A hedge funder’s Palm Beach house asking nearly $20 million went into contract last week after a year on the market, topping the list of luxury deals in the county last week.
Buyers signed 24 contracts between March 23 and March 29 for luxury properties in Palm Beach County, according to Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $149.1 million in asking dollar volume and averaged 102 days on the market. The previous week, buyers signed 33 contracts totaling $238.2 million.
The report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 43 new listings, and 1,283 active listings on the market.
Of the properties that went pending last week, 18 were single-family homes, and six were condos. The average asking price for the condos was $4.4 million, or $1,616 per square foot. They spent an average of 75 days on the market.
The average asking price for the single-family homes was $6.8 million, or $1,404 per square foot, and they spent an average of 129 days on the market.
The most expensive home to find a buyer last week was the 6,000-square-foot home at 150 Kings Road in Palm Beach, asking $19.5 million.
Records show the sellers are Peter and Kristen Gerhard, who bought the property for $2.3 million in 2013. Peter Gerhard is a former Goldman Sachs partner and founder of the hedge fund G Capital Management. The house was built on 0.3 acres in 2017, and includes five bedrooms, six bathrooms, a gym and a pool, records and the listing show.
The couple listed it for $19.5 million a year ago, Zillow shows. Kristen Gerhard and Shavendra Roopchand with Compass have the listing.
The second-most expensive listing to go pending last week was for the 3,600-square-foot home at 449 Australian Avenue in Palm Beach, asking $17 million.
Records show the sellers are Victor and Julia Tolkan, who bought the house from billionaire SC Johnson heiress Winifred Johnson-Marquart for $16.7 million in December. Built in 2017 on 0.2 acres, it has four bedrooms, five bathrooms, one half-bathroom and a pool.
They listed it for $17 million on March 11 and went into contract on March 28, Zillow shows. Dana Landry with Dana Edward Landry has the listing.
