Welcome to The Dirt! I’m real estate, weather and critter reporter Kimberly Miller with the latest developments in the sizzling market.
A glamorous new condominium dubbed The Berkeley has broken ground on the shores of West Palm Beach’s Clear Lake and although it is coming from the same developer who built the even more glamorous Bristol, this tower is geared toward families because units will be priced between $1.8 million and $4 million.
And this is where I feel like my brain is breaking because those are the cheap units. For families. This is also where I would like to go back to college and smack my young self in the head until I choose a more lucrative career. Look daddy, teacher says every time the NYSE bell rings a finance grad gets $1 million.
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Also this week, the Palm Beach Kennel Club is about to get a new building so we will be more enticed to lose wager our money with visions of a 3-bedroom unit at The Berkeley dancing in our heads, Palm Beach continues to ooze west with billionaire Steve Wynn dipping his toes into West Palm Beach’s real estate scene, and on the island, another Jimmy Buffett home is under contract.
Palm Beach bungalow owned by the late Jimmy Buffett goes under contract
Old timers talk of an era when Palm Beach wasn’t so tightly-wound. A time when beach gates were open 24/7 and metered parking was the exception and, well, when the president elect wasn’t a resident. Root Trail, where the late “Margaritaville” crooner Jimmy Buffett owned three homes, is a window into that period with modest cottages lining a street that dead ends into the Atlantic Ocean.
Following the $6.1 million sale of his former home at 138 Root Trail in November, Buffett’s bungalow at 135A Root Trail is now listed as “pending sale” on the MLS. The asking price was $5.7 million. There’s no word yet on who the buyer might be or how much will change hands.
Casino mogul Steve Wynn bets on West Palm Beach
Billionaire Steve Wynn is a wheeler-dealer in the real estate world so his move to purchase a $12.9 million home in West Palm Beach raised some eyebrows. The city has played Cinderella (pre glass slipper) to Palm Beach for decades but continues to grow into its nickname “Wall Street South” with more financial and investment firms moving high-earning executives to the area (see post about The Berkeley above.)
The waterfront home is a knock-down but with a distant view of Mar-a-Lago, it could be redeveloped as one of the priciest parcels on Washington Road.
Palm Beach Kennel Club unveils plans for new building
Rendering of the new Palm Beach Kennel Club casino
The Palm Beach Kennel Club has operated in West Palm Beach for 92 years and maintained its indoor entertainment and casino operations despite the end of greyhound racing in 2020. With its business booming, it is planning a new facility on the north side of its property at Belvedere Road and Congress Avenue.
The 60,286-square-foot casino, which will operate 24 hours a day, frees up about 42 acres for redevelopment that could include high-rises of 2,000 residences. The one question everyone is asking, of course, is: Can I get drinks 24/7 too? No, really, what they are asking is: What happens to the iconic Palm Beach Kennel Club sign? Palm Beach Post reporter Mike Diamond has all the answers in his story on the evolving business.
Merry Christmas, and live lightly.
Kimberly Miller is a journalist for The Palm Beach Post, part of the USA Today Network of Florida. She covers real estate, weather, and the environment. Subscribe to The Dirt for a weekly real estate roundup. If you have news tips, please send them to kmiller@pbpost.com. Help support our local journalism, subscribe today.
This article originally appeared on Palm Beach Post: Jimmy Buffett beach house under contract and casino mogul Steve Wynn bets on West Palm Beach
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