December/January: Letter from Palm Beach: Random Acts of Beauty

John Cregan - January 31, 2022
Random of Acts of Beauty
Lisa and John Cregan
What's the opposite of brain drain?
No one's ever going to compare 2022 Palm Beach to the wharves of New York in 1922, but new faces, new talents, new ideas continue to arrive on our doorstep. Hip restaurants are spilling onto the sidewalks, there's not a retail store space to be had and some fascinating new creative talent has joined an already embarrassingly rich roster. One of those new arrivals just served up a taste of what a little bit of Steve Job's "Think Different" can bring a community.
A few years ago, event designer Lewis Miller and his team began dotting New York with pre-dawn guerrilla installations of flowers. His exuberant, cheeky arrangements on street signs, statuary and trash cans, christened Flower Flashes, became Instagram sensations amid Manhattan's Covid-deserted streets. A gift to a solemn city.
Now a part-time Palm Beacher like so many of his clients, Miller recently gave the fountain in the little pocket park opposite Town Hall the Flower Flash treatment. But this one wasn't done by black clad ninjas in the middle of the night. No, it was broad daylight at the cordial invitation of the uber-respectable Preservation Foundation. Hey, it's still Palm Beach.
Market Color: That Was the Year That Was
2021: Deja Vu All Over Again
If you were hoping 2021 would provide a pause and a step back in prices from the wild and wooly market of 2020, sorry! Every time it felt like things were slowing down, we'd get a new surge in demand. At yearend, buyers were clearly voting with their feet rather than spend another winter dining curbside in the cold.
By some reports, about $4 billion dollars worth of property changed hands here last year. An incredible level of activity in a supposedly thin market. Although sellers became scarcer, the usual demographic churn of downsizing, death and divorce still provided inventory. And the prices being received by their neighbors encouraged others to pull the trigger and put their homes up for sale. But with so much demand, many of those properties never make it to the MLS, Redfin or Zillow.
2022 is starting off an awful lot like 2021 (one reason we didn't get our December newsletter out!). Many of our sales are happening pre-market/off-market though. We've said this before, but please be sure we know what you're looking for. This is not a wait and see market.
(charts below courtesy of Rabideau Klein).
*Our Newest Listing* – On Your Doorstep, Lake Trail and the Four Arts
441 Seaview Avenue

441 Seaview Avenue, Palm Beach

$7,200,000

3
Bedrooms
 3
Bathrooms
 2,828
Sq Ft.
For anyone who's ever said, ''I'd love to find a charming little house in town'' this is the one. Elegant 1920's architecture, 10' ceilings, a renovated kitchen and an inviting living room centered on a grand, oversized fireplace. Two bedrooms, two baths in the main house plus a one bedroom suite guest cottage overlooking the garden. All this on a dead-end, one-way street, just 50 yards from the Four Arts library and sculpture garden. Neighborhood beach access at the ocean end of Seaspray Avenue, and an easy stroll via the adjacent Lake Trail to Worth Avenue and Royal Poinciana shops and restaurants.
Request A Private Showing
Pending – Our Buyer 425 Worth Avenue 2A "The Villas"
Elegantly Renovated at The Villas

425 Worth Avenue, Apt 2a, Palm Beach

$7,495,000

3
Bedrooms
 5
Bathrooms
 3,232
Sq Ft.
Located in the prestigious Villas Condominium on Worth Avenue, this stunning fully renovated corner unit has 3 bedrooms, and 5 full baths with amazing views of the water. The residence offers beautiful millwork throughout, spacious living and dining areas, ample storage, and much more. The eat-in kitchen has top-of-the-line appliances. The laundry room could be converted back to a 4th bedroom if needed. Other features include a beautiful small bar area with ice maker and mini fridge, a pecky cypress paneled tv area, and a waterfront library. The master bedroom offers water views, dual baths, and lots of closet space. Hurricane impact doors and windows. Doorman building, full time manager, located on Worth Avenue, close to restaurants, shopping, and town docks.
Request A Private Showing
Pending – Our Buyer 127 Peruvian Ave #205
27 Peruvian Ave #205 - With ocean views down to the Town Beach, this little jewel box of a 2bed/2bath apartment is situated in The Chalet by the Ocean, a boutique building of just 12 units right in the middle of everything. A short stroll to beach, shops and restaurants, it's a thoughtfully renovated apartment that came beautifully furnished and move-in ready. List price $3.995m
And a Big Thank You to our Friends and Clients who made us Top 100 Again. It was quite a year.
Lisa and John Cregan
Senior Global Real Estate Advisors
SL3439962

Sotheby's International Realty
340 Royal Poinciana Way Ste M314 Palm Beach FL 33480
© 2022 Sotheby’s International Realty. All Rights Reserved. Sotheby’s International Realty® is a registered trademark. Each Sotheby’s International Realty office is independently owned and operated, except those operated by Sotheby’s International Realty, Inc. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. All offerings are subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Equal Housing Opportunity.

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As a real estate team, Lisa and John Cregan comprise a perfectly complementary set of skills- Lisa’s deep knowledge of architecture and interior design combined with John’s decades of experience in market analysis, finance and negotiation.

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