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Posted: 12:00 a.m. Friday, March 15, 2013

Beyond the Hedges: North End house fetches $4 million

Couple sells ‘light, happy’ custom home they built on Eden Road.

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Beyond the Hedges: North End house fetches $4 million photo
The two wings of the house at 323 Eden Road face the pool area.
Beyond the Hedges: North End house fetches $4 million photo
The northeast view from a balcony outside No. 902 in One Watermark Place shows West Palm Beach, the Intracoastal Waterway, Palm Beach and the ocean beyond. The Flagler Drive apartment has changed hands for a recorded $3.3 million.
Beyond the Hedges: North End house fetches $4 million photo
On the North End, this English Georgian-style custom home has changed hands for $4 million. A Singer Island couple bought the property at 323 Eden Road.

By Darrell Hofheinz

Daily News Real Estate Writer

J. Brent and Karen Finnegan have sold the four-bedroom custom home they built in 2000 at 323 Eden Road. An even $4 million changed hands, according to the deed recorded earlier this month by the Palm Beach County Clerk’s office.

Jeffrey W. and Cameron A. Preston of Singer Island bought the North End house, which has 6,032 square feet of living space, inside and out, on a lot that measures about a third of an acre. The home is a few blocks north of the Palm Beach Country Club.

“We’re thrilled to be moving to Palm Beach, and into such a warm and beautiful house,” said Jeff Preston, who is on the leadership team at the U.S. headquarters of the family-owned North American Development Group in West Palm Beach.

The company, which owns and develops shopping centers in the United States and Canada, was founded by its chairman, John W.S. Preston, and has multiple offices in both countries.

Agents Mia T. Morrison and Paul J. Birmingham of Fite Shavell & Associates had last listed the house at $4.495 million, down from the highest price of just under $5 million when the agency acquired the listing last April.

Agent Gary B. Pohrer, managing director of K2 Realty’s Palm Beach office, represented the Prestons in the deal. He also has their three-bedroom condominium, No. 1103 in Ocean’s Edge at Singer Island, listed for sale at $1.219 million.

This was the third Palm Beach house owned by the Finnegans, who have strong ties to New Hampshire. They travel frequently in England and have a fondness for Georgian architecture, the style of the house built for them by Wittmann Building Corp., according to a Palm Beach Daily News story published when the property was on the market.

Among its notable details is the stair hall’s “castle stone” floor imported from England. Other features included wood-plank floors, decorative ceiling treatments, fireplaces in the living and dining rooms, and an extensive loggia by the pool.

“I would describe our house as light and happy,” Karen Finnegan said. “It’s great for entertaining, and it’s very livable.”

She also noted one of the property’s most unusual features — a sausage tree that has been granted protection through the town’s program for “historic and specimen” trees.

“There are only a few on the island. It’s checked each year — and it’s healthy and happy,” she said.

The Finnegans, meanwhile, are staying in Palm Beach and have closed a deal to buy a Midtown condominium. But a deed for that transaction has not yet been recorded by the county clerk.

*

Meanwhile, across the bridge Jill Curcio has sold her ninth-floor condominium in One Watermark Place at 622 N. Flagler Drive to Beverly J. Myers for $3.3 million, according to a deed recorded late last month by the Palm Beach County Clerk’s office.

Myers, in turn, sold the Manalapan house she owned with her late husband, Herbert, at 1820 S. Ocean Blvd. for a recorded $5.76 million in an off-the-market transaction. The buyer was Robert Steinberg, who was acting as trustee of a living trust in his name, according to the deed recorded earlier this month. Built in 1969, the house has a “total” square footage of more than 7,000 square feet and stands on a lot measuring nearly 2 acres.

With 6,032 square feet of living space inside and out, Unit 902 is in One Watermark Place’s coveted “02” line. That means it offers especially dramatic views of the Intracoastal Waterway, Palm Beach and the ocean from its windows and three terraces.

Agent Samantha Curry of Fite Shavell & Associates had listed the four-bedroom apartment at just under $3.5 million. Patricia Mahaney of Sotheby’s International Realty was on the buyer’s side of the deal.

“This transaction is just more proof that the market is picking up,” says Curry.

The price paid works out to $636 per square foot, based on the “total” square footage of the apartment in county property records. That price marks the second-highest per-square-foot sale in the concierge-service building within the past two years, according to records in the Palm Beach Board of Realtors Multiple Listing Service.

The building’s highest-dollar recorded sale of the last couple of years occurred in August 2011, when No. 1103 changed hands for $737 per total square foot in a $3.5 million deal. Sotheby’s International Realty agents were on both sides — Carole Koeppel and Brett Koeppel had the listing, and Cristina Condon acted for the buyers.

Another recent high-dollar sale in the building — No. 501 with a total of 5,890 square feet — recorded at $3.4 million in April 2011. That price works out to $577 per square foot. Elaine M. Edwards of Brown Harris Stevens represented the seller, with Carole Ruhlman of Sotheby’s on the buyer’s side.

Darrell Hofheinz writes about real estate and edits Home & Loggia. He welcomes news items about Palm Beach real estate for this column. E-mail dhofheinz@pbdailynews.com or call 820-3831.

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