Palm Beach Friday, June 27, 2014 Presented by: M. Alison Newton and James L. McCann
With its beautiful architecture and tropical setting, Palm Beach remains the perfect resort town The town of Palm Beach, often referred to as “The Island”, is comprised of 3.9 square miles. It is located on a 16-mile barrier island, with the Atlantic Ocean to the east, and the Intracoastal Waterway to the west. Henry Flagler, the railroad magnate, established Palm Beach as a resort town where well-heeled northerners could escape the cold winters. He helped establish the Palm Beach winter season, known today as “The Season.” Upon completion of his 55 room Beaux Art mansion called Whitehall, Henry Flagler began a trend among the wealthy. The trend was to build such lavish homes as Mar A Lago, the home of Marjorie Merriweather Post. Palm Beach thus became the winter playground for the affluent set. Today, Palm Beach Island is still a community for the wealthy. It caters to the elite with such favorites as the famous shopping district of Worth Avenue, which is filled with an assortment of luxury retailers. Its array of beautiful Mediterranean, Georgian and Bermudastyle architecture rich in history, as well as the fine dining and resort hotels makes it the perfect resort town.
About Palm Beach Today, Palm Beach remains one of the world's most desirable communities and is internationally known as the "American Riviera,� a winter resort where the wealthy enjoy life in a tropical paradise. Palm Beach is the eastern most town in Florida, approximately 16 miles long and only one to four blocks at its widest point. Three bridges connect Palm Beach to the mainland and to the City of West Palm Beach Palm Beach County is the largest county in Florida The airport is conveniently 3 miles west of the Island Palm Beach County has more golf courses than any other county in the country and Florida has more golf courses than any other state in the country On the Forbes 400 List of Billionaires, 29 of them have ties to Palm Beach, representing a net worth of $400 billion.
Palm Beachers contribute more money per capita to charities than any other community in America The Robb Report rated Palm Beach as one of America's best places to live due to its affluence, abundance of pleasures and "strong community oriented sensibility"
Palm Beach Property Statistics • • •
The property appraiser of Palm Beach has valued Palm Beach property at $13.3 billion versus $12.5 billion last year, up 6.4% There are approximately 2,300 single family homes in Palm Beach There are only approximately 486 waterfront properties – – – – –
81 homes are direct ocean front 102 homes have the ocean across the street 265 homes are lakefront 19 homes are ocean to lake Only 8 properties over 5 acres, see below
Property Address 1500 South Ocean 1300 South Ocean 1300 South Ocean (lakefront land) 20-50 Blossom Way 1255 South Ocean 515 N County Road 548 N County Road 700 N Lake Way
Acres 5.14 5.13 6.24 7.84 5.98 6.26 12.47 5.61
Owners Jim Clarke Dwight Shar Under Contract Ken Griffin Thomas Peterffy Dmitry Rybolovlev Nelson Peltz Henry Kravis
Palm Beach Area Map
Subject Property 1500 South Ocean Blvd., Palm Beach Il Palmetto Built in 1930 by noted Palm Beach architect Maurice Fatio. Born in Switzerland in 1897, Fatio opened his first office in New York and later Palm Beach in the 1920s. Fatio’s celebrated Italian Renaissance style blended beautifully with Palm Beach’s Mediterranean architecture and he was quickly embraced by high society.
Joseph Widener commissioned Fatio to build this ocean to lake, Italian Renaissance-style palazzo called Il Palmetto with a living room measuring 100 feet in length designed to accommodate his art collection Purchased in 1999, the property underwent years of restoring and expanding its original floor plan for a total 68,381 square feet
Only ocean to lake property over 5 acres in Palm Beach Approximately 342 feet of water frontage on the Ocean and 358 feet of water frontage on the Lake with a total of 703 feet of water frontage
Palm Beach Presentation, Virtual Brochures
Brought to you exclusively through M. Alison Newton Broker Associate 917.428.9909 Alison.Newton@corcoran.com Jim McCann Senior Broker Associate 561. 296.8720 James.McCann@corcoran.com