An 11,706-square-foot oceanfront estate in Palm Beach that is one of the most-expensive listed homes in Florida has hit the market, and it can be yours for just $78.5 million.
The property, on 1.4 acres at 149 E. Inlet Drive, sits at the northern tip of Palm Beach island, with 97 feet of direct oceanfront footage, as well as frontage on the Palm Beach Inlet. Completed in 2020, the home was custom built by entrepreneur Myron Miller and his wife, Michelle Miller.
“It’s the gateway to Palm Beach if you’re on the water,” said Dana Koch, a real estate agent with The Corcoran Group in Palm Beach, who shares the listing with colleague Paulette Koch. “And that’s what this property is all about — the water. There are no better views on the entire island. It’s magical.”
The gated two-story California Contemporary estate, designed by architect Roger Janssen and built by Seabreeze Construction, has a total of seven bedrooms, nine full baths and two half baths in the main house and a detached guest house. Features include a gym, home theater, sauna and game room, as well as 180-degree water views of both the ocean and inlet.
The owners purchased the property in March 2017 for $14.64 million and constructed the home over a two-year period. Koch said he’s been showing the house to “the usual suspects — captains of industry leaving high-tax states to make this their primary residence.”
According to brokerage Douglas Elliman Real Estate, the Palm Beach real estate market saw significant price gains and sales volume during the first quarter of 2021, and listing inventory fell to new lows. Single-family home sales jumped 48.5 percent and median prices rose sharply year over year, to $6.6 million.
“The market in Palm Beach has never been hotter,” Koch said. “In fact, there are approximately 30 houses left on the island for sale. We are selling ourselves out of a job.”