A spec house still under construction in Palm Beach landed on the market this week for $44.5 million, making it the week’s most expensive new listing on realtor.com®. Only seven homes in the notably posh area are pricier.
The property is being developed by Corey Schottenstein of the Ohio-based Schottenstein Real Estate Group, the Wall Street Journal reports. The developer doesn’t have a buyer lined up for the massive home—yet—but told the WSJ that he believes the property’s proximity to President Trump‘s Mar-a-Lago estate will be a major selling point.
The 13,000-square-foot home is flanked by water and docks on both sides. The outdoor living space—which spans 4,000 square feet—includes a rooftop terrace with a fireplace, and a wraparound pool on almost an acre.
Created by architect Roger Janssen of Dailey Janssen, the contemporary structure features limestone, stucco, concrete tile roof lines, and walls of windows. Dubbed “Lago a Lago,” the home is built around a central courtyard to allow for water views from one side of the home to the other.
Lago a Lago
Palm Beach spec house with modern design
One of two floating staircases and wine cellar
Living room with walls of glass
Indoor/outdoor lounge that extends to courtyard
The massive estate boasts six bedrooms—including two master suites—and 11 baths total.
There’s a giant kitchen (and butler’s pantry), which leads to a formal dining room. The living room is encompassed by walls of glass. Behind more glass, a wine cellar is situated below a floating staircase. An indoor/outdoor lounge and bar extend out to the courtyard and pool.
Luxury amenities include a theater room, an elevator, a gym and yoga room with steam and sauna, an outdoor barbecue and grill, and four attached, air-conditioned garages. The pool wraps around the back of the house and boasts shallow water for lounging as well as a waterfall.
The landscaping includes a fire pit and ornamental grasses. With dock space on either side of the property, there’s room for a bevy of water toys, plus a yacht over 100 feet.
The developer and his family are vacationers to the area and are said to be longtime friends of President Donald Trump, who often spends his winters at Mar-a-Lago, only a couple of miles away. The property was picked up for $12.15 million in 2016, according to realtor.com® records.
Chris Deitz with William Raveis Palm Beach holds the listing.
Source: Housing Trends Feed