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Yahoo
3 days ago
- Business
- Yahoo
House in Trump security zone is listed for $12.5 million
Another Palm Beach house is up for grabs in the security zone that borders President Donald Trump's Mar-a-Lago Club. The four-bedroom house at 112 Algoma Road is priced at $12.5 million and is a potential tear-down, according to the May 20 sales listing. The street is the third one north of Mar-a-Lago in the neighborhood that closes to through-traffic when the president is in residence at his private club. Built in 1952, the one-story house on Algoma Road is being marketed in the local multiple listing service in two categories – single-family homes and land. With 2,930 total square feet, the Bermuda-style house stands on a non-waterfront lot of about a third of an acre. It's the second house west of South Ocean Boulevard, which divides a row of direct-beachfront homes from the rest of the Estate Section. The house has been in the same family for nearly 45 years. Property records show its owned through a trust by Joyce S. Vaughn, who has it homesteaded as her primary residence in the latest Palm Beach County tax rolls. She bought the house for a recorded $385,000 in 1981 with her late husband, management-consulting executive Clother Hathaway Vaughn III. He died in 2019 at 85. Agent Margit Brandt of Premier Estate Properties holds the listing, which describes the property as having a 'bespoke' location with a 'truly elite level of privacy' and nearby deeded beach access. The listing says the house has a swimming pool but provides no details about the home's interior. 'Looking at the market today, 112 Algoma is the only dry lot available for sale in Palm Beach's Estate Section,' Brandt told the Palm Beach Daily News. 'It is also the only piece of land publicly available (in the MLS's land category) in the presidential security zone adjacent to Mar-a-Lago. This presents a special opportunity for a buyer to build their dream home in one of the most coveted, exclusive locations in the world.' Since early December, six residential properties in the Mar-a-Lago security zone have sold at prices ranging from $12 million to $27.5 million. Among those sales was another on Algoma Road. In December, that never-lived-in, five-bedroom house developed on speculation at 130 Algoma Road changed hands for a recorded $14.3 million. Two other houses are 'active' listings in the MLS's single-family category in the same neighborhood. An estate at 160 Clarendon Ave. is offered at $48.85 million by broker Lawrence Moens of Lawrence A. Moens Associates, while a house at 1048 S. Ocean Blvd. is listed at $23.95 million by agent Elizabeth DeWoody of Compass Florida. One other neighborhood house is listed in the 'pending' category of the MLS, meaning it is under contract. That's a four-bedroom house at 142 Via Palma with 7,633 total square feet, listed by Brandt at $18.95 million. When Trump is at Mar-a-Lago, security officers shut down South Ocean Boulevard in the neighborhood, opening the road only to property owners or their authorized visitors, representatives or workers. The security zone runs north from the club property for seven blocks, or about half a mile, to South County Road. Because the area is bordered by the Atlantic Ocean on one side and the Intracoastal Waterway on the other, the roadblock effectively divides the town in two, forcing through-traffic to detour across bridges into West Palm Beach and back. Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly 'Beyond the Hedges' column. He welcomes tips about real estate news on the island. Email dhofheinz@ Help support our journalism. Subscribe today. This article originally appeared on Palm Beach Daily News: $12.5M listing in Mar-a-Lago security zone is a possible tear-down
Yahoo
21-05-2025
- Business
- Yahoo
New $12.5M listing in Trump's Mar-a-Lago security zone is a potential tear-down
Another Palm Beach house is up for grabs in the security zone that borders President Donald Trump's Mar-a-Lago Club. The four-bedroom house at 112 Algoma Road is priced at $12.5 million and is a potential tear-down, according to the May 20 sales listing. The street is the third one north of Mar-a-Lago in the neighborhood that closes to through-traffic when the president is in residence at his private club. Built in 1952, the one-story house on Algoma Road is being marketed in the local multiple listing service in two categories — single-family homes and land. With 2,930 total square feet, the Bermuda-style house stands on a non-waterfront lot of about a third of an acre. It's the second house west of South Ocean Boulevard, which divides a row of direct-beachfront homes from the rest of the Estate Section. The house has been in the same family for nearly 45 years. Property records show its owned through a trust by Joyce S. Vaughn, who has it homesteaded as her primary residence in the latest Palm Beach County tax rolls. She bought the house for a recorded $385,000 in 1981 with her late husband, management-consulting executive Clother Hathaway Vaughn III. He died in 2019 at 85. Agent Margit Brandt of Premier Estate Properties holds the listing, which describes the property as having a 'bespoke' location with a 'truly elite level of privacy' and nearby deeded beach access. The listing says the house has a swimming pool but provides no details about the home's interior. 'Looking at the market today, 112 Algoma is the only dry lot available for sale in Palm Beach's Estate Section,' Brandt told the Palm Beach Daily News. 'It is also the only piece of land publicly available (in the MLS's land category) in the presidential security zone adjacent to Mar-a-Lago. This presents a special opportunity for a buyer to build their dream home in one of the most coveted, exclusive locations in the world.' Since early December, six residential properties in the Mar-a-Lago security zone have sold at prices ranging from $12 million to $27.5 million. Among those sales was another on Algoma Road. In December, that never-lived-in, five-bedroom house developed on speculation at 130 Algoma Road changed hands for a recorded $14.3 million. Two other houses are 'active' listings in the MLS's single-family category in the same neighborhood. An estate at 160 Clarendon Ave. is offered at $48.85 million by broker Lawrence Moens of Lawrence A. Moens Associates, while a house at 1048 S. Ocean Blvd. is listed at $23.95 million by agent Elizabeth DeWoody of Compass Florida. One other neighborhood house is listed in the 'pending' category of the MLS, meaning it is under contract. That's a four-bedroom house at 142 Via Palma with 7,633 total square feet, listed by Brandt at $18.95 million. When Trump is at Mar-a-Lago, security officers shut down South Ocean Boulevard in the neighborhood, opening the road only to property owners or their authorized visitors, representatives or workers. The security zone runs north from the club property for seven blocks, or about half a mile, to South County Road. Because the area is bordered by the Atlantic Ocean on one side and the Intracoastal Waterway on the other, the roadblock effectively divides the town in two, forcing through-traffic to detour across bridges into West Palm Beach and back. Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly 'Beyond the Hedges' column. He welcomes tips about real estate news on the island. Email dhofheinz@ Help support our journalism. Subscribe today. This article originally appeared on Palm Beach Daily News: New $12.5M listing in Mar-a-Lago security zone is a possible tear-down
Yahoo
18-02-2025
- Business
- Yahoo
A 'Trump bump' is boosting Palm Beach real estate. See 4 lavish properties that show the boom.
