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March: Letter from Palm Beach: Touch of the Irish

 

Touch of the Irish
Lisa and John Cregan
#1 Ranked Team
at Sotheby’s Palm Beach

Ah, the Irish in Palm Beach. Or as a freckled friend calls us, “God’s gift to Dermatology.”
Despite the melanin challenges, the Irish were among the earliest settlers of Palm Beach. Two centuries after the founding of civilized spots like Boston and Philadelphia, the primary foundation of the south Florida economy in the mid-1800s was literally hunting up wild cattle left behind by the conquistadors and driving them to Tampa for sale to Cuba. It was a wild and wide open time that favored the bold.
None were bolder than “Colonel” ER Bradley (above), a Pennsylvania born child of Londonderry immigrants who made a fortune speculating in horse racing, hotels and real estate before arriving on the scene in Palm Beach. In 1898, he opened The Beach Club, a private gambling casino masquerading as a restaurant. It was the perfect complement to Flagler’s upscale hotels and Bradley plowed his profits back into the community as well as his one true love, horse racing. At his death in 1946, Bradley had won nine Triple Crown races, appeared on the cover of Time magazine and left his Beach Club casino property in trust to the local Catholic diocese!
Our other source of Celtic pride of course is the Kennedy clan out of County Wexford, by way of Hyannis, Mass. With a sharp eye for both real estate value and social prominence, Joe Kennedy Sr. purchased an oceanfront North End home in the deepest depths of the Depression. Over the years, life at 1095 N Ocean Blvd became synonymous with Palm Beach glamor as photographers posted shots of everything from JFK and Jackie heading out of St Edward’s mass for a milkshake at Green’s Pharmacy, to Caroline’s lemonade stand outside the compound’s famous gate.
Although the family sold their home back in 1995, Palm Beachers will forevermore give directions as “up near the Kennedy’s.” And these days there’s no shortage of Kellys and O’Neills in the land of Biddles and Phipps. As my grandmother Bridie DeCourcey would say with a shake of her head, “Who could imagine. The likes of us!”

The Kennedys outside the family home at 1095 N Ocean Blvd

Market Color: Presidential Power

And Action! Apparently All We Needed was Sunny Weather and a Long Weekend.
As we’ve been writing, inventories have nicely replenished from the lows of last year, but partly because sales had slowed. Buyers finally got the message and during a gorgeous President’s Weekend last month one property after another went to contract as seen in the chart (above).
It’s notable though, that this is not some frenzied, multiple offers kind of market. Buyers have more choices and sellers are behaving rationally when presented with solid offers. The average percentage paid versus listing price is holding steady in the low 90’s (below) across all price categories. It’s a solidly attractive market, fair to both buyers and sellers. If you’ve been holding off, it’s time to go looking.

Our Current Listings

*Our New Listing* At Sloan’s Curve
Beach, Tennis and Ocean to Lake Views
Ten Minutes to Worth Avenue

2000 S Ocean Blvd 107-N.
Ideally positioned, sunny south-facing apartment imbues each room with abundant natural light. Broad views from the sweeping terrace draw your gaze east to west, from sunrise over the ocean to sunset over the Intracoastal. 107N features oversized living and bedrooms, with separate wings for both the Master and Guest quarters. This spacious unit also includes a wet bar, powder and laundry rooms. A special feature of 107N is its private spiral staircase that leads directly from the balcony to the pool and beach path, allowing you to seamlessly slip in and out of your oasis.
asking $3.575m

*Our Listing* Boaters’ Heaven
on Oh-So Private Everglade Island
Long Views East and Easy Access to Deep Water

748 Island Drive

748 Island Drive, Palm Beach

$38,000,000

5
Bedrooms
 5
Bathrooms
 5,033
Sq Ft.
An impossible to find waterfront vista- east/southeast facing, with nearly one-half acre of property looking over open water to the estate section. Update the lovely 1950’s era existing one-story house by prominent Modernist architect, Byron Simonson, or live there while making plans to build your dream home. Ideal for boaters looking for quick deep water access, the property is the second from the southern tip of Everglade Island with spectacular long views down the Intracoastal. The current home is in excellent condition with a fully equipped kitchen and 4 bedrooms plus a library with full bath surrounding an interior glassed courtyard. A high-ceilinged living room runs length-wise along the east side of the house, bathed in light, with beautiful views to the water. (video below)
Request A Private Showing

*Our Listing* Perfection on Barton Ave
Beautiful New Renovation on One of Palm Beach’s Finest In-Town Blocks
Five bedrooms, Five baths, plus Office

245 Barton Avenue

245 Barton Avenue, Palm Beach

$17,450,000

5
Bedrooms
 6
Bathrooms
 4,685
Sq Ft.
A truly rare find. A beautiful 2023 renovation of a 5 bedroom house on a larger than average lot on one of the most gracious streets in Palm Beach. Owner just completed a multi-year down to the studs update of this stately white colonial for today’s buyer. The floor plan flows from gracious living room and loggia to large open kitchen and family room, then onto a light-filled downstairs office. Five bedrooms in total- two downstairs and three more on the second floor including the primary. A 32′ long pool, summer kitchen and oversized two car garage complete the picture. All on elegant Barton Avenue, an easy stroll in all four directions- to lake trail, beach, Royal Poinciana and Worth Avenue. There’s no finer location in Palm Beach Cement block construction, new roof, electrical, plumbing and AC plus a full-house generator. Full security and sound systems. Floorplan, Survey, Elevation Cert in the Docs tab
Request A Private Showing

