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But even with these impressive statistics, bDelray Beach real estate/b remains an affordable alternative to other Florida destinations. The decline in properties sold mirrors the state and nationwide trend of a softening market, …
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One Palm Beach couple bought themselves an early Christmas present with the Dec. 23 purchase of the 3-story mansion at 115 Via La Selva.
According to court records James Edward and Selaine Niedel bought the 12,000-square-foot property from Edward Falcone, who purchased it in 2004 for $7.3 million. Falcone, who owns two other Palm Beach estates, had 115 Via La Selva listed for $9.95 million.
The Mediterranean-style home, designed by architect Maurice Fatio and built in 1928, includes a 5-car garage, tropical courtyard, five guest rooms and a separate pool house.
Rosalind Clarke and Laura Coyner of the Corcoran Group Palm Beach listed the property. Paulette Koch and Dana Koch, also of the Corcoran Group, represented the buyer.
Dana Koch said the Neidel’s plan to live in the home. It is listed as their mailing address in court documents.
“They have a growing family and wanted a place where all their children and grandchildren can stay at the same time,” he said. “They love old historic homes so this kind of fit the bill.”
The home was listed with Corcoran for just 77 days before the sale. Koch said it is the highest listed “dry lot” sale in Palm Beach this year. Dry lot means it’s not on the ocean or Intracoastal. Listed means it was advertised and marketed in the MLS system.
According to the New York Social Diary, 195 Via del Mar, also a dry lot, sold for $13.9 million in August. Koch said 195 Via del Mar was not a listed property.
According to Corcoran’s Web site; “A recent restoration of the residence, which occupies more than 12,000 square feet on nearly an acre of property, preserved the elegance of the Mediterranean architecture while providing today’s comforts.”
The New York Social Diary says the house was built for Warner L. Jones in 1928 at a cost of $55,000. For many years it was the residence of Winifred Dodge Seyburn (1894-1980), daughter of auto pioneer, John Dodge.
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Short sales, where a lender accepts less for a home than what is owed, litter the distressed Real Estate market but are still uncommon on posh Palm Beach.
The wealthy, however, are not immune to financial woe, and Realtor Gary Pohrer of Fite Shavell and Associates, recently helped usher through a short sale on a Palm Beach home at 237 Seabreeze.
Realtor Paul Schafranick with Frank Lanosa Realty represented the buyers in the deal.
Originally offered at $5.5 million, 237 Seabreeze is located between South County Road and Cocoanut Row, three streets north of Royal Palm Way.
Pohrer said a little more than $4 million was owed on the home. It sold for $3.95 million in short sale.
Construction finished on the home in January. The previous owner had originally planned to move into the home, but decided against it.
Pohrer personally paid for a real estate attorney to handle the short sale.
“I had spent so much time on the property, I wanted to see it through,” he said.
Pohrer said the short sale took about four months to negotiate and during that time several bidders stepped forward.
Palm Beach County property records show the home was owned by Lauro Biando, who has a Lake Worth mailing address and is listed as president of consulting firm Agycon, Inc. by the Florida Department of State.
The buyer is listed as 237 Seabreeze, LLC, which is managed by Raymond and Kerry Fine, according to state business filings.
