It’s the offseason for Palm Beach, but homeowners on the island are still trying to get top dollar rents for their luxury homes.
Even in the summer heat, asking rents are as high as $90,000 per month, according to Redfin. The homes listed at such rates are not sprawling oceanfront compounds, either. The two priciest rental listings are both non-waterfront houses on less than an acre.
“Believe it or not there are sometimes people who come here in the summer,” said Premier Estate Properties agent Rosalind Clarke, who has the $90,000 per month listing at 15 Golfview Road. Clarke said asking rents surge in the busy season, when demand is high and wealthy clientele are in town. “That’s when the people who can actually afford to rent these houses are here.”
For winter and spring, asking rents for luxury homes in Palm Beach reach as high as six figures. In 2022, former President Donald Trump listed an oceanfront estate on the island asking $208,000 a month in rent. Most of the rentals for the busy season will be listed starting in September, although a few are already on the market.
Here are the five priciest monthly rentals in Palm Beach’s offseason:
$90K | 15 Golfview Road | Owners: Irving W. II & Catherine Bailey
Clarke has the listing for 15 Golfview Road, a 7,400-square-foot home built by Marion Sims Wyeth in 1928, according to property records. Sims Wyeth was one of the early architectural stars on the island.
Irving W. Bailey II bought the home for $6 million in 2000, records show. He is a managing director with Chrysalis Ventures, a Louisville, Kentucky-based venture capital firm, and President Joe Biden nominated him to serve on the Development Finance Corporation Board of Directors in December, according to a White House press release. Bailey’s wife, Catherine Bailey, was the U.S. Ambassador to Latvia during George W. Bush’s second term.
Their Golfview Road home spans 0.3 acres, with four bedrooms, five bathrooms, one half-bathroom and a pool, records show. They have it listed for rent until November, when high season begins.
$90K | 100 Regents Park Road | Owner: Dr. Najeeb Thomas
The Corcoran Group’s Dana Koch has the rental listing for 100 Regents Park Road. Owner Dr. Najeeb Thomas is asking $90,000 per month for the 5,500-square-foot home.
Thomas, a spine specialist based in New Orleans, bought the Regents Park Road house for $10.6 million in 2021, records show.
Built in 1959 on half an acre, the home includes five bedrooms, six bathrooms, one half-bathroom and a pool, according to property records.
$89K | 2 North Breakers, Unit N21 | Owner: Bruce & Stephen Malasky
Spec developers Bruce and Stephen Malasky are asking $89,000 a month for a Breakers Row condo. Jim McCann of Premier Estate Properties has the listing.
The brothers, who run West Palm Beach-based Malasky Homes, bought unit N21 at 2 North Breakers Row for $10.5 million in 2021, records show. Built in 1986, the three-bedroom condo spans 3,200 square feet and has three bathrooms and one half-bathroom, according to property records.
Malasky Homes sold a Palm Beach spec mansion for $43.7 million in May.
$75K | 260 El Pueblo Way | Owner: David Khoury
Real estate developer and investor David Khoury is asking $75,000 per month for his house at 260 El Pueblo Way, and Brown Harris Stevens’ Aubrey Caven Khoury has the listing.
David Khoury is a managing principal at Priderock Capital Partners, a Palm Beach Gardens-based multifamily investment and development firm.
He bought the El Pueblo Way house for $8.8 million in September, records show. Built in 1940 on 0.3 acres, the 3,100-square-foot house has four bedrooms, three bathrooms and a pool, according to property records. It was designed by celebrated Palm Beach architect Maurice Fatio.
$75K | 1519 North Ocean Way | Owner: Edward Mulé
Hedge funder Edward Mulé has listed his beachfront North End mansion for $75,000 per month, but only for the summer months, the listing shows. Allison Wren of Corcoran has the listing.
Mulé is co-founder and CEO of Silver Point Capital, a Greenwich, Connecticut-based hedge fund with $31 billion in assets under management, according to its website. Entities linked to Mulé and his wife, Marian Mulé, bought the mansion at 1519 North Ocean Way for $15 million in 2019, records show.
The 9,100-square-foot house was built in 1936 on 0.4 acres, and has nine bedrooms, 11 bathrooms, one half-bathroom and a pool, according to property records. It also has direct beach access, the listing shows.