Palm Beach's real-estate market is on fire. A vacant lot just relisted for $200 million, and sales of homes over $5 million have increased. Some brokers attribute the uptick to President Donald Trump's presence at Mar-a-Lago. Florida may be the Sunshine State, but Palm Beach is having a moment in the spotlight. Some brokers say President Donald Trump could be the reason. Take 1980 South Ocean Boulevard, a 2-acre vacant lot five minutes from the Trump-owned Mar-a-Lago on Palm Beach's "Billionaire's Row." Its owner — a lawyer and real estate investor named Nathan Royce Silverstein with ties to New Jersey — tried to sell it before, asking $150 million in 2022. This week, he relisted it for $200 million. Sure, there are renderings for a 20,000-square-foot-plus residence that are ready to show Palm Beach's Architectural Review Commission, and the two-parcel lot has frontage on both the Atlantic Ocean and the Intracoastal Waterway. Still, a key difference between 2022 and 2025 is that now Trump is president. Agents — including Margit Brandt, who represented the buyer in Palm Beach's most expensive sale of 2024, a man-made island that traded hands for $150 million — call it a "Trump bump." "In the postelection era, like, Q1 of 2025, we're seeing a lot of these high-priced listings, but at the same time, a lot of action in the market," Brandt, Premier Estate Properties, told Business Insider. "These are not like hypothetical asking prices. We're seeing a lot of actual movement within the high end here." "Palm Beach is a small island with big people," she added. According to Douglas Elliman, the number of signed contracts for homes from $5 million to $9.99 million increased 157% — or from seven homes to 18 — from January 2024 to January 2025. And sales for homes $10 million or more increased by an even larger margin: Three homes were sold in January 2024, while 13 were sold the same month in 2025. We're tracking the Palm Beach real estate boom as it happens. Below are some key properties and deals. A spec mansion in Manalapan, Florida, is on the market at $285 million A Florida home built on spec, meaning it's being built without a specific buyer in mind, hit the market in January at $285 million. It's currently the most expensive listing for a new home in the US and, if sold at that price, would be the most expensive sale in Palm Beach. The proposed 50,000-square-foot home is in Manalapan, Florida, about 11 miles south of Palm Beach. It's on a lot next door to billionaire Larry Ellison's house, which he paid $173 million for in 2022. The lot has 700 feet of Intracoastal and ocean frontage and will feature impressive amenities like a car museum, an indoor shooting range, and a bowling alley. An advantage to buying a home that isn't built yet is that the plans can be altered, listing agent Nick Malinosky told Business Insider in January. A vacant lot with plans for a new home is listed at $200 million Two acres of undeveloped property in Palm Beach is on the market with a massive $200-million price tag. The property boasts both oceanfront and private Intracoastal waterfrontage — which is one of the perks of the narrow strip of island that is Palm Beach. Records show that the current owner, Nathan Royce Silverstein, who tried to sell the lot in 2022 for $150 million, bought the property in 1966 for an unknown price. While there's nothing on the property now, the next buyer won't have to think too hard about what to do with it. Building plans and renderings have already been made and are ready to be submitted for approval. 2 oceanfront lots owned by Estée Lauder cosmetics billionaire heir, William P. Lauder, are listed for $200 million Billionaire and heir to beauty brand Estée Lauder, William Lauder, found a buyer for his more than 2-acre oceanfront lots in Palm Beach after initially listing them for $200 million in 2023. The offer for the lots — which Lauder bought in 2020 and 2021 — came in at $173 million in February. According to records, he purchased the first lot for $25.3 million and the second for an undisclosed amount. The property has about 360 feet of direct ocean frontage, according to The Palm Beach Daily News. If the sale were to close above $170 million, it'd set a new record that's stood since 2023. A private island in Palm Beach sold for $152 million in 2024 In May 2024, a 28,600-square-foot home on a private island in Palm Beach, Florida, sold for a $152 million, a record for lakefront properties. Palm Beach, Florida, is already an island, but Tarpon Island, where the home is located, offers an extra amount of seclusion. As the only private island in Palm Beach, the property features two private decks, multiple pools, a waterfront gym, and a wellness facility complete with a massage room and a nail salon, according to Mansion Global. Australian investor Michael Dorrell, the CEO and cofounder of investment firm Stonepeak, purchased the home, according to The Wall Street Journal. Read the original article on Business Insider
