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Trump-owned house in Palm Beach available to rent for $100,000 a month

Posted On: 07-21-2018

The Palm Beach beachfront house belonging to President Donald Trump’s two eldest sons is up for rent — for $100,000 a month, according to the local multiple listing service.

Donald Trump Jr. and Eric Trump two months ago paid their aunt, federal appeals Judge Maryanne Trump Barry, $18.25 million for her eight-bedroom house at 1125 S. Ocean Blvd. The deed was recorded May 17 for the home, which stands next door to Mar-a-Lago’s Beach Club.

Offered partially furnished, the house is the third-priciest property being marketed for lease in Palm Beach, MLS shows. Its rent is just ahead of the $95,000 monthly rent being asked for a landmarked house across town, which is owned by an entity affiliated with television celebrity Dr. Mehmet Oz and his wife, Lisa.

The Trump house’s for-lease listing, which entered the MLS shortly after the sale, is held by Trump International Realty, which has offices in northern Palm Beach County and in Miami-Dade County. The brokerage — affiliated with The Trump Organization in New York — wants to rent out the house on a yearly lease, said Heidi Brzyski, Trump International Realty’s managing broker for Florida.

“It is on the market as an annual listing,” she said, “but we would entertain alternative opportunities.”

With 10,455 square feet of living space, inside and out, the two-story West Indies-style house was built in 1956 on a lot with 194 feet of beachfront.

Over the past several weeks, the house has undergone some exterior improvements — including a change in paint color from light blue to white — and its interiors are being renovated, Brzyski said. The main living areas and the master bedroom will be furnished once the updates are completed by mid-August, she added.

“It’s a fabulous location, and the renovations are going to be spectacular,” she said.

The layout includes a formal living room, a sun room, a family room and a library. On the east side of the house, a balcony overlooks the ocean, a patio area and the swimming pool. The house is described in agent Laurie Summa’s listing as “an ideal home for outdoor entertaining.”

The house occupies a half-acre lot immediately east of the coastal road. It’s catty-corner from the main grounds of Mar-a-Lago, the landmarked 1920s-era mansion that President Trump converted into private club in the mid-1990s. The rental house also stands directly across the street from a house that was owned for years by President Trump. Shortly after his inauguration, he deeded it and a house next door on Woodbridge Road to a company controlled by his eldest sons. Both of those properties lie immediately north of Mar-a-Lago.

The house being marketed for lease is in the area that is closed to through-traffic when the president visits Mar-a-Lago.

The house stands directly on the beach, unlike many other oceanview homes in the neighborhood that are separated from the ocean by the coastal road.

Real estate broker John Pinson, immediate past president of the Palm Beach Board of Realtors, said he wasn’t surprised that the house is being marketed at a premium rental price, given its updated condition and oceanfront location in the Estate Section.

“I think it’s about right for the market,” Pinson said. “It’s a unique property on a unique site, with a location near the Mar-a-Lago Club and the Bath & Tennis Club. It’s really a beautiful home.”

The last time the property was marketed for rent in MLS was in 2002 and 2003, when Sotheby’s International Realty had a listing advertising a lease price of $70,000 a month, a search Friday showed.

The Trump brothers bought the house on South Ocean Boulevard through a Delaware-based limited liability company named 1125 South Ocean LLC. Eric Trump also signed an $11.2 million, 30-year mortgage on the property as president of the company that bought the house from his aunt, one of President Trump’s two sisters. Donald Trump Jr. is listed in business records as vice president of the company.

Real estate broker Christian Angle of Christian Angle Real Estate handled both sides of the sale, according to the Palm Beach Board of Realtors Multiple Listing Service.

Barry had owned the house since 2004, when she bought it as a vacation home for a recorded $11.5 million, property records show. She is an attorney and an inactive senior circuit judge of the U.S. Court of Appeals for the Third Circuit.

Other members of the president’s family have bought property in the neighborhood, including his other sister, Elizabeth Trump Grau, who has a house on Woodbridge Road.

The two other MLS-listed houses in Palm Beach have rental prices higher than the one at 1125 S. Ocean Blvd. They include a 1920s-era oceanfront house at 100 El Bravo Way offered by agent Suzanne Frisbie of the Corcoran Group. The five-bedroom, furnished property has a seasonal monthly rental of $150,000 if a lease is signed for fewer than six months. The house already is rented through December, and the renter has the option to stay there for January and February, Frisbie’s listing says.

And a seven-bedroom, furnished house facing the lake at 15 S. Lake Trail is being marketed for seasonal rent with a $125,000 monthly price tag. It, too, is leased through the end of January 2019, and inquiries for February and beyond will be accepted starting Dec. 1, according to the listing prepared by Corcoran agents Dana Koch and Paulette Koch.

Meanwhile, the $95,000-a-month seasonal listing for Dr. Oz’s 12-bedroom house at 473 N. County Road is being handled by agent Shirley Wyner of The Fite Group. The house is furnished.

The only other property in MLS with a for-rental price approaching the Trump-affiliated house is 326 Via Linda, a North End lakefront house marketed at $90,000 a month for “short-term lease only” by Frisbie. Many of the prime winter months are not available for that six-bedroom, furnished house, the listing shows.

More than 165 other Palm Beach for-lease houses and apartments are in MLS ranging at prices ranging from $60,000 per month down to $1,300 per month, with varied rental periods required.




Source: Darrell Hofheinz, July 21, 2018, Palm Beach Daily News

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