For a cool $45 million, you may be able to get yourself a home within striking distance of the famous Mar-a-Lago Club, former president Donald Trump‘s Palm Beach, Florida, property.
Located at 1090 South Ocean Boulevard, a new construction on Palm Beach Island is on the market. The three-storied home boasts six bedrooms and eight and one-half bathrooms, a gym, sauna, steam, spa room, walk-in wine cellar, jacuzzi, and lap pool, according to a description on Zillow, where it says it will be completed by 2025. It’s being promoted as a single-family residence sitting on under half of an acre.
“The property offers true resort-style living including impressive health and wellness amenities within the home, private deeded beach access just steps from the front door,” the description on Zillow says.
More intriguingly, ownership of the property will also secure “a deeded membership to the exclusive Mar-a-Lago Club nearby.”
“Anticipated completion is Fall 2025, and this rare opportunity can still be customized in advance of completion,” the Zillow notice says. The listing on Zillow says the property has been on the platform for 78 days. And since it was listed on January 16, it has attracted more than 6,700 views with 213 saves.
At that $45 million price, Zillow estimates that a mortgage on the property would amount to about $282,000 a month and essentially the owner is set to pay $3,370 per square foot.
“This exceptional home features superior architectural design and attention to detail with over 13,000 square feet of total living space,” according to Zillow. Nearby property values range from $10 million to $39 million, according to the platform.
Palm Beach is one of the most popular housing markets in South Florida, according to premier real estate firm Corcoran Group. In the fourth quarter of 2023, the area saw double-digit yearly growth for single-family properties and condo-type residences. After lukewarm sales, single-family property transactions soared by 55 percent compared to the year before, Corcoran data shows.
Prices for single-family properties have declined by half on an annual basis to a little under $12 million. But homes have been going above $10 million for three years in a row, according to a report by Corcoran.
As context for the type of homes and their values that exist in the area, on Thursday, The Palm Beach Daily News reported that designer Tommy Hilfiger sold his 3-bedroom, 6,175 square feet property for $28 million. Hilfiger and his wife bought the house in 2021 for $21 million, the paper reported.
“The close of 2023 proved once again that Palm Beach is still one of the most popular markets in South Florida with annual growth in closed sales supported by a substantial surge in inventory,” Pamela Liebman, Corcoran’s president & CEO, said in a note accompanying the company’s report about the area’s real estate market.
“Looking ahead to 2024, prospective buyers are in a favorable position. Despite prices trending upward, the simultaneous rise in supply, particularly in areas witnessing a development boom, instills the market with a renewed sense of flexibility and choice,” she added.
Reached for comment, Brandt shared the following statement with Newsweek.
“It is very difficult to undertake the new construction process in Palm Beach. Between the new rules and regulations of the Architectural Commission (known locally as ARCOM) and the lead times around architectural work and construction permitting, there is a verifiable shortage and scarcity of turn-key new construction homes either recently completed or upcoming in the pipeline. This relative lack of inventory, coupled with growing national and global demand for Palm Beach Island properties, makes the few marquee projects like 1090 S Ocean Blvd all the more coveted and unique.”
Brandt declined to comment on who currently owns the property. Tax records show that the owners of the property are 1090SOCEAN LLC.
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