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New Seabreeze Avenue home sells for $5.1 million

Posted On: 09-13-2010

By Darrell Hofheinz  

Posted: 5:12 p.m. Saturday, Sept. 11, 2010

The builder of a new “spec” home at 218 Seabreeze Ave. has sold it for $5.1 million to a buyer listed in Palm Beach County property records as “Guitiriz S.A., a Uruguay corporation.”

Completed in April by Leeds Custom Design, the West Indies-style house was sold by builder George L. Ford through an entity named 218 Sea Breeze LLC, according to a warranty deed filed last month. Ford is president of Leeds Custom Design and has developed two other spec homes on the island, one of which remains for sale.

The four-bedroom house with five bathrooms and a powder room has 4,850 square feet of interior living space. The home sold for about $1,052 per square foot, said Realtor Scott M. Gordon of Fite Shavell & Associates in Palm Beach, who represented the seller in the transaction.

“That’s great,” said Gordon. “These days, anything over $1,000 a square foot is good. Even in the good times, that was good.”

Although the house had been listed for sale at $5.995 million, Ford said he was happy with the home’s rapid sale and its final negotiated price, especially in today’s difficult economy. “It really shows the strength of the island,” Ford said.

Realtor W. Peter Mahler of Wilshire Realty Co. in Palm Beach was the buyer’s representative. Neither he nor Gordon would provide the full name of the buyers.

The house stands on one of Palm Beach’s oldest roads. The lot measures 100 feet by a little more than 122 square feet.

The layout features a kitchen with an adjacent family room along with formal living and dining rooms, each with a fireplace. Exterior features include a pool, whirlpool spa and built-in barbecue grill.

Before Ford began developing spec homes a few years ago, West Palm Beach-based Leeds Custom Design was known for its high-end cabinetry and specialty-painting techniques for Palm Beach clients that include Sydell Miller, Jim Clark and Henry Kravis. Ford’s company is still involved in that type of work.


Source: Darrell Hofheinz, September 11 2010, Palm Beach Daily News




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