The oceanfront Palm Beach estates of a telecommunications investor and a late German prince led pending deals in Palm Beach County last week.
Buyers signed 35 contracts between Feb. 23 and Mar. 1 for luxury properties in Palm Beach County, according to Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $295.6 million in asking dollar volume and averaged 76 days on the market. The previous week, buyers signed 32 contracts totaling $209 million.
The report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 70 new listings, and 1,289 active listings on the market.
Of the properties that went pending last week, 31 were single-family homes, and four were condos. The average asking price for the condos was $3.7 million, or $1,599 per square foot. They spent an average of 66 days on the market.
The average asking price for the single-family homes was $9.1 million, or $1,746 per square foot, and they spent an average of 86 days on the market.
The most expensive listing to find a buyer last week is the oceanfront Palm Beach home of telecommunications mogul Kevin Douglas at 870 South Ocean Boulevard, asking $43.9 million.
Records show Douglas and his wife, Michelle, bought the 6,100-square-foot home for $28.5 million in 2021. Douglas is a low-profile investor known for early bets on telecommunications investments through his firm Douglas Telecommunications. He sits on the board of IMAX and is chairman of Quantum Fuel Systems in Lake Forest, California.
The South Ocean Boulevard home was built on 0.4 acres in 1987 and includes six bedrooms, seven bathrooms, two half-bathrooms and two pools, records and the listing show.
The Douglases listed the home for $43.9 million in November, Zillow shows. Christian Angle with Christian Angle Real Estate has the listing.
The second-most expensive deal to go pending was for the oceanfront home at 143 East Inlet Drive, asking $32.9 million.
Records show the seller is the estate of the late Albrecht zu Oettingen-Spielberg, a German hereditary prince, who died in November. He bought the 1.2-acre estate for $1.8 million in 1987, property records show. The 4,700-square-foot home was built in 1960 and has five bedrooms, six bathrooms, one half-bathroom and a pool.
Albrecht listed the estate for $45 million in 2024, Zillow shows. Liza Pulitzer and Whitney McGurk with Brown Harris Stevens have the listing.
