A $2.65 million sale last month in Palm Beach Gardens' BallenIsles community marks the highest purchase price in the affluent development since real estate's downturn.
The more than 13,237-square-foot home at 28 St. Thomas Drive was sold under a confidentiality agreement to a limited liability corporation named Genese on Aug. 18. The home also was the previous high sale in BallenIsles when it was bought in 2007 for $2.8 million.
Fite Shavell & Associates agent Carla Christenson said the sellers spent more than $1.5 million remodeling the six-bedroom, seven-bathroom home and have had it listed with her since October.
The original list price was $3.2 million for the home, which sits on two-thrids of an acre along one of three golf courses at BallenIsles.
"It's one of the largest, if not the largest, homes in BallenIsles," said Christenson, who noted that tennis greats Serena and Venus Williams, who already have property in the development, looked at buying the St. Thomas home before deciding to remodel their own.
Christenson listed the home in conjunction with Samantha Curry and Scott Gordon.
The seller's agent, Dan Dresbach, is also a Fite Shavell & Associates Realtor.
Amenities of the Mediterranean-style home, which was built in 1996, include an elevator, two-bedroom guest house, media room, heated pool and three-car garage.
Multimillion-dollar sales are not unusual in Palm Beach County - a $6.8 million purchase was made Aug. 23 of a Palm Beach home on Jungle Road.
But David Fite, of Fite Shavell & Associates, said buyers who traditionally stuck to high-priced Palm Beach are increasingly willing to consider homes off the island.
The BallenIsles buyers originally had been looking to purchase something on Palm Beach.
"There are a lot of beautiful luxury homes in northern Palm Beach County that we are finding buyers excited about," said Fite, who is opening a new office in North Palm Beach in October. "This shows that luxury homes in Palm Beach Gardens are starting to move."