1221 N Lake Way Palm Beach, FL 33480
North End Neighborhood
5
Beds
5
Baths
3,090
Sq Ft
0.34
Acres
Highlights
- Property has ocean access
- Dock has access to electricity
- Outdoor Pool
- Palm Beach Public School Rated A-
- Home fronts a seawall
- Contemporary Architecture
About This Home
As of May 20251221 North Lake Way was built in 1940 and designed by Belford Shoumate who was the most popular architect of Modernism on the island of Palm Beach.
Designed as a 6,000 SF ‘Nautical Mansion’ the ‘Fore and Aft House’ was featured in the 1939 World’s Fair as one of the Houses of Tomorrow. That fair had a lasting influence on American Architecture. Following Art Deco, the International Style of Architecture grew out of a fascination with industrial design and speed, particularly, automobiles, trains, boats and planes.
The southern elevation of the 1221 has concrete porthole columns that repeat along the windowed curtain wall and the upper decks feature steamship railings. The extreme right of the house (eastern elevation) has a 2-car Y shaped garage with 2 exits. The Extreme left side (west) features the musical-key note pool overlooking the Intracoastal view, thus The Fore and Aft house.
The house sits on 65 feet of Intracoastal frontage offering stunning views and amazing sunsets as well as a deep-water dock. The nautical-like design has the effect of a boat, sitting on the lot overlooking the Intracoastal. Equally important, 1221 is the only Lakefront house in Palm Beach with its own deeded Oceanfront cabana down the block.
Most original details remain, including some custom furnishings. 'Fore and Aft' was designed with 5 bedrooms with exterior doors to enter and exit the exterior decks, not unlike steamships of the day. Many of the original bathroom details remain and missing elements could be found or restored.
Last Agent to Sell the Property
BURTON MINKOFF
The Corcoran Group Listed on: 02/16/2016
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $71,528
Year Built
- Built in 1940
Lot Details
- 0.34 Acre Lot
- Home fronts a seawall
- Property fronts an intracoastal waterway
- West Facing Home
Parking
- 2 Car Attached Garage
Home Design
- Contemporary Architecture
- Tar and Gravel Roof
- Concrete Block And Stucco Construction
Interior Spaces
- 3,090 Sq Ft Home
- Fireplace
- Double Hung Windows
- Sliding Windows
- Casement Windows
- Dining Room
- Home Security System
Kitchen
- Eat-In Kitchen
- Gas Range
- Dishwasher
- Disposal
Flooring
- Wood
- Terrazzo
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Bathrooms
Laundry
- Dryer
- Washer
Outdoor Features
- Outdoor Pool
- Property has ocean access
- Bulkhead
- Dock has access to electricity
Utilities
- Forced Air Zoned Heating and Cooling System
Community Details
- No Home Owners Association
- Mockingbird Trl Subdivision
Listing and Financial Details
- Assessor Parcel Number 50434303090000011
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 17, 2024
Closed on
May 19, 2025
Sold by
1221 Nlw Llc
Bought by
Sunflower Trust and Mccourt
Seller's Agent
John Cregan
Sotheby's International Realty, Inc.
Buyer's Agent
John Cregan
Sotheby's International Realty, Inc.
