$42M Waterfront Estate in Palm Beach Is Most Expensive New Listing

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A $42 million waterfront property in Palm Beach, FL, has landed on the market for the first time in nearly 50 years—and it snagged the title of most expensive new listing this week on realtor.com®.

Fashion designer and preservationist Philip Hulitar and his wife, Mary Hulitar, purchased the home in 1971. Mary died earlier this year, while Philip died in 1992. They left behind an intriguing legacy with this enduring estate.

The Bermuda-style estate features spectacular water views with nearly 240 feet of oceanfront and a pool. The interior of the 12,062-square-foot home offers a bright and colorful palette and walls of windows. There are seven bedrooms, nine baths, and two half-baths.

The home was built for entrepreneur Phillip Danforth Armour III in 1947. The home’s designer, Marion Sims Wyeth, was the same architect behind President Donald Trump’s nearby Mar-a-Lago, notes the Wall Street Journal.

Philip Hulitar was also an artist known for his work restoring some of the magnificent mansions of Palm Beach. The listing notes that “his influence can be seen in the beauty of the home today.”

And not only is it beautiful—it’s also big. “This property is the largest property … available in all of Palm Beach,” says listing agent Ashley McIntosh of Douglas Elliman Palm Beach.

Dining and living space with walls of glass

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Family room

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Entry

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“The home’s layout is centered around a courtyard with a huge swimming pool,” McIntosh adds. “The traditional-style interiors present floors of marble and tile, metalwork details, pecky cypress ceilings, and expansive windows offering sea and garden views.”

Ocean and beach views are plentiful throughout the home, according to the agent. “The wood-paneled living room, master bedroom, and library overlook wide views of the ocean and beach.”

The property’s appeal might also lie in its stunning location. Depending on the buyer’s preference, a renovation might be in order, or the grand old mansion could face the prospect of a tear-down.

While $42 million is a lot to shell out for a fixer-upper, a buyer should feel good about where the money is going. According to the Journal, the Hulitars’ daughters plan to donate the proceeds of the sale to the Hulitar Family Foundation, which supports the Hospice Foundation of Palm Beach and the Preservation Foundation of Palm Beach among other causes.

“There’s no overstating the opportunity this property offers to a buyer wanting prime, direct, oceanfront living on Palm Beach,” McIntosh adds.

The post $42M Waterfront Estate in Palm Beach Is Most Expensive New Listing appeared first on Real Estate News & Insights | realtor.com®.

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