P
alm Beach saw significant real estate sales during the season that began in October 2024 and ended in May 2025, with eight residential transactions closing at prices above $30 million. The island's allure for wealthy buyers remains strong, given its reputation as a haven for billionaires, with at least 68 residing there according to Forbes data analyzed by the Palm Beach Daily News.
The highest-priced sale was an off-market deal involving two vacant North End lots totaling 2.26 acres, which sold together for at least $160 million. The priciest condominium sale was a deed recorded at $14.06 million in the oceanfront Kirkland House.
Here are the eight residential real estate sales that closed on the island between October 1 and May 2 at prices topping $30 million:
* At least $160 million, 1063 and 1071 N. Ocean Blvd.: Two side-by-side vacant beachfront lots sold to an undisclosed buyer through a limited liability company.
* $81 million, 1446 N. Ocean Blvd.: A 1970s-era beachfront house was sold in November for $81 million to a company linked to real estate attorney David Klein.
* $73 million, 530 S. Ocean Blvd.: Digital-media billionaire Ric Elias and his wife transferred ownership of this oceanfront house to Mark Paley, co-founder of Harvest Investors, in an off-market deal valued at $73 million.
* $51.42 million, 516 S. Ocean Blvd.: The sale of this Estate Section residence closed in late April for $51.42 million to a company linked to businesswoman and real estate investor Bren Simon.
* $40 million, 1230 S. Ocean Blvd.: A recently renovated-and-rebuilt 1986 house changed hands in the Estate Section for $40 million to Julie Chrystyn Opperman, who acted as trustee of a marital trust.
* $38 million, 305 Indian Road: Billionaire investor Dr. Herbert "Herbie" A. Wertheim bought this North End house facing the inlet at the northern tip of the island in November for $38 million.
* $31 million, 1160 N. Ocean Blvd.: Longtime real estate investor Paul L. "Jay" Maddock Jr. and his wife sold their North End oceanfront house to a company linked to real estate attorney Larry B. Alexander Jr. for $31 million.
* $30.795 million, 322 Clarke Ave.: Investments executive Jay C. Horgen and his wife sold their much-renovated landmarked house in Midtown to an as-yet-unidentified Cox family member of Cox Enterprises for $30.795 million.
The priciest condominium sale was a deed recorded at $14.06 million in the oceanfront Kirkland House, while the priciest townhouse deal was a sale of a duplex near the Town Hall historical district for $16.5 million. The priciest commercial sale was an off-market deal involving the landmarked Palm Beach Main Post Office Building, which sold to a company affiliated with The Breakers for $28 million.
