florida and #9 in the nation for Top Team Average Sales Price of $8.17M. Their current luxury listing inventory includes not only 4325 Tranquility Drive, but also a beach area estate in Gulf Stream (330 Banyan Rd) and another in Delray Beach (1202 Vista del Mar Dr N). Randy and Nick closed 916 Bermuda Gardens Dr on September 4, 2015.

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There are currently two single-family direct oceanfront homes for sale in Ocean Ridge, Palm Beach County, Florida according to Beaches Multiple Listing Service (MLS). Both of these luxury oceanfront estates are located in the Estate Section of Ocean Ridge and are not governed by a Homeowner’s Association.

6125 North Ocean Boulevard by Mark Timothy Inc. is currently under construction and offers 115 feet of direct ocean frontage with approximately 300 feet of depth. Scheduled to be completed in 2016, the residence will have 5 bedrooms, 8.2 baths, 10,199 square feet under air and 12,769 total square feet. Features include an open floor plan, gourmet kitchen, family room which opens to two covered loggias, formal living and dining rooms, game and billiard room, his and her offices, bar and wine room, second floor master suite with his and her closets and baths, en suite guest rooms, loft, and unfinished space above four-car garage which can be converted to two additional bedrooms, gym, theater or whatever the client desires. The gated compound will feature professional landscaping, oceanside pool and spa with cabana bath, and outdoor loggias and terraces for entertaining. Other features include elevator, lighting and security systems, and full house generator. Designed by Affinity Architects, the home will be professionally decorated by Marc Michaels Interiors. The oceanfront estate is exclusively listed by Randy Ely and Nicholas Malinosky and is listed at $17.95M. Read More

The four most expensive homes currently listed for sale in Beach Multiple Listing Service (MLS) are all located on the island of Palm Beach, Florida. Three of the luxury waterfront estates are oceanfront and one is direct Intracoastal. None of the properties are governed by a mandatory homeowner’s association.

1071 North Ocean Boulevard offers approximately 240 feet of direct ocean frontage. The brand new residence is currently under construction and will offer 8 bedrooms, 7.1 baths, 32,661 square feet under air and 35,993 total square feet. Features will include a grand salon, dual ocean balconies, massage room, bowling alley, home theater, pub room, game room, library, and 8 car garage. The expansive grounds will include an oceanside pool. The oceanfront estate is currently listed for $84.5M.

1485 South Ocean Boulevard offers approximately 300 feet of direct Intracoastal frontage. Built in 2000, the residence has 7 bedrooms, 9.2 baths, 15,398 square feet under air and 22,164 total square feet. Features include wide water views and a combination of old world elegance and modern amenities. The gated compound has spacious grounds and a waterfront pool. The Intracoastal estate is currently listed for $67.5M.

89 Middle Road is located on over 4 acres with direct oceanfrontage. The oceanfront compound is comprised of two main residences plus three guest/staff houses with a total of 10 bedrooms, 11.4 baths, 17,874 square feet under air and 20,852 total square feet. One main residence was designed by Addison Mizner and built in 1921 with 5,541 square feet. The other main residence was designed by Wyeth with 12,712 square feet. The compound features manicured lawns and established landscape. The oceanfront estate is currently listed for $59M.

640 South Ocean Boulevard is located across the street from the ocean with unobstructed views. Built in 2013, the residence has 8 bedrooms, 9.3 baths, 11,735 square feet under air and 15,721 total square feet. Features include marble and wood floors, oceanfront balcony, and covered poolside loggia with fireplace. The manicured grounds include a pool and terrace with landscaped green spaces and yard. The oceanfront estate is currently listed for $42.9M.

If you are interested in these Palm Beach waterfront estates or any other luxury beach area real estate opportunities in South Florida, please contact Randy Ely and Nick Malinosky; The #1 Luxury Team in the Beach Area. Read More

A national sales report released this week by NRT owned Coldwell Banker Previews ranks Miami Beach #5, Delray Beach #13 and Palm Beach #16 for the highest number of luxury homes sales closed at $10M or more during the 12 months that ended June 30, 2015 based on Multiple Listing Service (MLS) data.

Delray Beach made its first appearance on the list taking the 13th slot with 8 sales that sold for $10M or more, the highest price category. Palm Beach also made its first appearance in the top 20 at #16 with 7 sales.

The report suggests that the economic fundamentals boosting South Florida’s luxury real estate market are also driving luxury housing markets across the United States.

The top five cities are as follows: New York City was ranked as #1 with 217 sales that sold for $10M or more; Beverly Hills was ranked #2 with 34 sales; Los Angeles was ranked #3 also with 34 sales; Aspen was ranked #4 with 24 sales; and Miami Beach came it at #5 with 20 sales. Another Florida city made the top ten with Naples ranked #7 with 20 sales.

Palm Beach also ranked 14th on the list of sales recorded between $5M and $10M with 36 transactions. New York City also led the $5M to $10M category with 786 sales; Los Angeles came in 2nd with 130 sales; Beverly Hills ranked 3rd with 111 sales; Miami Beach came in 4th with 87 sales; and Naples rounded out the top 5 with 79 sales. Boca Raton made the $5M to $10M category at 17th with 32 sales.

The report also ranks cities based on number of active listings in similar price ranges. Palm Beach and Miami Beach both made the top 20 with Miami Beach coming in at #2 behind New York City.

Coldwell Banker’s southeast Florida senior regional vice president, Duff Rubin believes Palm Beach’s presence in the top 20 supports an overall trend. Rubin stated that ‘œthe affluent are considering Florida as a destination for primary homes rather than vacation residences, drawn by the climate and state’s favorable tax picture’.

The report does not take into account properties that sold but were not listed in the MLS. As luxury real estate agents know, high-end properties are often sold without being published in MLS in order to meet a client’s request.

Coldwell Banker is owned by NRT which also owns the Douglas Elliman Real Estate and Sotheby’s International Realty. Read More

There are currently three single-family direct oceanfront homes for sale in Gulf Stream, Palm Beach County, Florida according to Beaches Multiple Listing Service (MLS) and one additional home available for sale that is not in MLS at this time. All four of these properties are in the town of Gulf Stream and are not governed by a mandatory homeowner’s association.

2817 North Ocean Boulevard offers 200 feet of direct ocean frontage with 288 feet of depth. Built in 1926, the residence has 6 bedrooms, 10.3 baths, 9,081 square feet under air and 12,623 total square feet. Originally designed by Addison Mizner and completely restored in 2009, features include limestone floors, cypress cathedral ceilings, gourmet kitchen, elevator, impact glass mahogany windows, rooftop terrace, dance studio, gatehouse, garden house and many antique and restored original finishes. The gated and professionally landscaped compound is complete with courtyards, terraces and pool with cabana, changing pavilions and steam room. The oceanfront estate is currently listed for $24.9M.

1275 North Ocean Boulevard offers 135 feet of direct ocean frontage with 507 feet of depth. The brand new residence by Seaside Builders has 6 bedrooms, 6.3 baths, 8,915 square feet under air and 11,304 total square feet. Professionally decorated and offered furnished, features include entry foyer with dual grand staircase, formal living and dining rooms, gourmet eat-in kitchen, first floor master suite with sitting room and oceanfront loggia, fireplaces, hardwood and marble floors, elevator, and custom finishes and millwork throughout. The gated compound is professionally landscaped and includes a 50 foot seaside pool and covered loggia. The oceanfront estate is currently listed for $19.75M and is exclusively listed by Randy Ely and Nick Malinosky. Read More