211 Dunbar Road (Google Maps)
The CEO of a prosperity management agency offered his non-waterfront Palm Seashore estate for $21.3 million — quadrupling his financial investment in 20 a long time.
Records demonstrate H.E. “Gene” Rayfield Jr. offered the residence at 211 Dunbar Road to a believe in named for the address. West Palm Seashore-based mostly lawyer Maura Ziska signed on behalf of the customer.
Rayfield is CEO of Traverse Metropolis, Mich.-primarily based Rayfield Investments, and previous chairman of the East Carolina University Board of Trustees.
Aaron Lynn Warren and Gary Small of Sotheby’s Global Realty experienced the listing, and Lisa and John Cregan of Sotheby’s Worldwide Realty introduced the customer. Warren and Cregan declined to remark.
Rayfield purchased the residence for $5.4 million in 2002, in accordance to records. The just about 50 percent-acre property consists of a 6,000-sq.-foot, seven-bedroom, eight-lavatory property built in 1930, according to the listing. The estate contains a visitor residence, an condominium about the garage, and a 50-foot pool.
Rayfield bought household furniture with the residence for an added $3 million, Minimal reported. It was not reflected in residence information.
According to Very little, Rayfield purchased the residence “freshly renovated,” but under no circumstances did any important work himself.
The residence went into deal with other potential buyers who backed out of the deal, Little reported, but the estate only spent a few days again on the marketplace prior to the new customer emerged.
The sale marks a considerable rate soar for properties on Dunbar Road, outmatched only by spec developer Todd Glaser’s flip of a historic mansion on the avenue for $27.5 million very last year.
Minimal assumed the sale value in shape the sizing and place of the great deal. “I really don’t consider that it was a higher selling price, always,” he mentioned, “I imagine it was a truthful selling price.”
The pandemic-fueled purchasing frenzy on the island has finally begun to subside, but pricing remains solid. Restricted inventory and superior need keep on to drive sale charges to file highs, as Palm Seashore actual estate enters its occupied winter period.
“We’re likely back to a calmer, extra usual time,” Tiny said. “Palm Seashore is a modest put and a whole lot of men and women want to be there.”
This month, a Boston actual estate CEO offered a non-waterfront great deal with strategies for a 6,900-square-foot house for $10.3 million. Also this thirty day period, retail magnates Robert and Susan Burch marketed their non-waterfront Palm Beach estate for $24 million.
Todd Glaser and his partners listed the mansion they’ve been renovating on Tarpon Island for $218 million, a value that, if fulfilled, would break the $173 million Florida sale report established before this 12 months. The investors purchased the non-public island for $85 million previous year.
