The $74 Million Mega Mansion | 1220 South Ocean Boulevard
When the listing price is reduced by $100 million and the house remains the most expensive
mansion in one of the country's wealthiest communities, Palm Beach, Florida, you know
you're dealing with an astronomically expensive home.
Not far from the well-known Breakers and Worth Avenue.
Today we will tell you about the $74 Million Mega Mansion, 1220 South Ocean Boulevard.
Barbie's fantasy home is real, and it is not cheap.
This 20,129-square-foot spec house on South Ocean Boulevard, completed just last year,
is marketed for $74 million, making it the most expensive property on the Island of Palm
Beach.
Palm Beach is an incorporated town in the United States of America's Palm Beach County.
The Intracoastal Waterway separates the town from many other cities, notably West Palm
Beach and Lake Worth Beach, to its west, while Palm Beach shares a tiny piece of the latter's
southern boundary with South Palm Beach.
Palm Beach had an estimated year-round population of 8,348 people in 2010, and an estimated
population of 8,816 people in 2019, up by about 25,000 people between November and April.
Around 3,000 years ago, the Jaega came on the modern-day island of Palm Beach.
White settlers arrived in the area in 1872, and a post office was established five years
later.
Palm Beach's first hotel, the Cocoanut Grove House, was built by Elisha Newton "Cap" Dimick,
later the town's first mayor, in 1880, but Standard Oil mogul Henry Flagler was important
in transforming the island of jungles and marshes into a winter vacation for the wealthy.
In 1894, Flagler and his colleagues built the Royal Poinciana Hotel, The Breakers Hotel
in 1896, and Whitehall Hotel in 1902; in 1894, they extended the Florida East Coast Railway
southward to the area; and in 1894, they formed a separate community for hotel workers, which
became West Palm Beach.
Palm Beach became a municipality on April 17, 1911.
Between 1919 and 1924, Addison Mizner designed 67 structures in Fort Lauderdale, including
El Mirasol, the Everglades Club, La Querida, the William Gray Warden House, and Via Mizner,
which is a portion of Worth Avenue.
According to Forbes, Palm Beach has at least 30 billionaires, and according to Bloomberg
News, the municipality was the 27th wealthiest in the United States in 2016.
The town has been home to many famous and affluent people, including US presidents John
F. Kennedy and Donald Trump.
Worth Avenue, Royal Poinciana Plaza, and the Royal Poinciana Way Historic District are
just a few of the premium shopping districts in Palm Beach.
Do you think it is crazy?
Yes, it is.
However, the Wall Street Journal says that neighboring homes have recently sold for $77.5
million and $68.5 million, respectively.
It’s not called Billionaire's Row for no reason.
The 20,129-square-foot pad, which lies on 2.5 acres with deeded water access, has 9
bedrooms, 17 bathrooms, and 7,000 square feet of additional space in the form of a loggia,
garage, and guest house.
The residence contains ideas from French architecture in meticulous details everywhere, from the
front entrance to the crown moulding on the ceiling, according to listing agent Jim McCann
of the Corcoran Group.
Hence in short, this is one of the most opulent and private waterfront estate residences ever
constructed on Palm Beach Island.
This French-inspired masterpiece, finished in 2011, is located along renowned Billionaire's
Row, just four miles from Palm Beach International Airport and the private jet terminals, and
minutes from world-famous Worth Avenue, shopping, restaurants, private clubs, and world-class
marinas.
This exquisite and refined mansion is gracefully sited on 2.5 private and secure acres, producing
a classic and highly stunning approach that progresses from the ornamental iron gates
via sculptured gardens and fountains to a large car court.
The estate is marked by exquisite craftsmanship, flawless attention to every detail, and is
calibrated for 21st Century living, with almost 20,000 square feet of living space and an
extra 7,000 square feet of loggias, garages, and a guest house.
A showpiece home for an art collector's fantasy.
Dockage.
There is a separate service entrance gate with plenty of onsite parking.
This is a crucial characteristic.
Have you been blown away?
Consider this: the home was previously advertised for $84 million, which means the current price
is approximately 12% lower.
However, this billionaire row has many gems to talk about.
Understand that the Huttons were not the only Billionaires Row tycoons to lament their financial
woes.
According to The Shiny Sheet's real estate editor Darrell Hofheinz, Ken Griffin cancelled
plans to build his longer-than-a-football-field seaside property in April 2018.
Griffin told building officials that his authorized plans would result in "significant cost overruns,"
forcing him to put the project on hold for the time being.
Griffin's Providencia Partners invested $99 million purchasing a nearby property the next
year, with plans to demolish the previous home.
The Huttons received a new and larger Hussar, afterwards known as Sea Cloud, a 320-foot,
four-masted sailing boat with a 70-member crew, few seasons after Mar-a-Lago was constructed.
The universal allure of Billionaires Row early on was a taste for excess and folly.
The gap between the Mar-a-Lago Club and the Bath & Tennis Club is now much wider than
the 40-foot right-of-way that divides them.
The clubs exist as alternative universes in separate realms, much like the gap between
Palm Beach's Right Wing and Left Wing.
Billionaires Row to Widener's Curve is a three-quarter-mile stretch of paradoxes and oddities that are
frequent in Palm Beach's social and cultural history.
After decades of championing Addison Mizner's work and the Town's historic preservation
program, heiress Alice Delamar's property was de-landmarked, allowing it to be demolished
and partitioned.
The seaside Puertas Viegas at 1410 South Ocean, designed by Marion Sims Wyeth, was not recognized
as a landmark, although Regents Park was.
Regents Park, designed by Clarence Mack, is a mid-century subdivision with facades based
on John Volk's Royal Poinciana Shopping Plaza.
Tom Waldron made news in 1984 as a "silent partner" in a $13 million Mar-a-Lago deal;
a decade later, he was convicted of bank fraud and sentenced to three years in a federal
prison camp.
When Victor Vargas, a Venezuelan banker and polo supporter, divorced his first wife Carmen,
she stayed in their 1960 South Ocean mansion, $33.6 million, while Vargas and his second
wife Maria Beatriz went up Billionaires Row, paying George Lindemann $68 million for 60
Blossom Way.
Lazaris lived at 1423 South Ocean with his ex-wife Peny North and her current husband
Michaell North , who handled Lazaris' New Age company Concept Synergy.
So many billionaires living as neighbors, obviously the price is high for an average
person but not for billionaires.
Billionaire row meant to have more billionaires.
That is all for today folks & we’ll see you in the next video!