List Price
$24,950,000
Sold Price
$19,200,000
Premium/Discount to List
-$5,750,000
-23.05%
Views
161
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$7,673,241
Avg. Annual Appreciation
-84.89%
Original Mortgage
$11,520,000
Outstanding Balance
$11,494,724
Interest Rate
5.5%
Mortgage Type
New Conventional
Estimated Equity
$32,035
Purchase Details
Listed on
Nov 9, 2020
Closed on
Apr 13, 2021
Sold by
Glaser Todd and Glaser Kim Aimee
Bought by
1221 Nlw Llc
Seller's Agent
Suzanne Frisbie
The Corcoran Group
Buyer's Agent
Whitney McGurk
Brown Harris Stevens of PB
List Price
$13,900,000
Sold Price
$14,300,000
Premium/Discount to List
$400,000
2.88%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.47%
Original Mortgage
$9,295,000
Interest Rate
2.62%
Mortgage Type
New Conventional
Purchase Details
Listed on
Feb 16, 2016
Closed on
Aug 7, 2017
Sold by
Doane Rebecca G and Estate Of Marion Boulton Strou
Bought by
Glasser Todd
Seller's Agent
BURTON MINKOFF
The Corcoran Group
Buyer's Agent
Whitney McGurk
Brown Harris Stevens of Palm Beach 5225
List Price
$5,900,000
Sold Price
$5,900,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
27.03%
Original Mortgage
$3,835,000
Interest Rate
3.75%
Mortgage Type
Adjustable Rate Mortgage/ARM
Purchase Details
Closed on
Jul 24, 2001
Sold by
George K Kooluris I
Bought by
Swingle Marion B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,200,000
Interest Rate
7.16%
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $19,200,000 | None Listed On Document | |
| Warranty Deed | $19,200,000 | None Listed On Document | |
| Warranty Deed | $14,300,000 | Attorney | |
| Personal Reps Deed | $5,900,000 | Attorney | |
| Warranty Deed | $6,500,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $11,520,000 | New Conventional | |
| Closed | $11,520,000 | New Conventional | |
| Previous Owner | $6,600,000 | New Conventional | |
| Previous Owner | $9,295,000 | New Conventional | |
| Previous Owner | $5,400,000 | New Conventional | |
| Previous Owner | $3,835,000 | Adjustable Rate Mortgage/ARM | |
| Previous Owner | $5,200,000 | No Value Available | |
| Previous Owner | $50,000 | Credit Line Revolving |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/22/2025 05/22/25 | Sold | $19,200,000 | -18.3% | $3,960 / Sq Ft |
| 04/18/2025 04/18/25 | Pending | -- | -- | -- |
| 01/30/2025 01/30/25 | Price Changed | $23,500,000 | -5.8% | $4,847 / Sq Ft |
| 06/17/2024 06/17/24 | For Sale | $24,950,000 | +74.5% | $5,146 / Sq Ft |
| 04/19/2021 04/19/21 | Sold | $14,300,000 | +2.9% | $2,950 / Sq Ft |
| 03/20/2021 03/20/21 | Pending | -- | -- | -- |
| 11/09/2020 11/09/20 | For Sale | $13,900,000 | +135.6% | $2,867 / Sq Ft |
| 08/08/2017 08/08/17 | Sold | $5,900,000 | 0.0% | $1,909 / Sq Ft |
| 06/06/2017 06/06/17 | Pending | -- | -- | -- |
| 02/16/2016 02/16/16 | For Sale | $5,900,000 | -- | $1,909 / Sq Ft |
Source: Palm Beach Board of REALTORS®
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $180,952 | $12,088,430 | -- | -- |
| 2023 | $216,985 | $14,147,526 | $0 | $0 |
| 2022 | $200,380 | $12,861,387 | $0 | $0 |
| 2021 | $88,187 | $5,790,257 | $5,625,360 | $164,897 |
| 2020 | $76,851 | $4,588,777 | $4,573,110 | $15,667 |
| 2019 | $103,511 | $6,075,987 | $6,060,000 | $15,987 |
| 2018 | $94,195 | $5,707,846 | $5,700,516 | $7,330 |
| 2017 | $92,529 | $6,007,989 | $6,000,543 | $7,446 |
| 2016 | $92,250 | $4,662,404 | $0 | $0 |
| 2015 | $76,104 | $4,238,549 | $0 | $0 |
| 2014 | $71,528 | $3,857,808 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
John Cregan
Seller's Agent in 2025
John Cregan
Sotheby's International Realty, Inc.
(847) 651-7210
6 in this area
58 Total Sales
-
Lisa Cregan
L
Seller Co-Listing Agent in 2025
Lisa Cregan
Sotheby's International Realty, Inc.
(561) 659-3555
12 in this area
58 Total Sales
-
Suzanne Frisbie
S
Seller's Agent in 2021
Suzanne Frisbie
The Corcoran Group
(215) 353-8636
34 in this area
106 Total Sales
-
Whitney McGurk
W
Buyer's Agent in 2021
Whitney McGurk
Brown Harris Stevens of PB
(561) 659-6400
15 in this area
62 Total Sales
-
Liza Pulitzer
L
Buyer Co-Listing Agent in 2021
Liza Pulitzer
Brown Harris Stevens of PB
(561) 659-6400
16 in this area
57 Total Sales
-
B
Seller's Agent in 2017
BURTON MINKOFF
The Corcoran Group
Map
Source: Palm Beach Board of REALTORS®
MLS Number: 16-413
APN: 50-43-43-03-09-000-0011
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