Despite the offseason in Palm Beach, homeowners on the island are still commanding top dollar rents for their luxury homes. Even in the sweltering summer months, rental prices are reaching up to $90,000 per month, as reported by Redfin. Surprisingly, these high-priced listings are not beachfront mansions, but non-waterfront properties on less than an acre of land.
“There are times when people come here in the summer,” said Rosalind Clarke, a Premier Estate Properties agent who manages a $90,000 per month listing at 15 Golfview Road. Clarke noted that rental prices soar during the busy season when demand peaks and affluent clients are in town. “That’s when the people who can actually afford to rent these houses are here,” she added.
During winter and spring, the asking rents for luxury homes in Palm Beach can reach six figures. In 2022, former President Donald Trump listed an oceanfront estate on the island for a staggering $208,000 a month. While most rentals for the high season will be listed starting in September, a few are already on the market.
Here are the top five priciest monthly rentals in Palm Beach’s offseason:
1. $90K | 15 Golfview Road | Owners: Irving W. II & Catherine Bailey
Premier Estate Properties’ Rosalind Clarke lists this 7,400-square-foot home, built in 1928 by Marion Sims Wyeth, on 0.3 acres. It features four bedrooms, five bathrooms, one half-bathroom, and a pool. Irving W. Bailey II, a managing director with Chrysalis Ventures and a nominee for the Development Finance Corporation Board, and Catherine Bailey, former U.S. Ambassador to Latvia, purchased the home for $6 million in 2000.
2. $90K | 100 Regents Park Road | Owner: Dr. Najeeb Thomas
The Corcoran Group’s Dana Koch lists this 5,500-square-foot home, owned by spine specialist Dr. Najeeb Thomas, who bought it for $10.6 million in 2021. The property boasts a luxurious setting at 100 Regents Park Road.
3. $89K | 2 North Breakers, Unit N21 | Owner: Bruce & Stephen Malasky
Jim McCann of Premier Estate Properties lists this Breakers Row condo, which the Malasky brothers, spec developers, purchased for $10.5 million in 2021. This 3,200-square-foot condo, built in 1986, includes three bedrooms, three bathrooms, and one half-bathroom.
4. $75K | 260 El Pueblo Way | Owner: David Khoury
Brown Harris Stevens’ Aubrey Caven Khoury lists this property, owned by real estate developer David Khoury. Purchased for $8.8 million in September, the 3,100-square-foot house, built in 1940, sits on 0.3 acres and features four bedrooms, three bathrooms, and a pool.
5. $75K | 1519 North Ocean Way | Owner: Edward Mulé
Hedge funder Edward Mulé’s beachfront mansion, listed by Allison Wren of Corcoran, is available for $75,000 per month during the summer. The 9,100-square-foot house, built in 1936, includes nine bedrooms, 11 bathrooms, one half-bathroom, and direct beach access. The Mulés bought the property for $15 million in 2019.
These high rental prices illustrate the enduring allure and exclusivity of Palm Beach, even during the typically quieter summer months.
