Welcome to The Dirt! I am a real estate, weather, and animal reporterKimberly Millerwith the most recent advancements in the hot market.
The Warehouse DistrictIn West Palm Beach, it opened during those early days of 2018 when Gen Xers were hoping to recapture their grungy Nirvana and Pearl Jam era by hanging out in renovated industrial areas featuring upscale cafeteria-style food vendors and kids playing around as if it were Chuck E. Cheese for the elite. Don’t get me wrong, industrial areas make great renovations and we’re all looking forwardto Nora, but that is different because I said so.
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Anyway, the Industrial Area isgetting a refresh With a fresh design and new retail spaces opening to serve the growing prosperity in the region. The food court has been removed, at least temporarily. One significant change is the disappearance of the axe-throwing bar.Game of Axes, which is being replaced by Bindu Yoga and Wellness.
Several points to examine here. There was anaxe-throwing bar? A tavern, featuring axes and drinks? At the same time? Okaaayyyy. If you were a fan, don’t be discouraged, there are still places inBoca, Boynton and Jupiter. And does that imply West Palm Beach is a more Zen city since the axes are being swapped out for yoga mats and Lululemon-wearing soccer moms driving Range Rovers? Probably not. It’s West Palm Beach.Welcome to the wild, dear one.
In other real estate-related updates, a historic house that was moved around West Palm Beach on a cart like a melancholic, outdated overhead projector has anew residence and new home purchasers, cities are probably conducting budget reviews this month and everyone’staxable property valueshave risen, and residents of Palm Beach are carrying out their usual activities, probablydemolishing a lakeside mansionthat they acquired for $86.5 million.
The Mystery House welcomes new owners who are captivated by its historic design and compelling history.
This isn’t the famously haunted Riddle HouseIt was relocated to Yesteryear Village, but it remains a Riddle House as it once served as the residence of Karl Riddle, West Palm Beach’s first city manager. It has been moved two times since its initial construction during the land boom of the 1920s, but its present location is probably its final one.recently sold for 1.3 million dollars.
Douglas Elliman Realtors Jessica Julian and Michael Melear jointly listed the property, which was first available for sale in January 2024 at a price of $2.52 million. However, it has a minor downside in that it is located near the Florida East Coast Railway tracks. Back in the pastbefore quiet zones, that was likely a deal-breaker, but now trains glide through as silently as snow on a December morning or a deer sipping from a stream or an electric scooter zipping past you on the sidewalk.
Palm Beach lakeside property expected to be torn down following a record-breaking sale
A residence from the 1930s located in Palm Beach, which was originally designed and subsequently updated by renowned architect John L. Volksold for $86.5 million, which is a record high price for a lakeside house without an ocean view. It comes as no surprise who the new owner is and what they plan to do with the property, which is to demolish it.
Since the new owner is a secret trust with their true identity safeguarded by a group of killer bees and complex legal jargon (I didn’t intend to make that rhyme), we remain unaware and unable to inquire as to why someone would wish to demolish a Volk home. However, and this is yet another surprising turn of events, the Palm Beach Architectural Commission approved the design of a new mansion and guesthouse for the property. ARCOM is typically very picky about new construction, so this onemust be a beaut.
Taxable property values in Palm Beach County increased by almost 8%
Rain is falling in Palm Beach County with taxable propertyvalues up nearly 8%Year over year, but that’s actually the smallest increase since the pandemic caused home sales to skyrocket. In 2022, values rose by almost 15% compared to the previous year, then 13.5% and 9.65%. Here’s an interesting fact: In 2006, taxable values were 23% higher year over year. However, no one is eager to experience the terrifying real estate disaster similar to the housing crash that followed. It’s also unlikely to occur. I don’t know a single waiter or waitress who has recently obtained three jumbo-loan mortgages —a common occurrencein the olden days.
Boca Raton surpassed Palm Beach, the second-highest, with a taxable value of $40.1 billion, while Palm Beach had $34.3 billion. West Palm Beach came in third with $25.4 billion. But what’s a few billions between friends? Is it Wednesday yet? Seriously.
Live lightly.
Kimberly Milleris a reporter for The Palm Beach Post, which is part of the USA Today Network in Florida. She reports on real estate, weather, and the environment. Subscribe toThe Dirtfor a weekly real estate summary. If you have any news suggestions, please send them to[email protected]. Encourage local news coverage by subscribing now.
This piece first was published in the Palm Beach Post:A renovation is underway in West Palm Beach’s Warehouse District, with a yoga studio set to take the place of an axe-throwing bar.
