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NewsSocietyShiny ShotsArtsReal Estate NewsLifestyleUSA TODAYObituariesE-Edition Another Palm Beach flip: House sold in December for $7M resold for $11M The house built in 1965 will be replaced by a new one to be developed on speculation, says Carl Sabatello of Sabatello Cos. Palm Beach Daily News A pair of Palm Beach real estate investors just flipped, for $11 million, a North End house their company bought in December for $7 million, according to the prices recorded at the courthouse. A Florida limited liability company sold the house built in 1965 at 216 Tradewind Drive in an off-market deal recorded Friday. The company is associated with Richard True and David G. Lambert, who have each developed and sold houses in Palm Beach. ....
Check off the sale of another new high-end house developed on speculation in Palm Beach. The sale also testifies to the demand for lakeside properties, especially those with deepwater docks, which have become increasingly scarce of late in the island s grab-and-go real estate market. In the latest of those deals, developer and builder Malasky Homes has sold, for a reported $19.25 million, a just-completed Bermuda-style house on a lakefront property at 1280 N. Lake Way, about midway between the Palm Beach Country Club and the north tip of the island. The elevation of the half-acre property affords water views from both floors of the five-bedroom house, which features a covered loggia that looks across the swimming pool and beyond the bike trail to 88 feet on the Intracoastal Waterway. In all, the residence has 7,486 square feet, records show. ....