Palm Beach Mansion Sells for $43M After Tripling in Value Since 2017

Published: June 23rd, 2026

A 1928 Maurice Fatio estate in the Estate Section of Palm Beach Island traded for $43.25 million in June 2026. The seller paid $13.96 million in 2017, meaning this property more than tripled in value in under a decade.

Key Takeaways

The 9,853-square-foot mansion at 115 Via La Selva sold for $4,390 per square foot.
The buyer is Thomas J. Swan III, co-CEO of a 90-year-old Boston manufacturing and real estate company.
Palm Beach Island now has at least 58 billionaires and averages 84% cash transactions.

If you want to understand what is happening in Palm Beach real estate right now, look at this sale. A nearly 100-year-old mansion, designed by one of the island's most legendary architects, just changed hands for more than triple what the seller paid less than ten years ago. The property is not even on the ocean or the Intracoastal. It sits in the Estate Section, a short walk from the beach, on just under an acre. And someone wrote a $43.25 million check to own it.

That is Palm Beach Island in 2026. The scarcity, history, status, and concentration of wealth have pushed pricing into territory that would have seemed unrealistic a decade ago. This sale is a data point for anyone trying to understand where the market is headed.

What sold and for how much?

The property is located at 115 Via La Selva, Palm Beach, FL 33480, in the Estate Section of Palm Beach Island. The buyer paid $43.25 million, or $4,390 per square foot of living area.

Property basics: 9,853 square feet of living space. Eight bedrooms, nine full bathrooms, three half-baths. The home sits on a 0.84-acre lot and was built in 1928. The architect was Maurice Fatio, a Swiss-born designer responsible for some of Palm Beach's most iconic Mediterranean Revival estates.

Features: The property includes a garden, pool, loggia, Cuban tile floors, an office with a copper ceiling, a fireplace, a fitness room, and a generator. It is a short walk from the beach but does not have direct ocean or Intracoastal frontage.

The seller, Philip B. Korsant (co-founder of venture capital firm Long Light Capital), purchased the property for $13.96 million in 2017. That means the home appreciated by more than 200% in under a decade. The buyer, Thomas J. Swan III, took out a $39 million mortgage from Needham Bank to finance the purchase. That mortgage also covers Swan's penthouse at 100 Royal Palm Way.

As Larry Mastropieri explained on the Discover South Florida Podcast: "He paid $43 million, and it is not even directly on the beach or the Intracoastal. That tells you how strong Palm Beach Island pricing is right now. Almost an acre there, even without direct water frontage, still commands a massive number."

Who is the buyer?

The buyer is Thomas J. Swan III, co-CEO and Director of The Swan Group, a Boston-area family business now over 90 years old. The company was founded in 1932 by Swan's grandfather, Thomas J. Swan, alongside Emerson Swan, Inc. Today, the portfolio includes manufacturing companies (Flexcon Industries, Vent-Rite Valve Corp., Skidmore Pump, Smith's Environmental Products, Global Water Solutions) and a commercial real estate arm called Swan Realty Group.

Swan III graduated from Harvard College and Georgetown University Law School. Before joining the family business, he worked as a corporate lawyer and investment banker. He is known for philanthropy focused on education and mental health.

The Swan family has maintained a connection to Palm Beach for more than 15 years. Thomas J. Swan Jr. (Swan III's father and former Swan Group chairman) died in Palm Beach in March 2011. Swan III also recently sold a condo at One Royal Palm Way for $6.5 million in May 2026, suggesting he is consolidating his Palm Beach footprint into this estate.

Interested in Palm Beach Island real estate? Talk to a Palm Beach real estate agent who understands this market's unique dynamics. Reach out to The Mastropieri Group or call (561) 556-9853.

Why does Palm Beach Island command these prices?

The Town of Palm Beach is one of the most concentrated areas of wealth in the world. According to a Palm Beach Daily News analysis of Forbes data, at least 58 to 59 billionaires own property on the island. Their combined net worth is approximately $495 billion.

Some of the names: Thomas Peterffy (Interactive Brokers, $87.6 billion), Julia Koch (Koch Industries, $79.8 billion), Stephen Schwarzman (Blackstone CEO, $55.6 billion), Ken Griffin (Citadel, $48.3 billion, who owns a $450 million oceanfront estate), Abigail Johnson (Fidelity CEO, $46.6 billion), David Tepper ($23.4 billion), and Henry Kravis (KKR, $19.3 billion). Donald Trump's primary residence is Mar-a-Lago. Fashion designer Tom Ford paid $51 million for a Palm Beach home in 2022.

The market data reflects this wealth concentration. According to the Koolik Group/Compass 2026 guide and Premier Estate Properties, the average home value on Palm Beach Island reached approximately $9.8 million in 2025, up 118.2% over five years (the highest five-year appreciation rate of any major Florida city). The median single-family sale price in the first half of 2025 was $12.9 million. The median price per square foot sits around $1,830.

