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Lessons to be gleaned from $7.5 million sale

Posted On: 07-09-2015

By Darrell Hofheinz Daily News Staff Writer

Listed for sale in mid-February, under contract six weeks later and closed by the end of June: That’s the time it took for a five-bedroom, 15-year-old house at 200 Emerald Lane to change hands in a $7.5 million deal. The sale offers a couple of lessons for those navigating the surprisingly busy summer market in Palm Beach.

The house’s revved-up entrance and exit from the marketplace is no longer an anomaly for better-quality properties on the island. Which leads us to lesson No. 1, for buyers: Make an offer quickly when you see something you like. Otherwise, it may be gone by sunset.

In this case, the sales listing described the finely detailed house as “truly turnkey” in “a sought-after location close to town.” With 6,758 total square feet, the British Colonial-style house stands on a short street about a half-mile north of Royal Poinciana Way.

The property arrived on the market priced at just $350,000 more than its eventual sales price. That’s Lesson No. 2, for sellers: Properties that are priced right, based on their individual attributes, move.

Retired human-resources exec Sandra G. Krakoff sold the house she built with her late husband, Robert L. Krakoff. A Florida land trust was the buyer, according to the deed recorded July 1. The Corcoran Group handled both sides of the sale, with listing agents Paulette Koch and Dana Koch acting opposite agent Suzanne Frisbie.

With ties to Boston, Krakoff and her husband had commissioned Jupiter architect Tom Kirchhoff to design the house.

Sandra Krakoff spent 25 years involved in education and the legal-placement industry. Her husband, who died in 2007, was chairman and CEO of Nielsen Business Media, the New York ratings-measurement powerhouse.

The deed listed Lorraine Slavin, an attorney in Greenwich, Conn., as trustee of the buyer, FloridaLand Trust No. 05152015. No other information about the trust was available.


Source: Darrell Hofheinz, July 9, 2015, Palm Beach Daily News

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