NOT LISTED FOR SALE

1585 N Lake Way Palm Beach, FL 33480

North End Neighborhood

Estimated Value: $6,867,000 - $16,977,108

2 Beds
2 Baths
2,027 Sq Ft
$5,372/Sq Ft Est. Value

Last Sold July 25, 2018

Last sale price $2,700,000 $1,332 Per Sq Ft

Est. 303% increase in value since last sale

Current estimated payment $66,320/month

71 Days on Market

Highlights

  • Outdoor Pool
  • Waterfront
  • No HOA
  • Palm Beach Public School Rated A-
  • Lanai
  • Attached Garage

About This Home

As of July 2018

Charming 2/2.5 pool home on the north end on a rare oversized lot (approx. 13,000 sf). Close to Palm Beach’s deepest beach, and across from direct intracoastal estates, you can also custom design and build your dream house! Call for a survey.

Last Agent to Sell the Property

Paulette Koch

The Corcoran Group License #3068398 Listed on: 03/01/2018

The Corcoran Group

Co-Listed By

Dana Koch

The Corcoran Group License #3027862

Last Buyer's Agent

SUZANNE FRISBIE

MCCANN COYNER CLARKE

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $9,040

Year Built

  • Built in 1955

Lot Details

  • 0.3 Acre Lot
  • Waterfront
  • West Facing Home
  • Property is zoned R-B - Low Density Residential, R-B - Low Density

Parking

  • Attached Garage

Home Design

  • Tile Roof
  • Fiber Cement Roof
  • Concrete Block And Stucco Construction

Interior Spaces

  • 2,027 Sq Ft Home
  • 1-Story Property
  • Double Hung Windows

Kitchen

  • Single Oven
  • Gas Range
  • Microwave
  • Dishwasher

Flooring

  • Wall to Wall Carpet
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Outdoor Pool
  • Patio
  • Lanai

Community Details

  • No Home Owners Association
  • Boca Ratone Subdivision

Listing and Financial Details

  • Homestead Exemption
  • Assessor Parcel Number 50434234020000551

Home Details

Home Type

Single Family

Est. Annual Taxes

$9,040

Year Built

Built in 1955

Lot Details

0

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 0.3
  • Lot Size: 130
  • Subdivision Name: Boca Ratone
  • Directions: All sizes and dimensions approximate.
  • Architectural Style: One Story
  • Garage Yn: Yes
  • Year Built: 1955
  • Location Tax Legal:Zoned: R-B - Low Density Residential
  • Location Tax Legal:Homestead Exempt: Yes
  • Location Tax Legal:Taxes2: 9040.0
  • Location Tax Legal:Tax Year2: 2017
  • General Property Description:Living Area: 2027.0
  • General Property Description:Pool: Yes
  • General Property Description:Waterfront: No
  • Pool:Pool3: Yes
  • Floors:Tile: Yes
  • Appliances Refrigerators: Yes
  • Appliances Microwave: Yes
  • Washers: Yes
  • Appliances Dryer: Yes
  • General Property Description:Lot Dim (1): 130
  • Floors:WW Carpeting: Yes
  • Roof:Cement Tile: Yes
  • General Property Description:Lot SqFt: 13068
  • HOA:None: Yes
  • Style:One Story: Yes
  • Exposure:West: Yes
  • Windows:Double Hung: Yes
  • Special Features: None

Interior Features

  • Appliances: Dishwasher, Refrigerator, Range-Gas, Oven-Single, Microwave, Washer, Dryer
  • Half Bathrooms: 1
  • Total Bedrooms: 2
  • Flooring: Tile, W/W Carpeting
  • Living Area: 2027.0
  • Window Features: Double Hung
  • Appliances Dishwasher: Yes
  • Appliances:Oven-Single: Yes
  • Appliances:Range-Gas: Yes

Exterior Features

  • Lot Features: 1/4 A - 21,779 SF
  • Pool Features: Pool
  • Pool Private: Yes
  • Waterfront Features: No - Waterfront
  • Waterfront: Yes
  • Construction Type: Cement Block/Stucco
  • Exterior Features: Patio/Lanai
  • Roof: Cement Tile
  • Construction:Cement BlockStucco: Yes
  • Exterior Features:PatioLanai: Yes

