The estates of a telecommunications investor and a German prince led luxury real estate transactions in Palm Beach County last week. According to Douglas Elliman’s Eklund-Gomes team, 35 contracts were signed for properties priced at $3 million or more between February 23 and March 1. The total asking price for these homes was $295.6 million, with an average time on the market of 76 days. This is an increase from the previous week, when 32 contracts worth $209 million were signed.
The report covers single-family homes and condos listed in the Beaches MLS. It noted that there were 70 new listings and a total of 1,289 active listings during the period.
Out of the pending deals, 31 involved single-family homes and four were condos. Condos had an average asking price of $3.7 million, or $1,599 per square foot, spending about 66 days on the market. Single-family homes averaged $9.1 million in asking price, or $1,746 per square foot, with an average of 86 days on the market.
The highest-priced property to go under contract was the oceanfront home of telecommunications investor Kevin Douglas at 870 South Ocean Boulevard. The property was listed for $43.9 million. Records show Douglas and his wife purchased the 6,100-square-foot house for $28.5 million in 2021. Douglas is known for his investments through Douglas Telecommunications and serves on the board of IMAX as well as chairman of Quantum Fuel Systems in Lake Forest, California.
Built in 1987 on a 0.4-acre lot, the South Ocean Boulevard residence features six bedrooms, seven bathrooms, two half-bathrooms and two pools. Christian Angle with Christian Angle Real Estate is handling the listing.
The second-most expensive contract involved an oceanfront home at 143 East Inlet Drive with an asking price of $32.9 million. The seller is identified as the estate of Albrecht zu Oettingen-Spielberg, a German hereditary prince who died in November. He acquired the property—a five-bedroom home built in 1960—for $1.8 million in 1987. The estate spans 1.2 acres and includes six bathrooms, one half-bathroom and a pool.
Albrecht’s estate was listed for $45 million earlier this year by Liza Pulitzer and Whitney McGurk with Brown Harris Stevens.
