LOST TREE VILLAGE: NEW LISTING NEAR $20 MILLION
January 15, 2017 | Richard Sites
Lost Tree Village is perhaps one of the most secluded and exclusive communities in the North Palm Beach area. Situated between North Palm Beach and Singer Island, and adjacent to MacArthur Beach State Park, Lost Tree Village is home to big money and old money.
A new oceanfront listing hit the market today priced just under $20 million or about $1,800 per square foot.
PGA Boulevard, also known as Jack Nicklaus Boulevard in the area around Lost Tree Village, slices the community into two parts.
The south side, where Jack lives, faces a quiet body of water and the marina at Old Port Cove. Tiger Woods used to keep his yacht “Privacy” in the marina.
In addition to Jack Nicklaus, other notables like Greg Norman, Ken Langone and Jack Welch have all called Lost Tree Village home.
The north side has the main clubhouse and golf course as well as a beach club (below) and oceanfront homes.
The new listing on the ocean appeared in the MLS this morning. And although this shows as a new listing, it has been on the market for nearly 1,000 days but the listing agent changed offices and took the listing with him.
Homes in this price range can take a long time to sell. There is another one in Ranch Estates, a section of Ranch Colony, in this same range that has been on the market for 2 years.
Even homes in the $8 million to $10 million range can sit for extended periods.
The massive 1.3 acre lot right on the ocean is the main attraction of this parcel. Even though the price is about $1,800 per square foot for nearly 11,000 feet of living space, it is the location that is driving up the price.
The home has 6 bedrooms and 7 full baths and 3 half baths with a 4 car garage.
In this price range, money for remodeling, or even demolition and new construction, is not the issue. As the saying goes, it is location, location, location.
Just a little north in Seminole Landing, ex-Mrs. Tiger Woods Elin Nordegren bought an oceanfront homes for $12 million and demolished it. Her boyfriend bought the lot next to her, demolished and built a new home then bought the house across the street and demolished it to make sure they would not have to look at any unsightly neighbors.
Money alone will not get you into Lost Tree Village like it will at other clubs like Admirals Cove. You must be sponsored by current members and be approved for membership.
If you are looking at luxury club homes in this area, I have lived here 25 years and been in all of them. I would be pleased to help you find the one that meets your needs. Contact me directly at 561.762.4073.