Palm Beach News: Palm House to Set a New Standard of Luxury
The Bob Matthews designed Palm House at 160 Royal Palm Way Palm Beach is set to become an Icon of luxury and sophistication in Palm Beach, Florida.
Palm House is a boutique luxury hotel and residence collection consisting of 70 suites and penthouses located next to the beach and Worth Avenue.
Palm House will bring to Palm Beach a world class spa, elegant poolside dining and an uber chic lobby cafe as well as the only rooftop lounge in Palm Beach.
The Palm House pricing has raised some eyebrows with the not so savvy Real Estate people but the evidence supports Bob Matthews model.
In Miami the 12,516-square-foot penthouse at ultra-luxury condo Faena House in Miami Beach is officially off the market.
The eight-bedroom penthouse, which also features 9,900 square feet of outdoor space, closed this week for $60 million, or $4,794 per square foot, according to Faena’s representatives. The property is now on the market for $73m right around the Bob Matthews number of $5500 per square foot.
William Duker is putting his Miami Beach penthouse on the market for $65 million. If it fetches its asking price, the property will set a new record for a residential sale in the Miami area, according to listing agent Carlo Gambino of Douglas Elliman Real Estate. That number would exceed $5500 per square foot.
Bob Matthews said “$5500 is where we are heading for high quality real estate in the high quality areas, it is a fact that the comparable properties prove.”
The island of Palm Beach is just such a place. it is home to legendary resorts, exquisite mansions and historic landmarks, including Henry Flagler’s former residence, now the Flagler Museum. Lined with stately palm trees, the shopping nirvana of Worth Avenue is known worldwide. The island’s Gilded Age architecture will captivate, as will the chic restaurants and a winter highlight, the Palm Beach Food & Wine Festival. Golf here affords views along the Atlantic Ocean, the Intracoastal Waterway and Lake Worth Lagoon. Palm Beach has a way of making any visitor feel privileged.
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