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Fantastic Flip? After Selling for M Last Year, a Palm Beach Mansion Is Back for M

It’s official. Sunny Palm Beach, FL, is a hot ticket—and it’s the locale of this week’s most expensive new listing, a $37,750,000 mansion. The listing is represented by Suzanne Frisbie and brokered by the Corcoran Group.

It probably doesn’t hurt that the posh area is so nice that it entices President Donald Trump to retreat to nearby Mar-a-Lago to unwind on the links and impress visiting heads of state.

Being associated with the “Southern White House” notwithstanding, we’ve seen a number of area homes recently hit the market with enormous price tags.

And this prime piece of real estate includes a whopping 220 feet of waterfront, which is “rare frontage,” according to Frisbie. How rare? Frisbie says only “93 of Palm Beach’s 265 intracoastal properties have over 150 feet of frontage.” One out of three ain’t bad!

In addition to the waterfront location, the brand-new construction has direct views of the Palm Beach inlet, a new dock and seawall, and a heated and salt-filtered pool.

The 11,139-square-foot home includes eight bedrooms, nine bathrooms, two half-baths, and a guesthouse. High-end features include marble flooring on the main level, mahogany hurricane windows and doors, a main kitchen with high-end appliances, and a second chef’s kitchen. Outdoors, there are balconies, patios, and lounges for entertaining.

The property was purchased for $8,825,000 in 2013 by local developer David Frisbie—the husband of the listing agent. He razed the 1930s-era house and began building a contemporary residence in its place.

While it was still under construction, David Frisbie sold the place in 2016 for $32 million to a mysterious LLC. The latter stands to make a tidy profit by flipping the property at a markup.

Suzanne Frisbie says the price is in line with “market pricing for newly built, premium Palm Beach waterfront.”

The post Fantastic Flip? After Selling for $32M Last Year, a Palm Beach Mansion Is Back for $38M appeared first on Real Estate News & Advice | realtor.com®.

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