Meanwhile… in Palm Beach: Michael Jordan Buys, DeWoody Closes $14.5M Deal and More

Palm Beach, Manalapan, Elizabeth DeWoody
Elizabeth DeWoody of Palm Beach Advisory at Compass sold 1520 Paslay Place in Manalapan.
Studio 910

While the winter season wraps up in Palm Beach, that doesn’t necessarily mean the market is showing signs of slowing down. Basketball Hall of Famer Michael
Jordan made headlines this week by purchasing a $16.5 million mansion in the Palm Beach County town of Jupiter, where he already owns a home.

Jordan bought a resort-style, 9,100-square-foot home at 103 West Bears Club Drive, The Real Deal reported. The five-bedroom, six-bath home sits on a one-acre property within The Bears Club, a 400-acre gated community with a Jack Nicklaus–designed golf course, about a mile from the ocean beach.

Jeremy Browne and Thomas Hughes of Compass represented the sellers, while Maria Prieto of Keller Williams Capital Realty, who happens to be Jordan’s mother-in-law, represented the buyer at the closing, which took place on March 27. The agents declined to comment.

The former NBA champion isn’t the only one making big real estate moves, though. Over in Manalapan, a stunning 10,645-square-foot home on the water just sold last week for $14 million. Elizabeth DeWoody of Palm Beach Advisory at Compass had the listing with the last ask of $14.5 million.

The house at 1520 Paslay Place underwent a complete renovation in 2023, now boasting a brand-new roof, impact doors and windows, a multi-zoned air conditioning system, tankless water heater, full house generator, custom cabinetry and closets, and top-of-the-line finishes. It offers six bedrooms, eight full bathrooms and two half-baths.

Sitting on a half-acre, the property offers over 170 feet of direct frontage on the Intracoastal Waterway and a pool, outdoor covered loggia and an outdoor
kitchen. There are also approved plans for a deepwater dock with a lift and pool house.

“Manalapan’s waterfront homes offer an unparalleled blend of privacy and value, making them an exceptional investment opportunity,” DeWoody told Behind The Hedges. “The sale of 1520 Paslay embodies this, showcasing a move-in ready, turnkey property that requires no renovations, promising a seamless transition into luxurious coastal living. Additionally, the neighboring bureau of Ocean Ridge stands as the best-kept secret, with properties like 5 Beachway N., which are redefining the standard for upscale, convenient oceanfront living just minutes from downtown Delray and Palm Beach.”

Casey Flanneryof Equestrian Sotheby’s International Realty, Palm Beach
Casey Flannery of Equestrian Sotheby’s International
Carrie Bradburn/CAPEHART

Real Estate Insider:

Over in Wellington — which Dan’s Papers has been covering through its new supplement “The Circuit” — it’s all about equestrian life. Given the show season has ended and many are headed back to the Northeast to places like the Hamptons and Connecticut, we were curious how that impacts the real estate market.

We reached out to Casey Flannery of Equestrian Sotheby’s International Realty in Wellington for the inside scoop.

BTH: With the Wellington Winter Equestrian Festival having wrapped up last month and the summer season fast approaching, how does the Wellington market change?

CF: The market changes as far as feet on the ground, but we have found that buyers are looking and making purchases all year round. Buyers often feel that the most favorable deal can be made during the summer months.

BTH: What about the rental market? How does that adjust as Floridians head north to places like the Hamptons for the summer season?

CF: We are finding that future tenants are securing their property for the following season at the end of the current season. This allows them to actually visit the property in person, rather than make a decision based on video or photos.

BTH: What types of properties are/were most in demand this season?

CF: There is truly not a specific type of property that is more in demand than another, given the diverse offerings Wellington has. Whether it’s a horse farm with stables or individual property with a guest house, or any variety of offerings in between, Wellington is sure to deliver. A factor that almost all buyers consider is proximity to the Winter Equestrian Festival and other equestrian venues including polo and dressage. We did find this season that single-family homes in the $4 million to $7 million range were in high demand.

Palm Beach
The listing at 215 Indian Road in Palm BeachShawn Hood Media

New to the Market

A modern, turnkey home on the north end of Palm Beach has just been listed at $23.95 million. Steve Hall of The Hall Group at Compass Palm Beach represents the listing at 215 Indian Road.

Renovated in 2022, the home features over 7,000 square feet of total space and also includes a newer roof, impact windows and doors, and new wood floors. The five-bedroom, five-and-a-half-bath house also has partial water views and is surrounded by tropical landscaping.

“(This is a) rare opportunity to purchase a totally renovated contemporary home at the very north end of Palm Beach,” says Hall. “The location is ideal because it is very quiet and ‘islandy,’ and also provides quick access to the beach and Intracoastal. The home has been professionally decorated and can be sold furnished to help with an easy transition into your new Palm Beach retreat.”

Other features include high ceilings, a large kitchen and an air-conditioned two-car garage with extra storage.

For more on Palm Beach real estate, click here.