A 6,789-square-foot Georgian Colonial-style mansion described by its listing agent as “the quintessential Palm Beach home” has been listed for $19.9 million.
The two-story home, at 153 Kings Road, sits on a .28-acre lot in the Estate Section of Palm Beach.
“The Estate Section is the most expensive part of Palm Beach from a single-family-home perspective,” said Dana Koch, a real estate agent with The Corcoran Group in Palm Beach, who holds the listing along with Paulette Koch. “Larger pieces of land and larger homes are historically located in the Estate Section.”
The home has five bedrooms, six full baths and three half baths. Additional features include two offices, a gourmet kitchen, a wet bar, elevator, fireplace and a whole-house generator. Exterior features include a pool, loggia and spaces for entertaining.
Public records show that the current owners purchased the property in March 2004 for $2.575 million. Koch said the original house on the property sustained damage from a hurricane and that the owners rebuilt the home, which was completed in 2009.
“This is a newer house with an old soul,” said Koch. “It’s symmetrical and has a lot of attributes you’d find in an older home. It has a very old-world Palm Beach feel.”
Like many areas in South Florida, prices in Palm Beach have risen sharply due to strong demand and limited supply. According to brokerage Douglas Elliman Real Estate, the median sales price of a luxury home in Palm Beach rose 148.7 percent between the fourth quarter of 2020 and the fourth quarter of 2021. Inventory declined by 29.4 percent during the same period. The average price per square foot of a Palm Beach luxury home rose to a record high in the fourth quarter of 2021 for the fourth consecutive quarter.
“There’s not a lot of product in the under-$20 million market,” Koch said. “This is for someone who likes old-world Palm Beach and wants a piece of how Palm Beach used to be.”