In the wake of the 2024 presidential election, the Palm Beach “Trump bump” is real, according to brokers.
Take this West Palm Beach waterfront penthouse at Forté on Flagler, which just sold for its full $33.5 million ask. The all-cash, off-market deal at 1309 S Flagler Drive closed within six weeks, brokers said.
The 8,900-square-foot aerie — from Two Roads Development — comes with 2,000 square feet of outdoor space. It was sold as a “gray box,” to be fully customizable by the new buyer whose name has not been revealed. The building is slated to open next year.
“We are seeing renewed attention in Palm Beach, which is undoubtedly tied to Donald Trump, whose election victory has brought even more energy to the market, along with greater certainty around long-term capital gains and a sense of stability,” said Douglas Elliman’s John Reynolds, director of sales at Forté on Flagler.
President-elect Donald Trump. AP
1309 S Flagler Drive rising above West Palm Beach, Florida. Two Roads Development
The 8,900-square-foot penthouse comes with 2,000 square feet of outdoor space. Two Roads Development
In November, Palm Beach County home sales over $10 million soared — from four homes a year ago in November 2023, totaling $74.9 million, to 11 homes this past month, totaling $299.8 million. That’s a 176% increase, according to Douglas Elliman. Condo sales over $5 million also soared during the same period from one sale in November 2023, totaling $11.3 million, to three sales, totaling $33.3 million, in 2024, according to the report.
The full-level penthouse is on the building’s 24th floor and opens from a private elevator landing. The higher-level penthouse is still on the market, asking $47.5 million with Christian Angle of Christian Angle Real Estate.
Building amenities include a second-story pool deck overlooking Palm Beach, a heated spa, and an outdoor dining and lounge area. There’s also a gym, a yoga room, a steam room, a sauna and private treatment rooms — along with private dining, a great room, a screening room, an evening lounge, a card room and a multi-sport simulator.
The architect is Bernardo Fort-Brescia of Arquitectonica, with interiors by Jean-Louis Deniot.
Douglas Elliman’s Kristen Menezes brought the buyer.
