Palm Beach house’s sale price vaults nearly 200% since it last sold new in 2003

Longtime Palm Beach resident Dorothy “Dottie” Alban has sold — for a recorded $10.8 million — the North End house she and her late husband, businessman James C. “Jay” Alban III, bought new 21 years ago at 249 W. Indies Drive.

That’s a jump in value of nearly 200% over the previous transaction.

The Albans paid $3.675 million for their home on West Indies Drive in January 2003, property records show.

The 239 Monterey Land Trust was on the buyer’s side of the sale that closed June 18. Its trustee, attorney Paul A. Krasker, could not be immediately reached for comment. The trust has a mailing address in care of a Park Avenue apartment in New York City, according to the deed. The same trust paid $7.1 million for a Palm Beach property at 239 Monterey Road in March 2021, the year a house there was completed, courthouse records show.

With Regency-inspired architecture, the five-bedroom house on West Indies Drive has 5,462 square feet of living space inside and out.

Dotty Alban and son James C. Alban IV sold the house as personal representatives of the estate of James C. Alban III, the deed shows.

With Regency-inspired architecture, a Palm Beach house at 249 W. Indies Drive on the North End has changed hands after being marketed with an asking price of $12.75 million.With Regency-inspired architecture, a Palm Beach house at 249 W. Indies Drive on the North End has changed hands after being marketed with an asking price of $12.75 million.

With Regency-inspired architecture, a Palm Beach house at 249 W. Indies Drive on the North End has changed hands after being marketed with an asking price of $12.75 million.

The house was developed and built by Skip Gozzo of Gozzo Estate Homes in Jupiter and completed in 2001. Five blocks south of the Palm Beach Country Club, the midblock lot measures about a third of an acre.

“We fell in love with this place at first sight,” Jay Alban III told the Palm Beach Daily News in a 2023 article published about a year before his death at 83.

The exterior of the house features Regency-style architectural elements, including quoins at the corners and columns supporting a pediment over the double front doors.

Inside, rooms have detailed millwork and moldings. The floorplan includes a formal living room with a fireplace; a bedroom used by the Albans as an office; a formal dining room; and a family room open to the kitchen and breakfast area. Many of the rooms look out to the pool, which has a whirlpool spa.

On the west side of the house is an attached two-car garage and a bedroom suite that doubles as a pool cabana.

A pool with a whirlpool spa is part of the backyard area at 249 W. Indies Drive in Palm Beach.A pool with a whirlpool spa is part of the backyard area at 249 W. Indies Drive in Palm Beach.

A pool with a whirlpool spa is part of the backyard area at 249 W. Indies Drive in Palm Beach.

Listing agents Ashley McIntosh and Chris Leavitt of Douglas Elliman Real Estate had the house priced at $12.75 million when it sold. It had previously been on the market with another agency at a price as high as $16 million.

Elliman agents Cara McClure and Lisa Wilkinson represented the buyer, the multiple listing service shows. Wilkinson declined to discuss the transaction and also declined comment on behalf of her buyer.

Jay Alban died on March 5 in Amelia Island, where two of his three children live. The Albans other child, James C. Alban IV, and his wife, Garland, own a landmarked house across town on Clarendon Avenue, property records show.

Jay Alban was a former president of Baltimore-based Alban Tractor Co. Inc., his family’s business, where he began working in 1962, according to his obituary. The company specialized in heavy equipment and power systems.

In 2020, Alban Tractor Co.’s assets were acquired by Carter Machinery of Salem, Virginia.

The former Alban house on W. Indies Drive has hardwood floors, ceilings at least 12 feet high in some rooms and doors fitted with impact-resistant glass.

The main bedroom suite features an expansive closet and a marble appointed bathroom with three sinks, a soaking tub and a glassed-in shower.

The house is the second property to sell on street within a month. In late May, a recently remodeled house built in 1961 sold for a recorded $12.5 million at 257 W. Indies Drive. Jeffrey T. Newton and Marie-Louise Palandjian bought the four-bedroom house and one-bedroom guesthouse, which have with a combined 4,841 square feet of living space, inside and out. The seller of No. 257 was a Delaware-registered limited liability company named after the property’s address. Douglas Elliman Real Estate agent Gary Pohrer had the listing for No. 257, and Connaughton represented the buyer.

The two sales are among a number of sizable real estate deals that have closed in Palm Beach while the summer off-season has been getting underway.

In the 2021 sale at 239 Monterey Road, McClure and Wilkinson represented the buyer opposite their Elliman colleague Michael Costello as listing agent, the MLS shows.

This story was updated from a previous version. This a developing story. Check back for any updates.

Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call 561-820-3831 or tweet @PBDN_Hofheinz.

This article originally appeared on Palm Beach Daily News: Palm Beach home that sold new for under $4M in 2003 sells for $10.8M

Source link

Visited 1 times, 1 visit(s) today

Related Article

Video shows green flames following Texas Tech underground explosion

Video shows green flames following Texas Tech underground explosion

Texas Tech University closes early after manhole explosion An underground explosion at Texas Tech University that caused “widespread power outages” is under investigation, according to university officials. The Texas Tech University campus in Lubbock remains closed after a manhole explosion apparently sparked a series of fires around campus Wednesday night. Video shows green flames coming up through

PHOTO: In this April 29, 2024, file photo, demonstrators from the pro-Palestine encampment on Columbia's Campus show a banner as they barricade themselves inside Hamilton Hall, in New York.

