Palm Beach Island: Loving It and Leaving It.
124 Parc Monceau, Palm Beach, FL 33480 | Presented by Samantha Curry Director of Luxury Sales
For Sale: 124 Parc Monceau, Palm Beach, FL 33480
Paul Gravette and his wife LeighAnn have owned many properties over the years, but one home in particular they thought they’d never decide to sell. It’s in an area they’ve loved visiting during the last 20 years, staying there and making so many wonderful friends along the way. The home in reference is on what’s called Billionaire’s Row in Palm Beach Island, Florida.
The Gravettes never thought they’d be able to find a home there that was available for purchase, but one day they received a call out of the blue that this property was coming up for sale. They knew how tough it is to find a home on Billionaire’s row, but when they toured this historic property, they immediately saw its potential.
It was built in 1962 by the late developer Clarence Mack. Mack’s houses typically have symmetrical layouts, flat roofs, and classical architectural details, including triangular pediments and urns at the roofline. The house stands on a quarter-acre lot with a dock and 75 feet of frontage on the Intracoastal Waterway at the west end of Parc Monceau. It boasts 6 bedrooms, 9 baths, and an interior of 5,454 sq. ft. Amenities include a pool, wet bar, dining area, formal dining room, entrance foyer, fireplace, plus high and vaulted ceilings.
The Gravettes decided that call they received was fate and thought it would be great to buy 124 Parc Monceau as a Winter Home. But now they’re selling the house and leaving for Highlands, North Carolina.
Paul and LeighAnn had different reasons for wanting to live in Palm Beach, aside from its beauty. For Paul, there’s the Palm Beach Par 3 Golf Course, just south of Phipps Ocean Park. Golf Digest included it in its top-50 “most fun” courses in America. It’s one of the most scenic public golf courses in Florida. The 18-hole course is on some of the most valuable land in Florida and extends from a fabulous ocean beach on one side to the Intracoastal. Nearly every hole on the breezy course has a view, and its summer rates are a bargain.
LeighAnn had different priorities. She loves the historical significance of the area. The driving force behind Palm Beach was Henry Flagler (1830-1913), a Standard Oil tycoon. He made his first visit to Palm Beach in 1893 and described the area as a paradise. That same year, Flagler hired George W. Potter to plot 48 blocks for West Palm Beach, a city to house workers at his hotels, and construction began on the Royal Poinciana Hotel. The Royal Poinciana Hotel opened for business on February 11, 1894. Flagler opened a second hotel in 1896 originally known as Wayside Inn, before being renamed Palm Beach Inn, and later becoming The Breakers.
“Besides the historical significance of the area, we love how we have ready access to our favorite shops and restaurants in West Palm Beach, plus access to the residents-only beach.”
LeighAnn is right about the area having historical significance. The Flagler Museum, or Whitehall, as it is called, is a top tourist attraction. It’s a 75-room mansion built by Flagler. Former President John F. Kennedy also at one time had a Palm Beach Island home, and the area’s most famous resident, former President Donald Trump, lives in Palm Beach at Mar-a-Lago.
So, why are the Gravettes selling?
They decided to move to the Highlands in North Carolina because they wanted to be closer to their boys, who will be attending a private school in a nearby town. The opportunity to provide the best education possible for their children at a highly rated school in an area that is picturesque couldn’t be passed up. There are many outdoor activities in the surrounding Nantahala National Forest that are perfect for a family to enjoy. And, of course, there are the exquisite restaurants, fabulous shopping, and a wonderful cultural arts scene. The downtown section of the Highlands boasts art galleries, antique stores, and boutiques. LeighAnn’s idea of Heaven!
Want to live on Billionaire’s Row?
As mentioned, it’s tough to find a home for sale in the area, but now 124 Parc Monceau is up for sale for $15,250,000 USD. Although the Gravettes didn’t buy the Palm Beach Island home as an investment property, homes in the area are by definition investments that appreciate quickly in value. This and other properties are offered by the Gravette’s real estate venture, Residential Tech. Residential Tech offers a showcase of luxury properties worldwide, as well as residential developments throughout the Southeastern United States. These are fabulous properties that double as smart investments, each of which spotlights only the best in lifestyle living.
To find more details about this Palm Beach Island property, click here.