Garage/Parking

  • Parking Features: Attached
  • Garage: Yes

Lot Info

  • Land Lease Amount Frequency: No
  • Lot Size Sq Ft: 13068.0
  • Parcel #: 50434234020000551
  • Zoning: R-B - Low Density
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 9040.0
  • Tax Year: 2017

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 17, 2020
Sold by
1585 North Lake Llc
Bought by
Smith Thomas Sidney and Fitzgibbons Caroline
Current Estimated Value
$10,888,036

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,655,000
Outstanding Balance
$5,089,218
Interest Rate
2.8%
Estimated Equity
$6,165,353

Purchase Details

Listed on
Mar 1, 2018
Closed on
Jul 25, 2018
Sold by
Gerstein Joann
Bought by
1585 North Lake Llc
Seller's Agent
Paulette Koch
The Corcoran Group
Buyer's Agent
SUZANNE FRISBIE
MCCANN COYNER CLARKE
List Price
$2,700,000
Sold Price
$2,700,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
22.03%

Purchase Details

Closed on
Feb 21, 2018
Sold by
Gerstein Joann
Bought by
Gerstein Joann

Purchase Details

Closed on
Dec 11, 2017
Sold by
Gerstein Joann
Bought by
Gerstein Joann

Purchase Details

Closed on
Feb 5, 1997
Sold by
Gerstein Joann
Bought by
Gerstein Joann

Purchase Details

Closed on
Sep 13, 1996
Sold by
Gerstein Emanuel and Gerstein Joann Gerstein
Bought by
Gerstein Joann

Purchase Details

Closed on
May 6, 1996
Sold by
Gerstein Joann
Bought by
Gerstein Joann

Purchase Details

Closed on
Jun 23, 1993
Sold by
Gerstein Emanuel and Gerstein Joann
Bought by
Gerstein Joann
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Smith Thomas Sidney $7,650,000 Attorney
1585 North Lake Llc $2,509,775 Trident Title
Gerstein Joann -- Attorney
Gerstein Joann -- Attorney
Gerstein Joann $100 --
Gerstein Joann $100 --
Gerstein Joann $100 --
Gerstein Joann -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Smith Thomas Sidney $5,655,000
Previous Owner Gerstein Joann M $250,000
Previous Owner Gerstein Joann $100,000
Previous Owner Gerstein Joann $220,000
Previous Owner Gerstein Joann $100,000
Previous Owner Gerstein Joann $148,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/25/2018 07/25/18 Sold $2,700,000 0.0% $1,332 / Sq Ft
05/11/2018 05/11/18 Pending -- -- --
03/01/2018 03/01/18 For Sale $2,700,000 -- $1,332 / Sq Ft
Source: Palm Beach Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $105,854 $7,094,454 -- --
2023 $103,683 $6,887,819 $0 $0
2022 $103,871 $6,687,203 $0 $0
2021 $105,632 $6,492,430 $2,823,348 $3,669,082
2020 $39,688 $2,361,170 $2,361,170 $0
2019 $36,899 $2,146,518 $2,146,518 $0
2018 $9,063 $539,348 $0 $0
2017 $9,041 $528,255 $0 $0
2016 $8,386 $517,390 $0 $0
2015 $8,667 $513,793 $0 $0
2014 $8,707 $509,715 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2018

    Paulette Koch

    The Corcoran Group

    (561) 227-4416

    52 in this area

    142 Total Sales

    Paulette Koch
    Section Image
  • Dana Koch

    Seller Co-Listing Agent in 2018

    Dana Koch

    The Corcoran Group

    (561) 379-7718

    68 in this area

    223 Total Sales

    Dana Koch
    Section Image

  • S

    Buyer's Agent in 2018

    SUZANNE FRISBIE

    MCCANN COYNER CLARKE

  • p

    Buyer's Agent in 2018

    pbb.rets.frisst

    pbb.rets.RETS_OFFICE

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Map

Source: Palm Beach Board of REALTORS®

MLS Number: 18-547

APN: 50-43-42-34-02-000-0551

Florida Palm Beach County Palm Beach 33480 North End

1585 N Lake Way, Palm Beach, FL

This home is located at 1585 N Lake Way, Palm Beach, FL 33480 since 01 March 2018 and is currently estimated at $10,888,036, approximately $5,371 per square foot. This property was built in 1955. 1585 N Lake Way is a home located in Palm Beach County with nearby schools including Palm Beach Public School, Conniston Middle School, and Palm Beach Lakes Community High School.

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