Columbia students who occupied Hamilton Hall in pro-Palestinian protest expelled, suspended

Columbia University said students who occupied the campus’ Hamilton Hall during pro-Palestinian protests last spring have been expelled, suspended for several years or had their degrees temporarily revoked. The sanctions were issued by the Columbia University Judicial Board on Thursday, the school said. “The outcomes issued by the UJB are based on its evaluation of

Vladimir Putin sets out conditions for Ukraine ceasefire

Vladimir Putin sets out conditions for Ukraine ceasefire

James Landale Reporting fromKyiv, Ukraine Getty Images Russian President Vladimir Putin said he agreed with the idea of a ceasefire in Ukraine, but that “questions” remained about the nature of a truce as he set out a number of tough conditions. The Russian president was responding to a plan for a 30-day ceasefire, which Ukraine

A boy throws ice into the sea in Nuuk, Greenland, Tuesday, March 11, 2025. (AP Photo/Evgeniy Maloletka)

AP Week in Pictures: Global

March 7 – 13, 2025 This photo gallery, curated by photo editor Eloy Martin, highlights some of the most compelling images worldwide made or published by The Associated Press in the past week. A boy throws ice into the sea in Nuuk, Greenland, Tuesday, March 11, 2025. (AP Photo/Evgeniy Maloletka) A boy throws ice into

'Killed in front of our eyes': Survivors reveal how the 36-hour Pakistan train hijacking unfolded

‘Killed in front of our eyes’: Survivors reveal how the 36-hour Pakistan train hijacking unfolded

Militants hijacked a train in southwestern Pakistan on Tuesday, holding passengers hostage for nearly 36 hours. The Pakistani military later announced on Wednesday that a successful rescue operation had ended the standoff, freeing the hostages and eliminating over 30 militants.Earlier on Tuesday, Mehboob Hussain was travelling when an explosion damaged the tracks beneath the front

Pakistan hints at India role in deadly train hijacking

Pakistan hints at India role in deadly train hijacking

ISLAMABAD: Pakistan has hinted at India being behind the train hijacking in Balochistan this week, saying the handlers of the attackers were based in Afghanistan and were allegedly sponsored by India.On Thursday, Pakistan foreign office spokesperson Shafqat Ali Khan said Islamabad had evidence that calls related to the hijacking originated in Afghanistan. Asked by reporters

Evening Headlines

Canadian entrepreneur Jasmine Eagle detained by ICE

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US A Canadian businesswoman who was arrested in the United States by Immigration and Customs Enforcement (ICE) agents over an

Donatella steps down as creative director, Dario Vitale to take over

Donatella steps down as creative director, Dario Vitale to take over

Annabel Rackham Culture reporter Getty Images Donatella Versace pictured last week at the Vanity Fair Oscars party Donatella Versace is to step down from her creative director role at fashion house Versace, after nearly 30 years. She has held the position since 1997 and took over after the murder of her brother Gianni. Versace has

Peace talks are in parallel universe, say Ukraine front-line troops

Peace talks are in parallel universe, say Ukraine front-line troops

Jonathan Beale Defence correspondent, BBC News Reporting fromEastern Ukraine BBC Ukrainian soldiers on the battlefield say they don’t expect to see the war end any time soon While Moscow considers a temporary ceasefire, its military machine continues to press its advantage on the front line. Diplomatic negotiations can be slow and difficult. But on the

Former Canadian Deputy prime minister

Former Canadian Deputy prime minister

IE 11 is not supported. For an optimal experience visit our site on another browser. New York Times writer warns ‘Democracy Dies in Dumbness’ 10:42 ‘I get stopped everywhere’: Actress Natasha Rothwell on the popularity of ‘White Lotus’ 05:02 Rep. Jeffries slams Trump and House GOP for ‘far-right, extreme bill’ that will hurt Americans 04:23

European Union Announces Retaliatory Tariffs On US Products

European Union Announces Retaliatory Tariffs On US Products

IE 11 is not supported. For an optimal experience visit our site on another browser. Experts share 5 things they would never do on a spring vacation 07:21 Video shows high school runner appearing to strike fellow athlete 00:36 How Canadians are reacting to Trump’s tariffs 02:21 Cast of ‘Taxi’ reunite to celebrate Danny DeVito’s

How the Pakistan train hijacking unfolded

How the Pakistan train hijacking unfolded

AFP More than 400 people were on the train when it was attacked Mehboob Hussain was riding the train home on Tuesday when the tracks under the front car exploded. In the depths of central Pakistan’s Bolan Pass, a pocket of wilderness so remote that there is no internet or mobile network coverage, the nine-coach

Philippines Duterte's first night in a jail cell is a pivotal moment for the ICC

Philippines Duterte’s first night in a jail cell is a pivotal moment for the ICC

What we know about Duterte’s ICC arrest warrant… in 92 seconds Outside the International Criminal Court’s (ICC) detention centre, where former Philippines president Rodrigo Duterte was taken on Wednesday, his supporters gathered, waving national flags and shouting, “Bring him back!” as he was driven through the imposing iron gates at speed. Shortly before he landed

0
Would love your thoughts, please comment.x
()
x