$61.5M Ocean-to-Lake Estate in Palm Beach Is Most Expensive New Listing

A brand-new oceanfront mansion in Palm Beach, FL, just splashed onto the market for $61.5 million, making it this week’s most expensive new listing on realtor.com®.

Located in an ultraexclusive enclave dubbed “Billionaire’s Row,” the 21,305-square-foot mansion sits on nearly 2 acres, with 200 feet of ocean frontage on one side and 180 feet of lake frontage on the other. According to the listing, the seven-bedroom home was designed by the “award-winning architectural firm Bridges & Marsh.”

The sellers are Keith and Tammy Frankel, according to the Real Deal. Keith, CEO of Vitaquest International, reportedly purchased the land for $15.9 million in 2007. The couple had listed the property for $65 million in 2014, before the home was finished. It’s said to be one of only 19 ocean-to-lake offerings in Palm Beach.

This week's most expensive home is in Palm Beach, FL. This week’s most expensive home is in Palm Beach, FL.

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Living room with water views Living room with water views

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Dining room with butler's pantry Dining room with butler’s pantry

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Master suite with private balcony Master suite with private balcony

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Outdoor lounge with bar Outdoor lounge with bar

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Infinity pool Infinity pool

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So what else does this palatial estate have to offer besides an unbeatable location? Let’s take a look. 

The estate features a “clean coastal style and airy elegance,” according to the listing. The main living and entertaining spaces are found on the first level, and water views throughout. The kitchen is clad in white marble and quartz and comes with a large island and Sub-Zero and Wolf appliances. The eat-in cooking area includes a breakfast nook.

The dining room connects to the kitchen through a butler’s pantry. Theres’s also a wood-paneled library and a lounge with a bar. The master suite includes a morning bar, dual baths, walk-in closets, and balconies on the second level. The three-bedroom guest wing has a private sitting area and elevator access. The lower level features a theater, massage room, sauna, exercise room, and cabana with an open-air bar and loggia. 

The grounds include an infinity pool and spa, terraces, and a separate guesthouse built in the style of the main home. The property comes with a private pier on the Intracoastal Waterway as well as a beach cabana. Plus there’s a four-car garage. 

We’ll see if this pricey waterfront property makes waves with buyers. John Dewing of Sotheby’s International Realty holds the listing.

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