- A direct-beachfront estate at 1491 N. Ocean Blvd. in Palm Beach is priced at $205 million, a town record for a property in the multiple listing service.
- The late Frank Wilkens and his late wife, Maureen, built the residence in 2005 as a custom home.
- The estate comprises more than 4 acres and has a six-bedroom main residence and a two-bedroom guest cottage.
With a price of $205 million, a Palm Beach oceanfront estate has set a new asking-price record for properties marketed in the multiple listing service, the Palm Beach Daily News has confirmed.
The estate at 1491 N. Ocean Blvd. encompasses 4.76 acres, according to property records. Facing about 230 feet of direct beachfront with an expansive dune parcel, the estate is about a third of a mile south of the inlet at the northern tip of the island. The neighborhood’s pristine stretch of shoreline is considered among the choicest beaches in town, real estate observers say.
The estate was the home of the late businessman Frank Wilkins and his late wife, Maureen, who paid about $14 million for the property in 2002, courthouse records show. Their six-bedroom main residence — with a two-bedroom guest cottage — was built as a custom home and completed in 2005.
The property had once been owned by the late Aldo Gucci of the Gucci fashion empire, whose estate sold it in 1993.
In all, the residence built by the Wilkinsons has 23,259 square feet of living space, inside and out, according to property records. Of that total, 14,496 square feet are air conditioned.
Among the estate’s amenities are two swimming pools — one facing the beach and the other tucked into a courtyard on the west side of the house.
Broker Christian Angle of Christian Angle Real Estate is representing the property.
“This is truly a one-of-a-kind, once-in-a-generation estate with endless possibilities,” Angle told the Palm Beach Daily News before declining further comment.
Maureen Wilkens died in April at 90. Her husband, who died at 81 in 2011, co-founded Wilkens and Nanovic, which managed corporate pension funds. The couple had ties to Osterville, Massachusetts.
With Mediterranean-style architecture, the two-story residence has multiple windows and French doors to capture views of the sea. On the east side of the house, a covered loggia faces steps that lead down to the beachfront swimming pool. Next to a whirlpool spa, the poolside cabana has its own living room, kitchen and a rooftop terrace.
The main house features generously sized rooms with detailed ceilings, fine finishes and luxury materials. The layout includes grandly scaled living room and family rooms, along with a library and a media room.
The guest cottage also has a living room and kitchen.
On Nov. 12, Wall Street Journal was the first media outlet to report the estate was entering the market. The listing went active in the MLS on Nov. 13.
The asking price of one other property in Palm Beach has hit $200 million but that listing is for a vacant ocean-to-lake property across town at 1980 S. Ocean Blvd. Measuring about 2 acres, its $200 million asking price includes concept architectural plans for a mansion and guesthouse. Agent Shelly Newman of the Corcoran Group holds the listing on South Ocean Boulevard.
The only other residence that approaches the $205 million price tag of the Wilkins estate entered the MLS less than a week ago. That property, priced at $185 million, is another North End beachfront residence, at 911 N. Ocean Blvd. Its mid-1970s house was built as a custom home for the late real estate developer Murray Goodman and his widow, Joan “Joanie” Goodman. With direct beachfront, the Goodman estate encompasses about 2.5 acres with around 250 feet of shoreline. Illustrated Properties agent Marley Goodman Overman is co-listing the property for her mother with agent Gary Pohrer of Serhant.
(This story was updated to add new information)
This is a developing story. Check back for updates.
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call 561-820-3831 or tweet @PBDN_Hofheinz. Subscribe today to support our journalism.
