Palm Beach Estate Sells for $17 Million, A 65% Value Jump in Just Three Years

In a testament to the ongoing real estate boom in Palm Beach, a luxury estate on Dunbar Road has sold for $17.09 million, marking a substantial increase from its previous sale price of $10.345 million in December 2020. This $6.75 million jump, a 65% rise in value, highlights the dramatic appreciation seen in Palm Beach properties, fueled by the post-pandemic real estate frenzy.

Located at 201 Dunbar Road, this Mediterranean-style estate was initially developed on speculation by longtime restaurateur and real estate developer Franklyn P. DeMarco Jr. The 2020 sale marked the first time the property had been sold since its completion in 2019. The most recent sale, which closed on September 10, involved two trusts, with the Six S 201 Dunbar Trust representing the buyer. Due to privacy regulations governing trusts, details on the individuals involved were not disclosed in public records.

Spanning two-fifths of an acre on Palm Beach’s near North End, the estate comprises a five-bedroom main house and a one-bedroom guesthouse, totaling 7,740 square feet of living space. The two-story home features an array of high-end amenities, including an open floor plan, high ceilings, and wood and marble flooring. Fireplaces adorn both the living and family rooms, while the formal dining room, butler’s pantry, and sophisticated lighting-control system offer a touch of luxury.

The master suite, designed for ultimate comfort, includes dual baths and expansive walk-in dressing rooms. Outdoors, a spacious loggia overlooks the pool, while the guesthouse and garage sit directly opposite.

Real estate agent Spencer Schlager of Douglas Elliman Real Estate, who handled both the 2020 and the latest sale, listed the property at $19.9 million before it went under contract in early March. Schlager declined to comment on the details of either transaction. His listing described the estate as “turn-key” and move-in ready, with every modern convenience.

This recent sale underscores the enduring appeal of Palm Beach’s luxury real estate market, where properties continue to see extraordinary gains in value. During the height of the pandemic-driven real estate surge, many homes in the area saw their prices double within a year or two, as reflected by courthouse records.

The home’s architectural pedigree includes design by renowned Palm Beach architect Patrick Segraves of SKA Architect + Planner, with construction managed by contractor Roy Dunworth. Originally marketed by Sotheby’s International Realty agent Betsy Fry, who worked closely with DeMarco on the development, the property briefly went to auction in 2020 but was returned to the MLS after no bids were secured.

This sale at 201 Dunbar Road is another indicator of Palm Beach’s resilient and highly competitive real estate market, solidifying the area as one of the nation’s most coveted addresses for luxury properties.

Reach out to The Mastropieri Group today to embark on your real estate journey with our expert realtors in Boca Raton. Give us a call at 561-544-7000 to discuss how we can assist you in achieving your real estate goals. Whether you're buying, selling, or looking for investment opportunities, our team is ready to offer expert advice and support to help you navigate the dynamic South Florida real estate market. Let us put our expertise to work for you and turn your real estate ambitions into reality.