Gay Hart Gaines, one of the owners of the luxury beachfront home, is a longtime Republican Party fundraiser who also served many years as the national chairman of GOPAC. Stanley N. Gaines is a retired chief executive of an automotive company.

According to the warranty deed, this was a private sale to Endigan LLC, an Arizona-based limited liability company.

The property consists of about 2 acres, with more than 160 feet of ocean frontage and a private road that was purchased in 2003. The property was originally purchased for $6.5 million in 1998.

Source: Palm Beach Daily News

1473 N. Ocean Blvd., Palm Beach

“Pending and closed sales are moving in an upward direction in Palm Beach County, which is very reassuring,” said Bonnie Lazar, President of the Realtors Association. “In addition, February’s median sales price, based on all properties, is up from the previous month and the inventory of homes for sale is down.  This clearly illustrates that Palm Beach County is experiencing a mini-recovery and better times are ahead.”

As sales increase throughout Palm Beach County, the inventory of luxury oceanfront condos is also decreasing. This is one of the best times in recent history to buy a luxury waterfront condo or estate, due to historically low interest rates. If you have been considering selling or buying property, now is a great time to move forward.

Source: Boca News Now