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Trump Family Raises Price on Palm Beach Mansion to $59M

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Here’s an interesting home selling strategy. If your luxury beach house doesn’t sell, raise the price.

An oceanfront mansion in Palm Beach connected to the Trump family is back on the market with a $10 million price increase. It’s now available for $59 million.

In March 2021, the home was listed for $49 million. Without attracting a buyer, the home came off the market in May.

Now it’s back—at a higher price point.

That isn’t exactly the standard operating procedure for a savvy seller. But the new asking price does reflect the reality of real estate in Palm Beach.

Hot housing market

“Fifty million dollars is the new $20 million,” says Jeff Lichtenstein, the owner and broker of Echo Fine Properties, a luxury real estate brokerage selling real estate in Palm Beach County.

He adds this property provides a “phenomenal location on the Island.”

Palm Beach, FL
Palm Beach, FL

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With 275 active listings in the ZIP code, this Trump-owned home is the third highest-priced home in Palm Beach. The upscale resort town boasts a median list price of $2.7 million and homes spend an average of 65 days on the market.

The beachfront abode had been owned by Maryanne Trump Barry, a retired federal appeals judge and the sister of former President Donald Trump. She purchased the place in 2004 for $11.5 million. It’s located just across the street from Trump’s Mar-a-Lago club, and is steps to the sandy beach.

The Trump family member placed her longtime estate on the market for $23.9 million at the end of 2017.

She ended up keeping the place within the family, selling for $22.9 million to an entity connected to Eric Trump, Mansion Global reported.

As we previously reported, the Trump family proceeded to update the interior, and then placed the property on the rental market, for a hefty $100,000 a month.

Look inside

Taking a look at the photos from the previous listing, there appears to be no change to the home, other than the price.

Built in 1956, the Bermuda-style abode spans 8,269 square feet, with eight bedrooms, eight full bathrooms, plus three half-bathrooms.

Offering direct oceanfront access, the beach house comes with 194 feet of ocean frontage.

Exterior
Exterior

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Features of the sunny space include an open entertaining space with a formal living room, dining room, sunroom, library, and wet bar.

Walls of glass look out to Atlantic Ocean views. The modernized white kitchen features two ovens and a double sink.

The outdoor space is a high point, with a waterfront balcony, patio, and pool.

Lawrence Moens with Lawrence A. Moens Associates holds the listing.

The post Trump Family Raises Price on Palm Beach Mansion to $59M appeared first on Real Estate News & Insights | realtor.com®.

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