- The Heyers bought a renovated 5-bedroom home at 231 Via Las Brisas in Palm Beach’s Phipps Estates for $18 million on Dec. 16, 2025, more than 500% above its 2014 sale price.
- The Via Las Brisas home sold about 16% below its $21.5 million asking price, signaling price sensitivity even in ultra-luxury enclaves.
- Two days later, the Heyers sold their 1926 Mediterranean home on a rare double lot at 252 Seaspray Ave. in Midtown for about $12 million, above the $11.7 million list amid multiple offers.
- The paired deals highlight strong demand for well-renovated homes, with newer, larger, more private properties drawing buyers away from smaller historic Midtown houses.
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This pair of transactions offers several strategic insights into Palm Beach’s luxury housing market heading into 2026.
Price appreciation and luxury bifurcation. The Via Las Brisas acquisition demonstrates exceptional appreciation: since 2014 the Heyers’ purchase price rose by more than 500%, underscoring the steep premium for fully renovated properties in prime enclaves like Phipps Estates. Meanwhile, the Seapraysale indicates that historic homes in Midtown still command strong demand when substantially renovated and priced right, even if they’re smaller and lack resort-scale acreage.
Scarcity and lot quality matter. The Via property’s ~0.45-acre lot and features like outdoor entertaining spaces, impact windows, and a private pool reflect growing preference for both privacy and high-end comfort. Seaspray’s “rare double lot” in a Sea street points to lot configuration and originality as selling points, particularly when paired with modernization.
Market dynamics—listing vs sale gap. At Via Las Brisas, the property was listed in March 2025 for $21.5 million, but sold in December for $18 million—approximately 16% below list price. The Seaspray home, listed at $11.7 million in late October, sold in mid-December for $12 million—above list—amid multiple offers. These suggest overpricing risk at the ultra-luxury end, while well-positioned historic homes remain capable of bidding competition.
Migration of demand from Midtown to elite enclaves. The Heyers’ move from a symmetrical Mediterranean-style home in Midtown to a larger, newer, fully renovated estate in Phipps Estates illustrates a trend among luxury buyers preferring newer construction, larger scale, and more secluded settings over central older homes—even those with charm and history.
Strategic implications for investors and developers. For sellers, striking while market is receptive to renovated historic homes may yield outsized returns. Investors should watch how pricing thresholds shift, particularly for lot sizes and amenity quality. For developers, opportunities may exist in combining modern luxury with historical aesthetics, or in restoring Midtown’s older homes—but mindful of pricing sensitivity. Also, the discounted sale at Via Las Brisas may indicate limits to what buyers are willing to pay even in ultra-premium zones.
Open questions. How sustainable are these outsized appreciation rates outside ultra-luxury enclaves like Phipps Estates? Will climate risks (noted via flood and wind factors) start becoming price dampeners? Are similar moves happening elsewhere in Palm Beach indicating broader shifts, or isolated to buyers with substantial capital flexibility?
Supporting Notes
- 231 Via Las Brisas sold for $18 million on December 16, 2025; its lot is 0.45 acres; 5 bedrooms, 8 bathrooms; built in 1999; last sold in 2014 for ~$2.935 million.
- The house was listed at $21.5 million in March 2025, but sold for 16% less than the asking price.
- Exterior features include hurricane-impact windows and doors, a private pool, outdoor kitchen (summer kitchen), loggia; interior features include a grand foyer, split floor-plan, expansive primary suite with dual baths and offices.
- 252 Seaspray Avenue sold for $12 million on December 18, 2025; it is a 1926 Mediterranean-style home, with 4 bedrooms, 4 full bathrooms, 1 half bath; ~3,207 interior square feet; sits on a rare double lot (0.28 acres).
- The Seaspray home includes guest apartment above the garage, original architectural details (high ceilings, wide plank floors, pecky cypress-paneled family room), updated kitchens & baths, hurricane-impact windows, resort style pool/patio.
- The sellers, Heyers, sold Seaspray and purchased on Via Las Brisas, showing a move from Midtown to Phipps Estates.