04 Wednesday Jan 2012
Posted in Palm Beach Real Estate
Home prices may have fallen across Palm Beach County in the third quarter, but the mansions in Palm Beach did just fine.
The median price on the island hit $2.775 million in the July-to-September period, up 22 percent from a year ago, according to The Evans Report, an analysis by Palm Beach lawyer Leslie Evans.
29 Thursday Dec 2011
Posted in Palm Beach Real Estate
A new look and a younger feeling that’s what builder Paul Wittmann and interior decorator Jack Fhillips had in mind for Wittmann Building Corp.’s latest high-end oceanfront “spec” home at 102 Banyan Road.
“When my partner, Peter Callahan, and I purchased the property, we wanted to create a fresh, clean and crisp look,” Wittmann says.
While researching, he came across a photograph of Rosedon, a small boutique hotel in Bermuda that had once been a private residence.
“It was striking — painted white with white roof and blue shutters and awnings,” Wittmann says. “I gave the photo to Michael Perry of MP Design & Architecture and said, ‘Give me this to build.’”
15 Thursday Dec 2011
Posted in Palm Beach Real Estate
The five-bedroom Mediterranean-style house was originally listed at $7.95 million.
Read More (Palm Beach Daily News)
10 Saturday Dec 2011
Posted in Miscellaneous, Palm Beach Real Estate
Rich people like living around other rich people. Palm Beach is the top zip code according to the Gadberry Group. The study ranked average income and household net worth.
08 Thursday Dec 2011
Posted in Palm Beach Real Estate
The home at 161 Clarke Ave. Palm Beach has just been sold for $4.25 million. It was originally listed for $6 million and later dropped to $5.45 million.
The property is just down the street from Midtown beach. Architect Marion Sims Wyeth designed the 1968 house.
05 Monday Dec 2011
Posted in Florida Real Estate, International Buyers
Billions of dollars from foreign investors may propel Miami into the ranks of the world’s elite cities.
The construction crane has returned to the city’s skyline with an Argentine company’s new condo tower. Foreign developers — and projects backed by foreign investors — have emerged in force ["Foreign-Backed Projects," page 44], and more may be in the offing.
“There are a lot that have invested — and it’s not even public — that are of equal financial strength and stature as Genting and Swire,” says a land-use attorney for those two firms, former Miami Beach Mayor Neisen Kasdin, managing shareholder for Akerman Senterfitt’s Miami office.
“This is completely different in quality and quantity and depth and staying power than anything we’ve ever seen before, and it bodes very well for us,” says Kasdin. “It’s a recognition that Miami has arrived as a major global gateway city.”
03 Saturday Dec 2011
Posted in Palm Beach News
TownOfPalmBeach.com Publisher Irina Sedelnikova is a corporate sponsor of the Civic Association and is getting more involved in town activities that concern Palm Beach and its luxury brand.
The Welcome Home party is a way to greet residents and have them see each other after having been away during the off-season.
Irina Sedelnikova with Palm Beach Mayor Gail Coniglio
“It was wonderful to see the hundreds of residents come together after six or more months away,” said Ms. Sedelnikova. “We are happy to launch this new real estate news service during this important time in the market.”
Town leaders participated and enjoyed the fantastic success of the event.
22 Tuesday Nov 2011
Posted in Florida Real Estate, International Buyers
Cash-rich Brazilians are leading a revival in South Florida real estate – one of the markets hit hardest by the US property crash – underlining the diverging fortunes of the two largest economies in the Americas.
Brazilians, along with other Latin Americans and Canadians, have driven up prices of condominiums in the popular coastal neighbourhoods of Miami by an estimated 50 per cent from their lows in 2009, according to Condo Vultures, a Miami real estate consultancy.
One welcome feature of the boom is that Brazilians are paying in cash for 85 per cent of their properties, according to the US National Association of Realtors. Developers have responded by unveiling projects in Miami for the first time since the crisis.
“Right now everything’s all about Brazil,” says Peter Zalewski, principal of Condo Vultures, which tracks supply. “Brazilians are rock stars in Miami right now.”
Miami and other parts of Florida have for years attracted investment from abroad – from Latin America in particular. Along with the property markets of Texas, Arizona, New York and California, the Florida real estate market has tended to benefit from foreign investment during US downturns.
21 Monday Nov 2011
Posted in Miscellaneous
Tags
beautiful, glamorous, real estate market value, retail mecca, safe, Town of Palm Beach brand, ultra-wealthy
Image courtesy of the Palm Beach Convention & Visitors Bureau
In the digital age, it’s not just the purveyors of toothpaste or soft drinks who look to create a clear brand image in the global marketplace to ensure success for their products.
Places such as Palm Beach, too, can benefit from establishing themselves as coherent and consistent brands, as long as the associations made at the mention of a town’s name are unique, relevant and authentic.
Read More (Palm Beach Daily News)
The Palm Beach brand is defined as “as wealthy and resilient, safe and beautiful.” “Visitors see Palm Beach as an exclusive playground for the ultra-rich, a retail mecca and a glamorous place to spend time and money.”
17 Thursday Nov 2011
Posted in International Buyers
A contributing factor in Florida’s success can be tied to international buyers*; the number of buyers from outside the U.S. purchasing homes increased from 10 percent in 2007 to 31 percent in 2011.
Read More (National Association of Realtors)
*National Association of Realtors® Florida Market Report [November 2011]
