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North Lake Way house fetches $6.8M

Posted On: 05-25-2014

By Darrell Hofheinz Daily News Real Estate Writer

When it comes to prices asked and prices fetched, what a difference a couple of years has made in post-recession Palm Beach.

Case in point: Ann C. Thompson and new husband Christopher Cahill last week parted with a four-bedroom house and one-bedroom guesthouse she bought for about $4 million two years ago on a double lot at 735 N. Lake Way. After homesteading and freshening up the house, she sold it for $6.8 million, joined by her husband on the deed that recorded Wednesday.

The multiple listing service shows the half-acre property went under contract in early March within a couple of weeks of its listing. Investment banker Jeffrey Salzman of Riverside, Conn., whose wife is artist AmmandaSalzman, bought the house under his name, according to the deed. Agent Liza Pulitzer of Brown Harris Stevens represented them but declined comment.

Agent Allison Wren of the Corcoran Group — who acted on Thompson’s behalf when she bought the house and did so again for its sale — is also keeping mum. She had listed the property at just under $7 million. Two years ago, it had been priced at just under $5 million by Corcoran agents Rosalind Clarke and Burt Minkoff.

The British Colonial-style house was built in 1991. The late Axel Zdarsky, who owned the property before Thompson, had combined two lots and replaced a 1951 house on the east side with a pool, elaborate gardens and the two-room cabana-and-guesthouse in 2009.

In all, the living space, inside and out, totals nearly 9,500 square feet, according to property records.

On the corner of Ridgeview Drive — a couple of blocks south of the Palm Beach Country Club — the property lacks lakefront. But it does have plenty of amenities, including an outdoor living room with a summer kitchen, two whirlpool spas, a full-house generator and impact-resistant windows and doors.


Source: Darrell Hofheinz, May 25, 2014, Palm Beach Daily News



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