South Florida Sun-Sentinel (Sunday)
‘Like finding a needle in a haystack’
Bucs co-owner lists Palm Beach waterfront mansion for $55 million
An 11,443-square-foot waterfront estate on a two-acre lot in Palm Beach was listed for sale last week for $55 million — and there’s a good chance it may be torn down and replaced with something brand new.
Located at 854 S. County Road, the two-story gated home was built in 1936. It has six bedrooms, 10 baths, a guest house, a formal dining room, bar and oversized family/media room. Outside you’ll find a pool, cabana, putting green, dock and 220 linear feet of frontage on the Intracoastal Waterway.
The property is within walking distance of Worth Avenue and its boutiques and restaurants.
“You’re exactly one mile to Worth Avenue, and you’ve got sidewalks all the way there,” said Gary Pohrer, a real estate agent with Douglas Elliman Real Estate in Palm Beach, who holds the listing.
According to public records, the home is owned by Darcie G. Kassewitz, a co-owner of the Tampa Bay Buccaneers, and her husband Joel Kassewitz. They acquired the property
in March 2010 for $20.5 million. Pohrer said they are selling because they are spending more of their time in Tampa.
According to Douglas Elliman, the median price of a luxury home in Palm Beach in the second quarter of 2021 was $17.75 million, an increase of 26.8 percent from the prior year.
“The market has never been stronger,” said Pohrer. “The demand in the higher-end waterfront properties is definitely strong, and a house with two acres is like finding a needle in a haystack.”
That acreage, and the frontage on the Intracoastal, are two reasons why the property may end up being purchased by someone who plans to tear down the existing home and build a new one, or at least renovate what’s there.
“In today’s market, when somebody is spending $55 million, they are probably willing to spend $75 million to create their own amazing estate,” Pohrer said.