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New one-story on Palm Beach’s North End brings $6 million

Posted On: 03-31-2017

The North End has seen plenty of houses developed on speculation and sold in the years since end of the Great Recession.

And most of those have been two-story residences, which typically allow developers to build the most square-footage based on the lot size, according to town codes.

But, occasionally, a new one-story spec house rises on a sizable lot, as was the case last week with 257 Sandpiper Drive, a Bermuda-style house that sold for a recorded $6 million.

The buyer was The Palm Beach Family Trust 2017, a Canadian entity for which Gail Sise Drummond serves as trustee. She is married to Bob Dorrance , chairman, CEO and president of TD Securities and group head of wholesale banking for TD Bank Group . The couple is noted for supporting a variety of Canadian arts groups.

The deed recorded March 22 lists the trust’s address as in care of Dorrance’s office at TD Securities’ worldwide headquarters in Toronto. Dorrance and Drummond declined to comment on the purchase.

Broker Christian J. Angle of Christian Angle Real Estate, who represented the buyer’s side of the sale, is also keeping mum.

Four streets north of the Palm Beach Country Club, the four-bedroom house stands on a midblock lot of nearly one-third acre. With 5,080-square feet of living space, inside and out, it was developed and sold by Gary Purucker and Patrick Marrano of Purucker & Marrano Custom Homes in Palm Beach Gardens.

Corcoran Group agents Craig and Heather Bretzlaff, Purucker’s daughter, had the property priced at $6.7 million. She declined to discuss specifics of the deal or the buyers.

But she did say the house’s single-level floor plan was a key marketing point, especially attractive to house-hunters who don’t necessarily want to climb stairs or take an elevator, now or in the future.

“This was the newest one-story on the North End,” she said about the house, which entered the market about a year ago, several months before it was completed.

The challenge for the developers was “finding a lot with enough square footage and then coming up with a design that fit,” she added.

With its rear service drive, the property had a number of other selling points, including an open floor plan and “transitional”-style décor featuring materials and finishes that included limestone and bleached-oak floors, she said.

Architect Roger Janssen of Dailey Janssen Architects designed the house, which also features a summer kitchen, a rear-entry garage and a well-equipped kitchen among its amenities. McCann Design Group , the firm headed by Palm Beacher Sara McCann , handled the interiors.

The developers, meanwhile, have another spec project that just entered the market — a five-bedroom, 6,450-square-foot house at 110 Indian Road near the inlet at the northern tip of the island. Priced at $7.495 million, the West Indies-influence house was designed by Michael Perry’s MP Design & Architecture.

 

 

Source: Darrell Hofheinz, March 31, 2017, Palm Beach Daily News

 

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