November: Letter from Palm Beach: Got Science?

John Cregan - December 14, 2021
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Got Science?
Lisa and John Cregan
Palm Beach "STEM" Talk Isn't Always About Martini Glasses.
If you grew up riding a school bus to places like the Franklin Institute or the Museum of Science and Industry, you know what a revelation a great cultural institution can be to a child. Little did we know we were being exposed to what’s now called the STEM curricula (Science, Technology, Engineering and Math). Well, West Palm Beach also has just such an institution –the South Florida Science Center– serving over 300,000 young visitors every year. But the old center was built in 1961 and the only thing that ages worse than a Florida golfer's skin is a technology exhibit.
To the rescue rode Palm Beach town councilman, Lou Crampton, who never saw a windmill he couldn't tilt. After an extended search, Lou found his perfect partners in philanthropists Howard and Wendy Cox. The couple committed $20 million to a $45 million overhaul of the newly christened Cox Science Center and Aquarium. When completed in 2025, the center will encompass a 3-story, 40,000 sqft building featuring 250,000 gallons of ocean and fresh water tanks and, most urgently, a cutting-edge STEM learning studio.
We were delighted to spend a beautiful November morning watching Howard and Wendy christening their incredibly generous gift to the community. The event featured a dancing robot dog, politicians and news cameras, and some inspiring comments from Howard whose long, successful career evidences a lifelong knack for stepping up at exactly the moment his investment can make a difference.
Market Color: Junior Bankers Need Homes Too
There's lots of chatter about Goldman partners moving to Palm Beach, but they don't work alone– their teams are coming too!
And the arrival of those more junior employees has really been felt in neighboring West Palm Beach. The market for single-family homes in neighborhoods like El Cid, Flamingo Park and SoSo is red-hot with move-in ready homes near good schools receiving multiple offers.
For buyers who can do with less space, there are good rental options clustered around the BrightLine train station (with more units to come). And for those who can afford a little more, the condos lining the West Palm waterfront are a great attraction. New luxury buildings like Flagler Towers and the Forte are on the drawing boards but those are at least 3 years away. New construction La Clara is nearing completion and all but sold out. For someone looking to move in now, the best West Palm choices are existing buildings like Waterview Towers, the Trianon, Plaza and Rapallos North and South though inventory is thin and there's competition from down-sizing Palm Beachers. As the above chart shows, prices are rising as a result. But for buyers who know what they want there's enough natural condo turnover that we've consistently been able to find clients great places in the $1m-$2.5m price range.
*Our Newest Listing* – Steps to 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.
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*Pending–Our Buyer* 400 N Flagler Drive Waterview Towers 506 in West Palm Beach
Waterview Towers 506 looks out over the fleet at Palm Harbor Marina in West Palm Beach. Waterview sits just beside the North bridge on to Palm Beach island and it's a beautiful stroll over the bridge to the restaurants and shops at Royal Poinciana Plaza. Among the many amenities at Waterview are two tennis courts plus pickleball!
2,777 sqft including terraces, 3 bedrooms/3 baths
Listed at $2,495,000
*Sold–Our Buyer* 3100 South Ocean Blvd Hampton House 407S
PB Hampton 407s at 3100 S Ocean Blvd has beautiful sunset views west, north and south over the Intracoastal. The Hampton is a beachfront, full-service building with terrific common spaces including a beautifully renovated pool area and fitness center.
2,600 sqft with terraces, 2 bedrooms/2.5 baths
Listed at $2,250,000
*Pending – Our Buyer and Our Co-Listing with Christine Franks* Winthrop House on the Ocean at 100 Worth Ave #404
Winthrop House on World Famous Worth Ave

100 Worth Avenue 404, Palm Beach

$3,900,000

2
Bedrooms
 2
Bathrooms
 1,648
Sq Ft.
Classic contemporary interior, highest quality appointments throughout this recently renovated apartment. Balmy breezes and Ocean views to enjoy from the balcony enhance the living space day and evening.. Washer and dryer in the apartment. Garage parking, 24 hour doorperson, small pet with Board approval, tunnel to the beach.
Request A Private Showing
*Sold – Our Co-Listing with Christine Franks* Winthrop House – On the Ocean at 100 Worth Ave #419
Prestigious Winthrop House

100 Worth Avenue 419, Palm Beach

$2,800,000

2
Bedrooms
 2
Bathrooms
 1,610
Sq Ft.
A southern exposure from all rooms, ocean views and balmy breezes from the balcony enhance the lifestyle of this two bedroom, two bathroom apartment which could easily accommodate a private third sleeping area, Modern, neutral decor with european-stlye recently redone bathrooms. Marble floors, wall to wall carpeting in bedrooms, washer and dryer in apartment and windows in all rooms add brightness to the apartment all day. Two garage parking spaces #174 & #175.
Request A Private Showing
Lisa and John Cregan
Senior Global Real Estate Advisors
SL3439962

Sotheby's International Realty
340 Royal Poinciana Way Ste M314 Palm Beach FL 33480
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This email was sent to jfcregan@mac.com.
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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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