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A three-bedroom condominium at 2 N. Breakers Row Palm beach has changed hands for a record $12.5 million. That’s $1.25 million less than what the oceanfront condo sold for in 2021 during the height of the pandemic-related real estate boom.
There may be other factors influencing the reduction in retail prices than the cooling of the boom. The seller of No. N-42 has separated from her husband since the couple paid a record $13.75 million for the apartment and poolside cabana in August 2021.
At the time, the 2021 purchase ranked as the fourth most expensive oceanfront condo sale ever sold in the city, real estate records showed.
The terrace of Condominium No. N-42 at 2 N. Breakers Row faces the Atlantic Ocean. The condo just sold with a pool cabana for a record $12.5 million.
The pool cabana was included in the most recent sale, which was recorded Nov. 18 by the Palm Beach County Clerk’s Office.
Lucy Elizabeth Donahue of Laguna Beach, California, sold the apartment, the deed shows. In December 2023, her then-husband, Robert J. Donahue Jr. of McLean, Virginia, transferred ownership of the apartment to her solely “pursuant to a dissolution of marriage,” according to a deed filed at the time.
The buyer in the last sale was a Montana registered limited liability company called Ross Peak Capital LLC, with a Bozeman address tied to William J. Lansing. There is a man with that name CEO of the software company Fair Isaac Corp, better known as FICOwhich among its products and services assigns and monitors credit scores that help assess the creditworthiness of consumers.
The Breakers Row apartment measures 3,487 square feet, while the cabana, No. C-27, adds another 159 square feet. Together they traded for $3,884 per square foot.
The living room of Unit N42 at 2 N. Breakers Row in Palm Beach offers expansive views of the Atlantic Ocean. The three-bedroom apartment just changed hands to a cabana for a record $12.5 million.
Agent Suzanne Frisbie of the Corcoran Group handled the buyer’s side of the sale, according to the multiple listing service.
Agent Kevin Condon of Sotheby’s International Realty, who represented Lucy Donahue, had put the apartment on the market about a year ago for $14.85 million. The price has never wavered, according to the MLS.
Condon and Frisbie could not be reached for comment.
In the 2021 sale, Sotheby’s agent Greg Forest negotiated for the buyers opposite Condon and his mother, Sotheby’s agent Cristina Condon, who represented seller Ira Leventhal as trustee of three descendants.
On the fourth floor, the apartment faces directly the ocean, located in the northeast corner of the northernmost building of the two-building development. The five-story buildings are on land owned by The Breakers on the north side of the resort.
Cabanas line the oceanfront pool at 2 N. Breakers Row.
The size of the apartment, its location in the building and its location right on the beach distinguish it from other apartments in Palm Beach, as well as its rarity. Corner units at 2 N. Breakers Row rarely become available.
The living room, dining room and kitchen offer views of the water, as do the bedrooms. The corner balcony has glass balustrades, so that the panoramic view to the north, east and south is not obstructed.
Lucy Donahue is a technology strategist who previously served as Chief Strategy Officer at By Light, a McClean-based family-owned business offering information technology services and cyberspace solutions. Her ex-husband is CEO of the company, which has clients including the U.S. military, government agencies and commercial enterprises. website shows.
Lucy Donahue’s ocean views and breeze were among her favorite aspects of the apartment told the Palm Beach Daily New for an August article about the apartment.
“You can hear the ocean throughout the apartment. It’s a gem,” she said. “I don’t have time to enjoy (the condo), and I’ll be sad to let it go because it’s beautiful. I’m definitely going to miss that unobstructed view of the ocean.”
Development is at home some of the most expensive condos ever sold in Palm Beach. It offers a white glove concierge service to its residents. Residents can order meals from The Breakers, contract for housekeeping services and take advantage of the resort’s facilities through a club membership. The condo development opened in 1986.
Amenities include an atrium lobby, private beach, club room, fitness center and 24-hour security staff.
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Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly column “Beyond the Hedges.” He welcomes tips about real estate news on the island. Email [email protected], call 561-820-3831 or tweet @PBDN_Hofheinz. Support our journalism. Subscribe today.
This article originally appeared on Palm Beach Daily News: The Palm Beach condo fetched $12.5 million, a steep discount from the asking price