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Like it or not, Trump’s political comeback is impacting everything around him. It’s not just his mansion’s skyscraper awning or his high-top sneakers emblazoned with his name that sparkle in Trump-esque gold. Pricey Palm Beach real estate surrounding his Mar-a-Lago home has also benefited from Donald’s return to the White House.
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The New York Post reported that homes in the area were starting to go under contract at asking prices even before President Trump declared victory on election night. An 8,900-square-foot West Palm Beach waterfront penthouse at Forte on Flagler sells for $33.5 million even though it was sold as an unfinished “grey box” for customization by the new owner. It just sold for the full asking price in dollars. Sales of homes over $10 million soared in the region in November. Eleven homes sold last month for a total of $299.8 million, a dramatic 176% increase over last year, according to Douglas Elliman. The same was true in the $5 million and above range, with three sales totaling $33.3 million in November 2023 in sharp contrast to one sale for $11.3 million.
“The renewed attention in Palm Beach is definitely tied to Donald Trump,” said Douglas Elliman’s John. “The sense of certainty is also increasing.” Reynolds, Forte on Flagler’s sales manager, told the paper.
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Multi-million dollar Palm Beach properties are often demolished in favor of new construction. That was speculation about President Trump’s friend and Fox News host Sean Hannity’s recent $23.5 million purchase. But Bob Vila, the TV handyman known for the home improvement shows “This Old House” and “Home Again,” has decided to take a different route with the 1940s home he bought a year ago for $12.5 million. I chose to walk. Mr. Villa, 78, and his wife, Diana Barrett, understandably chose not to tear it down, but rather to repair it, flip it, and sell it for $13.375 million. This is a useful way to spend your retirement.
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