REAL ESTATE • On the Market
Last week’s $40M closing on 40 Palm Ave (above) set a new high-water mark for property sales on Palm & Hibiscus Islands. The 15k square-foot house, designed by tropical modernist Cesar Molina, originally listed in November for $48.5M. Boasting 100 feet of frontage, it’s got cruise ship and skyline views, with cool breeze vibes to match.
A handful of new properties have listed on Palm Island in the last year, including 222 S. Coconut Lane and 277 N. Coconut Lane, each of which has taken a $1 million haircut from their original listing prices. Here are those two listings, plus something further downmarket for your Thursday consideration:
→ 277 Palm Ave (Palm Island) • 4BR/3BA 3301 SF house • Ask: $3.98M • ‘Opportunity awaits’ for reno or rebuilt • Days on market: 24 • Agent: Santiago Ferreira, One Sotheby’s.
→ 277 N Coconut Ln (Palm Island) • 5BR/5.1BA 2608 SF house • Ask: $7.9M • 50’ linear sea wall with deep blue kitchen and views to match • Days on market: 219 • Agent: Lourdes Alatriste, Elliman.
→ 222 S Coconut Ln (Palm Island, above) • 5BR/4.1BA 4507 SF house • Ask: $13.9M • 50’ of frontage, saltwater negative-edge pool, furnished • Days on market: 72 • Agent: Oren Alexander & Isaac Lustgarten, Official Partners.