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September/October: Letter from Palm Beach: And We’ll Have Fun, Fun, Fun…

And We’ll Have Fun, Fun, Fun…
Lisa and John Cregan
Ranked #1
at Sotheby’s Palm Beach

Thirteen Halloweens ago, we arrived in Palm Beach as automotive innocents, incapable of distinguishing a Fiat Jolly from a Jolly Rancher. We were Midwestern naïfs who considered the lone Rolls Royce in Lake Forest, Illinois an exotic car. Admittedly, the Rolls really was a rarity in the Chicago suburbs. The owner even kept a jar of Grey Poupon in the glove box– ever ready for wisecracking teenagers.
So add to our “Unexpected Palm Beach” list the town’s lively car culture. It’s not LA with its restored Corvette Stingrays or New York and its ubiquitous black chauffeured SUVs. The Palm Beach auto vibe is best described in one word – “fun!”
Sure, we have Aston Martins, Bentleys and Ferraris the way most cities have yellow cabs. But it’s the sheer everyday wackiness seen on Palm Beach’s streets we enjoy. Road-ready personalized golf carts, vintage crop-top Ford Broncos, flying pig hood ornaments, “diver down” door striping and every conceivable generation of “series” Defender. But our personal favorite is the Fiat Jolly, a 1960’s Italian confection that offered a convertible option with wicker seats and fringed top– it maxes out at 52 mph (above). It’s a smile on wheels.
The other irrepressible smiles go to Palm Beach’s off-beat fleet of colorful Mokes. Originally designed for the British army with parts from the Morris Mini, the Mini Moke became a Caribbean mainstay beloved by American tourists. The version seen today on the streets of Palm Beach is a new electric driven design– all of the flair, none of the unreliability. The beauty pictured below is owned by a nice Midwestern girl who’s gone all-in on the Palm Beach lifestyle and is planning to upsize here. Buy her apartment from us and she’ll throw in the Moke!

Market Color: Restocking the Shelves

We don’t know what conversations took place around the beach bonfires up north this summer but, come Labor Day, the Palm Beach market reacted like someone fired off a starter’s pistol. The buyers are back.
We think with all the chatter last year about higher rates and a coming recession, buyers, quite rationally, sat back waiting for home prices to crash. Well, that never happened. But prices did stabilize, new listings and inventory built a bit (below) and sellers became a little more pliable. With another winter approaching, buyers seem to have decided that will have to do. Showings are way up and our listings, both houses and condos, are going to contract as seen in the Market Activity section of our letter. As we head into the season, it’s an all around healthier, fairer market.

Our Current Listings

*Our Newest Listing* In-Town, Just Renovated
This is NOT Your Mother’s Mediterranean

230 Atlantic Avenue

230 Atlantic Avenue, Palm Beach


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

*Our Listing* In the Fun and Fabulous North End
Half-Block to both Beach and Lake Trail

North End “Cabana Street”

255 El Pueblo Way, Palm Beach


Sq Ft.
This EXCEPTIONAL 1939 home has just been dazzlingly updated by architect Pat Segraves. Natural light pours in from tall windows and a mature tropical landscape anchored by an amazing mango tree comes into view the moment you open the door. Sited on a prime North End block with a neighborhood beach terrace at one end and Lake Trail access at the other, this 4BR/4BA Bermuda style house is casual family beach living at its best! Airy vaulted beamed ceilings, sliding glass doors that open on to a 25′ pool, a brand new eat-in kitchen off of a lovely breakfast garden and a new cypress-paneled family room that could easily be converted to a downstairs primary bedroom suite, complete with its own terrace shaded by a louvered pergola. 12,600 sqft lot. The thorough renovation includes new roof, impact windows, air conditioning and electrical systems while preserving the home’s charming original details.
Request A Private Showing

*New Listing for Rent* at Major Alley
Layers and Layers of Palm Beach Charm

Major Alley #3

417 Peruvian Avenue #3, Palm Beach

$24,000 Per Month Seasonal

Sq Ft.

No more perfect Palm Beach experience than a stay on Major Alley. One of only six homes in a landmarked ”alley” built in Palm Beach’s golden age, among the finest work of architect Howard Major. This unit is the second in from Peruvian Avenue, one bedroom, a paneled living room with soaring ceilings, full bath plus a powder room- and a 900 sqft outdoor walled terrace and gardens. One street north of Worth Avenue restaurants and shopping. Lake Trail and Town Docks just steps away. An intimate setting that’s simply overflowing with charm. Available for seasonal lease.

Rental Terms:
Annual: $24,000 Per Month

Request A Private Showing

*New Listing* Elegantly Furnished 2 bedroom
for Lease in Waterview Towers

400 N Flagler Drive, 1604

400 N Flagler Drive 1604, West Palm Beach

$17,500 Per Month (annual)

Sq Ft.

A beautifully furnished apartment at just the right height for eye-catching views of The Breakers, the ocean and the rosy sunset glow of Palm Beach island. A very comfortable unit with really attractive decor. White and bright with a well-outfitted kitchen and a guest room that can be either den or bedroom as suits the tenant. Then all the wonderful features of Waterview Towers- pool, tennis, pickle, fitness, parking valets and outstanding security. Available for annual or seasonal lease.

