Iconic Belford Shoumate-Designed Boat House Hits Palm Beach Market for $24.95 Million

In Florida, Belford Shoumate was responsible for the design of hundreds of buildings, showcasing his architectural versatility and creativity. Recently, one of his iconic works, called Boat House in Palm Beach, has been listed for $24.95 million.

(Photo : Herald Leader/Sotheby's International Realty )

Listing of the Iconic Boat House

With an astonishing price tag of $24.95 million, the lovely Boat House that was constructed by the well-known Florida architect Belford Shoumate has been put up for sale in the Palm Beach real estate market. As representatives of Sotheby's International Realty - Palm Beach Brokerage, Lisa and John Cregan are reportedly in charge of the listing.

Several years ago, the property underwent a complete renovation, and the current owners have since made significant enhancements. These enhancements include all new air conditioning units, one of which is installed in the garage, a high-end water-purification system, an enlarged wine and beverage refrigerator, a smart home technology center, and an electric canopy for the dining patio, to name a few.

In addition to its exterior aesthetics, the residence boasts six bedrooms and seven restrooms, occupying nearly 4,900 square feet. A rooftop deck, a swimming pool, hardwood floors on the dock, porthole windows, and an outdoor infrared sauna are only some of the luxurious amenities that are included in this property.

Accordingly, there are around 500 buildings in South Florida that were created by Belford Shoumate, an architect who was born in Ohio in 1903. Among these buildings is the famous Boat House, which was constructed in 1940.

Belford Shoumate designed the Boat House, and Frank Lloyd Wright created Fallingwater. The Boat House stands as a masterpiece of Modernist architecture, harmoniously blending the quintessential Palm Beach lifestyle features: a meticulously renovated, ready-to-move-in residence, exclusive ocean access via the Mockingbird neighborhood beach cabana, and a prime lakefront location complete with a dock and boat-lift

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Is Buying a Home in Palm Beach Expensive?

Powerful people are continuing to leave high-tax states like New York, New Jersey, and California for lower-tax states like Florida, which is causing a housing boom. Mortgage rates are less likely to have an impact on ultra-wealthy buyers because they typically pay cash for the real estate they purchase.

As stated by Jonathan Miller, the Chief Executive Officer of Miller Samuel, because there is a shortage of inventory, particularly for highly desirable waterfront sites, prices have just experienced a new spike. The number of homes listed for sale in Palm Beach has dropped significantly from 61 in the pre-pandemic levels to just 53 in the third quarter. Over the past year, the number of sales has decreased by 31% due to the scarcity of listed properties.

Based on the information provided by Douglas Elliman and Miller Samuel, the average price at which a home in Palm Beach was sold in the third quarter was greater than twenty million dollars. This makes Palm Beach the most expensive real estate market in the country.

Residences in Palm Beach were sold at a standard price per square foot of $4,554, which is over 2.5 times the selling price of Manhattan. Nevertheless, Michael Cantanucci, a luxury car trader, established a new benchmark for the most expensive residence sold in Palm Beach by paying $170 million for a 1.6-acre seaside property in April.

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