Trump’s Hidden Palm Beach Estate
Long before former President Donald Trump became a colossal figure in American politics, the 45th President became well-known for owning an impressive real estate portfolio. Although primarily residing in Manhattan, Trump’s private Mar-a-Lago club was well-established amongst the rich and famous. Mar-a-Lago drew even more media attention throughout Trump’s presidency, as he made the property his secondary White House.
A lesser-known Trump property, meanwhile, can be found tucked away directly across the street from the esteemed resort. This expansive property has been in the Trump family for decades, and they are currently looking to sell or rent. Trump’s sister, Maryanne Trump Barry, owned the estate for several years before being purchased by Donald Trump Jr. and Eric Trump for $18.5 million in 2018. Three years later, they listed the property for a whopping $49 million before being relisted for an increased price of $59 million. Although those numbers may seem shockingly high, they fall within a “reasonable” price range for a beachfront home on Palm Beach Island, where real estate has soared since the pandemic.
The estate boasts an impressive 8,200 square feet on just shy of half an acre. The home boasts a sprawling eight bedrooms and ten bathrooms, with unobstructed views of the Atlantic from virtually every room. Perhaps the most notable feature of the property is its proximity to Mar-a-Lago, located just steps away. Owning the Trump home, however, is no guarantee of membership in the private club. There is a long waiting list, with initiation fees ranging up to $1 million.
There is light at the end of the tunnel for those itching for a way into the prestigious resort. Trump offers access to the resort during the lease term for an annual rental fee of just $195,000 per month. This is a decrease from the listing’s initial asking price of $208,000 per month.
While there is no doubt that the prestigious property is worthy of a hefty price tag, the question must be asked: to what degree is the “Trump” name factored into the price? Regardless of the answer, both the rental and the sale listings have proved unsuccessful so far. After spending hundreds of days on the market, both listings have recently expired. The property’s future is uncertain, but one thing is for sure – if the Trumps can get anywhere near the asking price for the property, it will have proven to be a very profitable investment.
Sasha Kraver is a luxury real estate agent with Douglas Elliman on Palm Beach Island.
Other stories you may want to read:
- Breaking Down the 2023 Palm Beach County Real Estate Market - July 31, 2023
- Tom Ford Breaks Another Palm Beach Real Estate Record - May 20, 2023
- Luxury Living: 2023 Design Trends Transforming Palm Beach’s Real Estate Landscape - April 23, 2023