I
n a rare instance of a Palm Beach property selling for less than its predecessor, Michael DeAscentis II purchased the four-bedroom house at 156 Seagate Road near the Sailfish Club of Florida for $13.25 million. The sale price represents a $2 million drop from the $15.25 million fetched by a neighboring property in late 2023.

    The buyer's side was represented by Gary Pohrer of Douglas Elliman Real Estate, while Margit Brandt of Premier Estate Properties had listed the house since April 8, 2024, with an initial asking price of $16.79 million. The listing underwent several price reductions before finally selling for $14.95 million.

    The property, built in 2017 as a custom home by architect Roger Janssen of Dailey Janssen Architects, boasts 4,450 square feet of living space and features an "island colonial" style influenced by Dutch buildings. The house had been unfurnished but was described as "now completely turnkey and move-in ready."

    The seller, Seagate Retreat LLC, a Florida limited liability company managed by real estate attorney Alison R. Percy, declined to comment on the sale. DeAscentis II, founder and CEO of Lifestyle Communities (LC), also chose not to discuss his purchase.

    This sale marks a departure from the typical trend in Palm Beach, where home values have historically appreciated rapidly even in the short term. The property's open floor plan, including a living room with a vaulted-and-beamed ceiling and a brick fireplace, as well as its access to the North Shore Beach Club, make it an attractive feature for potential buyers.

    The sale price discrepancy between this property and its predecessor highlights the complexities of the Palm Beach real estate market, where factors such as commission deductions and physical items included in the sale can affect recorded prices.