*Our Listing* In the Casual North End
Enticingly Light and Bright Home
One-Half Block to the Beach

255 El Pueblo Way

255 El Pueblo Way, Palm Beach

$10,950,000

4
Bedrooms
 4
Bathrooms
 3,408
Sq Ft.
The perfect blend of historical charm and modern comfort, 255 El Pueblo Way is a 1930s masterpiece by renowned architect Belford Shoumate. Celebrated for his first prize win in architecture at the 1939 World’s Fair and pivotal role in shaping modern Palm Beach design, Shoumate’s work epitomizes timeless elegance, visible in this exquisite property’s beamed cathedral ceiling and bright, sunlit rooms. After a recently completed 2 year renovation, the home has all new AC, roof, wiring, impact glass, a cool motorized pergola and a fresh modern kitchen. Nestled on one of Palm Beach’s popular ‘cabana streets’, just steps from the ocean, this home embodies the casual luxury of the North End.
Request A Private Showing

*Our Listing* Land and Approved Plans
In Historic El Cid

234 Sunset Road

234 Sunset Road , West Palm Beach

$3,675,000


Bedrooms

Bathrooms

Sq Ft.
Opportunity to build new east of Olive Avenue in the heart of El Cid on an 8,700 sqft lot. Listing price is for cleared land with plans for a beautiful 4 bedroom home drawn by Kiko Sanchez of FGS Design. Approved home is 3,642 sqft under AC and 4,000 sqft total. Plans have already been approved by the Historic Preservation Board. They include a gracious master suite with his and her walk-in closets, 3 guest bedrooms with ensuite baths, a long pool with spa and cold plunge and a detached one car garage and summer kitchen. Just bring your contractor.
Request A Private Showing

Our Recent Activity

*Our Listing- Already Pending* High On a Hill
Just North of Palm Beach Country Club
in the North End

937 N Lake Way

937 N Lake Way, Palm Beach

$7,495,000

3
Bedrooms
 3
Bathrooms
 3,533
Sq Ft.
High on a Palm Beach hilltop, this comfortable family home is move-in ready or a blank slate for a buyer’s update plans. Elevation is over 20′, making FEMA guidelines a non-problem for any contemplated renovation. This one-story home has 3 bedrooms, each with en-suite bath, and a light and bright living room and loggia that face on to the pool and surrounding terraces. The master suite is especially inviting with an adjacent study and morning room plus a large walk-in closet and bath. The lot is 11,326 sqft perched on high ground at the corner of quiet Jamaica Lane, convenient to the nearby pedestrian Lake Trail and just 7 minutes by car to the shops and restaurants of Royal Poinciana Plaza.

*Pending* Pristine 3 Year Renovation
In a Fabulous Walk-Everywhere Neighborhood
near Royal Poinciana Way

230 Atlantic Avenue

230 Atlantic Avenue, Palm Beach

$14,750,000

4
Bedrooms
 5
Bathrooms
 4,420
Sq Ft.
This spacious in-town residence has just undergone an extraordinary two-year renovation. Eleven foot ceilings in the main living spaces capture natural light and highlight the space’s pristine contemporary finishes and just-installed wide plank bleached oak floors. A sculptural modern glass railing on the new stairway adds even more sparkle. That kind of careful consideration was applied to every detail-the new kitchen is equipped with top-of-the-line appliances and the primary bathroom is finished like a high end spa. Nothing was left untouched-new bathrooms, new electrical, new AC, new pool terrace and more. A truly stunning finished product and location, location, location. Just one street south of Dunbar and a very short stroll to churches, Publix supermarket, Royal Poinciana Plaza shops and restaurants, the beach and the Lake Trail.
Request A Private Showing

*Pending* In the Heart of Town
Steps to Worth Avenue, Restaurants and Docks
at Island House

354 Chilean Avenue, 0053

354 Chilean Avenue 0053, Palm Beach

$3,200,000

2
Bedrooms
 2
Bathrooms
 1,400
Sq Ft.
Island House is on everyone’s list of favorite close-to-Worth, walk-everywhere buildings. The owners just completed a down to the studs renovation with a top West Coast architect and this unit is sleekly perfect with thoughtful touches everywhere. Open kitchen with dining island, new baths, new electric, new AC, new floors. All rooms have impact glass and new automated shades. Inviting balcony with 5th floor views of the setting sun and the West Palm skyline. Two features particularly beloved at Island House are the lovely poolside entertaining area covered by a chic awning and the lobby level guest suite available for reservation by Island House owners.
Request A Private Showing

Seen Flying High Above Golfview Road Today
Lá Fhéile Pádraig sona daoibh!

🤫…Off Market: We always have “quiet offerings” from homeowners not ready to list their properties.
Be sure we know what you’re looking for!

Lisa and John Cregan
Senior Global Real Estate Advisors

Sotheby’s International Realty
340 Royal Poinciana Way Ste M314 Palm Beach FL 33480

© 2024 Sotheby’s International Realty. All Rights Reserved. Sotheby’s International Realty® is a registered trademark and used with permission. Each Sotheby’s International Realty office is independently owned and operated, except those operated by Sotheby’s International Realty, Inc. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. All offerings are subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Equal Housing Opportunity.
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