Back in Palm Beach, a North End house sold in an off-market deal for $37 million, nearly four times as much as it traded for a decade ago.
Dana and Paulette Koch of the Corcoran Group represented the sellers of 125 Wells Road, while Christian Angle of Christian Angle Real Estate represented the buyer, Koch confirmed.
“The sale is one of the top 10 sales of 2023 in Palm Beach and one of the top non-waterfront sales of the year in Palm Beach,” Koch says.
Records identified Fox News host Bret Baier as the new owner of the Palm Beach Regency-style house. Situated on a sixth-of-an-acre property, four lots west of the beach, the house was built in 1992 and underwent a major renovation in 2015.
The Special Report with Bret Baier host purchased the house from Robert Weiner, who is the wife of Boston shopping center developer Stephen R. Weiner.
Weiner’s 125 Wells Road Land Trust purchased the five-bedroom, six-and-a-half-bath house for $10.95 million in 2013, from socialite Carol Lee “Leezy” Sculley, the former wife of John Sculley, who has served as CEO of Apple and chairman of PepsiCo, the Palm Beach Daily News reported at the time.
“The sales price is a function of the market. Obviously, there has been significant appreciation over the last decade in Palm Beach,” Koch says. “Our sellers extensively renovated the home. It is a magnificent home on an ocean block of one of the top streets in Palm Beach.”
He continues, “There have been very few sales of renovated homes on half-acre-plus ‘in-town’ lots in Palm Beach especially on a street like Wells Road. These kinds of properties really don’t exist so it’s about supply and demand. Buyers will pay a premium for renovated or new properties. They don’t have the bandwidth to spend two years doing a project.”
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