A striking West Palm Beach home, painted in bold black and white swirls, circles, and diamond patterns, is now on the market for $725,000, a 178% increase from $260,000 in 2019. Located just south of the city’s bustling downtown, the 1,340-square-foot house has captured attention with its unique artistic design and modern finishes.
The house, built in 1940, has served as a short-term rental since Gene Maltsev, a New York-based real estate agent and modern art enthusiast, purchased it in 2019. Wanting to make the property stand out, Maltsev chose not to go with the traditional neutral exterior and instead sought out intuitive abstract artist Annissa Zak to transform the house into a living art piece, now known as The Black and White House. Inspired by the renowned Wynwood neighborhood in Miami, known for its large-scale murals, Maltsev aimed to create a modern art home that would attract renters and visitors.
The property also includes a 450-square-foot guest house painted in a similar artistic style, offering additional space for guests or renters.
While the exterior’s eye-catching design is sure to draw attention, the inside of the home is equally impressive. The four-bedroom, two-bathroom main house features sleek, modern finishes, while maintaining its original 1940s charm, including hardwood floors and an original fireplace. The black and white theme extends throughout the interior, with painted staircase risers and dramatic wallpaper designs creating a cohesive aesthetic. The separate guest house offers one bedroom and one bathroom, continuing the home’s bold design choices.
Zak, the artist behind the home’s unique appearance, described the project as an opportunity to turn each part of the house into a different art installation. “The non-repetitious and interconnected lines act in opposition to our daily encounter with time as a mundane experience fueled by habits,” Zak said in a previous interview.
Since its transformation, the house has drawn a variety of short-term renters, including music video producers, models, and social media influencers who have used the property’s artistic setting as a backdrop for their creative projects.
Despite the dramatic 178% price increase from when Maltsev first purchased the property, the home’s listing price of $725,000 may not be as “outrageous” as it seems. West Palm Beach’s real estate market has seen prices soar in recent years, with nearby homes experiencing similar spikes. For instance, the home directly behind Maltsev’s, located at 412 El Prado, sold for $780,000 in July, reflecting a 57.5% increase since its previous sale in 2021.
“I don’t think the price is outrageous at all,” said Don Moore, a broker associate with Compass. “For as unique as it is, it’s priced reasonable for this market.”
Moore also noted that as home prices rise in West Palm Beach’s coveted historic neighborhoods to the east, more buyers are being pushed west of Dixie Highway, where the home is located. This area, which includes Antique Row, is still considered affordable and offers fewer historic restrictions, giving buyers more freedom to remodel or rebuild.
Maltsev admits he’s testing the waters with the $725,000 price tag and isn’t in a rush to sell. While the home’s unique design is a major selling point for short-term rentals, he acknowledged that it might require a very specific buyer to appreciate the property’s aesthetic.
If the home doesn’t sell this season, Maltsev said he might consider painting the exterior a more neutral color depending on feedback from potential buyers. “It has to be a very unique buyer who likes this aesthetic or another short-term rental operator,” he said.
With its artistic flair and prime location, the 411 El Vedado home stands out as a one-of-a-kind offering in West Palm Beach’s hot real estate market. Whether it remains a short-term rental or finds a buyer with a taste for bold design, it’s sure to continue turning heads.
Whether you're looking for a hand-painted art house or a property with traditional South Florida charm, everyone has a dream home. For all your South Florida real estate needs, reach out to the Mastropieri Group to find the ideal home for you. Contact us today 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
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