Late in 2011, the most expensive home of Palm Beach, Florida, came onto the open market with an asking price of $74 million. Sitting unclaimed for more than a year, the mansion has finally found a buyer, who apparently snagged it for a great 43 percent discount, paying just $42 million for the luxe pad.
This sale is definitely one of the bigger deals of Palm Beach. Though properties with larger prices have sold and been purchased, this transaction happens to be the biggest deal of the year until now.
According to the Wall Street Journal, the buyer of the posh pad is "a very nice couple" who loved the size and interiors of the property.
Listing records of the home state that the residence is a huge 27,355 square feet sitting on a 2.5 acre gated and private lot. Located at Billionaire's Row, the home is a lovely water-front residence and has ample recreation areas and beautiful outdoors. The single family residence has nine bedrooms and seventeen bathrooms.
Interiors of the home boast of marble, stone tiled flooring along with wood beamed ceilings, French and cathedral style doors and windows. Living spaces include large living and family rooms. The house also has a modern kitchen, a wine cellar with custom-cabinetry, master bedrooms ensuite with bathrooms and a spa. Outside, the home has an outdoor kitchen, multiple loggias, an infinity pool and vast stretches of greens. It also has a 17-car garage.
The listing describes the home as:
"This investment grade opportunity is at the top of its asset class and is located in Palm Beach, America's most prestigious resort. Simply one of the most beautiful and exclusive waterfront estate homes ever built on the Island of Palm Beach. This French inspired masterpiece, completed in 2011, is located along storied Billionaire's Row, and is minutes from world famous Worth Avenue, shopping, restaurants, private clubs, and world class marinas and is just four miles to Palm Beach International Airport and the private jet terminals. Gracefully sited on 2.5 private and secure acres, this elegant and refined residence is positioned well back on the property, creating a classic and very impressive entry progressing from the decorative iron gates past sculptured gardens and fountains, to a broad motor court. In over 20,000 SF of living with an additional 7,000 SF of loggias, garages & guest house, the estate is defined by exquisite craftsmanship, impeccable attention to every detail and is calibrated for 21st Century living. An art collector's dream showcase home. Dockage. Separate service entry gate with generous onsite parking. This is an important property."
Check out the photos of the home, here.
Palm Beach has been in the news for some time now. Recently, it was rumored that Howard Stern had purchased a home in the area. Dmitry Rybolovlev is also planning to renovate his $95 million "mold-clad" palace that he purchased from Donald Trump in 2008.