Rental Terms:
Annual: $17,500 Per Month for annual rental

Request A Private Showing

*Our Listing* Exquisite Recently Built Home
On the El Cid Waterfront

2305 S Flagler Drive

2305 S Flagler Drive, West Palm Beach


Sq Ft.
A romantic waterfront paradise. Pristine, extraordinarily detailed, 2020 construction with unimpeded water views from both the first and second floors. This home’s condition is the definition of ”impeccable.” 19,000 square foot lot beautifully landscaped by celebrated designer Keith Williams. A 52′ lap pool sits off the electric screened terrace. Mexican roof tile and dappled waxed plaster walls are a nod to classic Palm Beach architecture within a clean contemporary envelope. Luxurious downstairs primary bedroom with long Intracoastal views. Two second floor bedrooms with full baths and an expansive upstairs terrace reached by stair or elevator all enjoy sweeping water views. Separate guest house can be used as a gym. 3 bay garage is fitted with lifts and can accommodate up to 5 cars
Request A Private Showing

*New Listing – Pending* Incomparable Views
14th Floor and the Trianon “01” Line!

The Trianon #1401

1200 S Flagler Drive 1401, West Palm Beach


Sq Ft.
Beautiful ’01’ line unit facing directly east across the yachts of the Palm Beach Town Docks to the rolling Atlantic Ocean. Apartment is in impeccable condition, completely renovated in 2021 with all new kitchen appliances, a wine cooler, refreshed baths with new vanities, new tile flooring and a new in-unit washer/dryer. Plus you get the vaunted ’01’ line kitchen window! The Trianon has been transformed these last few years. The building just completed a multi-year renewal with a new roof and new balconies and impact glass throughout. There are upcoming plans to refresh the hallways and common areas, as well as create a new fitness center. It’s an all new Trianon! All this just a quick stroll or drive across the Royal Palm Bridge to the Four Arts and Worth Avenue.
Request A Private Showing

Our Recent Activity

*Pending- Off-Market- Our Buyer* In SoSo
A Cool, White and Modern New-Built Home

334 Murray Road – West Palm Beach Welcome to the Modern Farmhouse on Murray Road. This 2023 new construction home in the heart of the SoSo neighborhood was recently completed by premier builder, Sam Fisch Development, and designed by award-winning architect, Alejandro Borrero. The home boasts 5 bedrooms, all with en suite baths, and 5,500 sq ft of indoor and outdoor living. The home centers around its unique zen garden and has a thoughtfully-balanced mix of modern design elements with top-of-the-line finishes, including a fully-integrated Sub-Zero and Wolf appliance package, Control 4 home automation sound and lighting system, and heated pool and spa.
Last Asking $5.545m

*Sold – Off-Market- Our Buyer* Breakers Row and 180 Degrees of Ocean View (see video!)

2 N Breakers Row N-T2 Services at Breakers Row are legendary, but the location might be even better – after all it is where Palm Beach’s founding father, Henry Flagler, chose to site his hotel. We think this 3,000 sqft, 3 bedroom unit may be in the choicest position of all. An oceanfront “lanai” unit with huge terraces and open lawn looking across the top of the tall dunes to the broad Atlantic.
Last Asking $10m

*Sold Off-Market- Our Seller* Light and Bright
2020 Construction, with a Pool to Die For!

596 N County RoadStunning new two-story home (2020) designed by Nelo Freijomel, 5 BR, 6.5 baths, on deep lot in the near north end. High ceilinged, first floor master suite with separate his/her baths and closets opens directly on to Mario Nievera designed garden, pool and spa featuring LED lighting and embedded stars in floor of the pool. Brilliantly lacquered cathedral ceiling crowns a chef-designed kitchen and family room, outfitted with Sub Zero appliances and a generous wine closet. Large loggia features retractable screens, fireplace and TV for outside dining and entertaining. Euro Wall opens to living room to create amazing entertaining spaces. Under-lit Seaglass bar is a magnet for guests and family alike. Steps away are Lake Trail, beach access, and N. County.
Last Asking $14.95m

*SOLD – Our Listing* 168 Kings Road
Classic Palm Beach Estate Section Regency

Estate Section Beauty on 17,000 sqft Lot

168 Kings Road, Palm Beach


Sq Ft.
Classic Palm Beach Regency home, designed in 1959 by Henry Harding, on a very generous 16,500+ sqft estate section lot. Meticulously renovated and maintained with full impact glass, a new two car garage and wine storage topped by a guest/staff quarters apartment. The home features 11-12′ ceilings, multiple spaces for entertaining and guests, and as many as 5 bedrooms with en suite baths depending on a buyer’s needs. First floor primary bedroom features his/her baths and closets. And the oversized lot allows room for a gracious auto forecourt, large pool and airy backyard.
Request A Private Showing

*Sold – Our Buyer* South End on the Beach
A Big Two Bedroom with 6th floor Ocean Views

3440 S Ocean Blvd 608N- Oceanfront, top floor of the Halcyon’s north building. Stunning ocean and intracoastal views! 2 bedroom-2 bath condo with east and west facing balconies. Marble floors throughout, new custom electric blinds and hurricane impact glass sliders. The master suite has access to both terraces, with sunrise and sunset views. 24/7 doormen, 2 tennis courts, underground garage parking, fitness center, professional management, resort style pool & spa and easy access to the beach.
Last Asking $1.99m

And a Big Thank You to All Our Clients & Friends
for a Great 3rd Quarter 🥂

Shhh…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

© 2023 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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