Perhaps the most telling statistic: 84% of all Palm Beach transactions close in cash. When buyers do not need financing, they can move faster, compete harder, and pay more. That dynamic has pushed the $20 million to $100 million segment into a meaningful and growing share of annual volume.

A recent Mizner-designed oceanfront estate sold for $77 million earlier this year. And Palm Beach recently topped the list of Florida's richest suburbs. This $43.25 million sale fits the pattern.

How does this sale compare to other recent deals?

At $4,390 per square foot, the 115 Via La Selva sale is above the island's median of $1,830 per square foot. But that premium is consistent with trophy Estate Section product, where Fatio-designed landmarked estates command significant premiums for their architectural rarity and irreplaceable location.

1230 S Ocean Blvd, Palm Beach: Sold for $40 million in February 2025. Estate Section, just south of Mar-a-Lago. A renovated 1986 house on a half-acre-plus lot.

North Lake Way estate, Palm Beach: Robert Stiller (K-Cup/Keurig billionaire) sold his lakefront estate for $72 million in late 2025, down significantly from the original $95 million ask. Six bedrooms, Intracoastal frontage.

1940 S Ocean Blvd, Manalapan: David MacNeil (WeatherTech founder) paid $68.3 million in February 2026 for a 16,582-square-foot ocean-to-Intracoastal estate built in 2022 on land Billy Joel once owned. That was the most expensive U.S. home sale that month.

118 Bears Club Dr, Jupiter: Sold for $41 million in February 2026. The Bear's Club is a Jack Nicklaus-designed private golf community where Michael Jordan and Rory McIlroy are members. We recently covered a similar private golf course development in West Palm Beach.

Larry put it this way: "This sale shows how powerful Palm Beach Island real estate has become. The property is historic, architecturally significant, nearly an acre, and located in one of the wealthiest enclaves in the world. Even without direct waterfront, the combination of land, history, scarcity, and status can justify a number like $43 million."

What does this mean for Palm Beach buyers?

For buyers considering Palm Beach Island, this sale is a reminder that the market rewards scarcity and patience. The seller held for about nine years and walked away with a gain of roughly $29 million. The buyer, meanwhile, acquired a piece of architectural history in one of the most exclusive addresses in America.

The island is only 16 miles long. It has approximately 9,000 to 10,000 year-round residents, swelling to 30,000-plus during season (January through April). There is no new land to develop. When a Fatio-designed estate hits the market, it does not stay available for long.

If you are exploring luxury real estate on Palm Beach Island, understanding the pricing dynamics, the architectural significance, and the buyer profile is essential. This is not a market where you can wait and hope for a discount. The wealth concentration, cash-heavy buyer pool, and limited inventory mean that trophy properties move quickly and command premiums.

We also recently covered Celine Dion's $20 million Jupiter estate finding a buyer, another example of how the ultra-luxury segment in Palm Beach County continues to attract high-profile transactions.

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Frequently Asked Questions

What is Maurice Fatio's significance in Palm Beach architecture?

Maurice Fatio was a Swiss-born architect who designed some of Palm Beach's most iconic estates during the 1920s through 1940s. His Mediterranean Revival designs are considered landmarks, and properties bearing his name typically command significant premiums due to their architectural rarity and historical importance.

Where is the Estate Section of Palm Beach Island?

The Estate Section is one of Palm Beach Island's most prestigious residential areas, located in the island's central portion. Properties here are typically larger estate homes on sizable lots, a short walk from the beach, and highly sought after by ultra-high-net-worth buyers.

Why did the 115 Via La Selva mansion triple in value since 2017?

Several factors contributed: Palm Beach Island experienced 118.2% appreciation over five years (the highest of any major Florida city), billionaire migration accelerated post-2020, inventory remained extremely limited, and Fatio-designed estates are irreplaceable architectural assets that appreciate faster than typical inventory.

How does Palm Beach Island pricing compare to Manalapan and Jupiter?

Palm Beach Island typically commands the highest price per square foot due to its concentration of billionaires and architectural heritage. Manalapan offers ocean-to-Intracoastal estates at slightly lower price points. Jupiter (particularly The Bear's Club) attracts sports figures and offers golf community living at $30 million to $50 million for trophy homes.

Can buyers still find properties under $20 million on Palm Beach Island?

Yes, but options are limited. Condominiums along South Ocean Boulevard and smaller single-family homes away from the water can occasionally be found in the $5 million to $15 million range. However, estate-quality homes with land, history, and premium locations are increasingly concentrated above $20 million.

Local help for buyers and investors in Palm Beach

If you are buying, selling, or investing in Palm Beach, West Palm Beach, or Palm Beach Gardens, understanding the nuances of this market matters. Reach out to The Mastropieri Group, Realtors®.

For practical, hands-on support across Palm Beach County, call (561) 556-9853.