A three-bedroom house in the North End of Palm Beach sold off-market last month for $14 million, a 6,122% increase since the property last traded in 1985.
Yes, you read that right. Thirty-eight years ago, the house at 1186 N. Ocean Way sold for $225,000.
Gary Pohrer of Douglas Elliman represented the buyer in the off-market deal that closed Aug. 4.
Situated on a 0.4-acre parcel on the corner of the highly desirable Nightingale Trail, the land is what drove the price. The lot is 18,731 square feet in size, while the home, originally built in 1958, offers 5,518 square feet of living space.
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