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+14 photosLuxury estate — 1496 N Lake Way · Boca Ratone Co Inlet · Palm Beach
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Open property magazine$8,000,000
1496 N Lake Way, Palm Beach, FL 33480
Palm Beach, FL, 33480
2 bd · 3 ba · 2,883 sqft
Listed by Compass Florida LLC
1496 N Lake Way, Palm Beach, FL 33480
Listed by Compass Florida LLC
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Estimated monthly payment
$47,728/mo
Know your costs before you buy
Work through three numbers: your estimated monthly payment, the cash needed at closing, and insurance & flood.
Estimated monthly payment $47,728/mo · principal, interest, taxes, insurance and HOA. Verify before you buy.
Cash to close includes the down payment, lender and title costs, taxes, insurance prepayments and escrow deposits. Editable estimate only.
Insurance and flood: X · verify insurance quotes before buying.
About this home
Find similar homesSet on a secluded .22 acre lot at at the corner of North Lake Way and Mediterranean Road on Palm Beach Island's coveted North End, this exceptional property offers an opportunity to restore and reimagine an architectural gem or create a remarkable new residence. Just moments from the Intracoastal, inlet and ocean, and surrounded by mature tropical landscaping, this is truly a special Palm Beach offering.A rare mid-century modern residence designed by renowned Spanish architect, Javier de Olaso, reflecting the relaxed elegance of indoor-outdoor lifestyle in Ibiza. Thoughtfully designed to draw the eye toward the lush gardens, sculptures and private yard, the home enjoys beautiful views from nearly every room and the balcony.
Why we flagged this one
A transparent review of current MLS facts—not a paid placement.
Price reduced 11%
The seller has come down from $9,000,000 to $8,000,000 — a $1,000,000 reduction since it came on the market.
152 days on market
Longer time on market usually means the seller is more open to negotiating on price and terms.
Price reductions and days on market come from this listing's MLS record. This is an initial market signal, not a formal appraisal or full comparable market analysis.
Property Details
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Your costs (est.)
≈ $47,728/mo
1496 N Lake Way, Palm Beach, FL 33480 · Palm Beach
Location
1496 N Lake Way, Palm Beach, FL 33480
What buyers ask about this home
What are the estimated monthly carrying costs at 1496 N Lake Way, Palm Beach, FL 33480?+
Property tax (after sale): $5,474/month est.; homeowners insurance: $744/month est.; HOA: $0/month. Fixed ownership costs before a mortgage: $6,218/month est. Principal and interest: $41,510/month; PMI: $0/month. Total for the payment scenario shown: $47,728/month est. Flood insurance is not included. Estimate only, not guaranteed. Verify before you buy or sell.
Will property taxes go up after I buy 1496 N Lake Way, Palm Beach, FL 33480?+
Usually yes. In Florida the assessed value resets to market value in the year after a sale, so the seller's current tax bill is rarely what a new owner pays. Budget roughly 1.8–2.0% of the purchase price annually until you file for homestead exemption and the Save Our Homes cap (or the 10% non-homestead cap) starts limiting increases.
Does 1496 N Lake Way, Palm Beach, FL 33480 need flood insurance, and what drives the premium?+
Most of Palm Beach sits in a FEMA flood zone, and lenders require flood coverage in high-risk zones. Premiums are driven by elevation certificate, flood zone, roof age and shape, and whether the home has impact windows or accordion shutters. Ask for the current declarations page, the four-point inspection and wind mitigation report early — they set your real cost of ownership.
What should an inspection focus on for a home like 1496 N Lake Way, Palm Beach, FL 33480?+
In coastal South Florida, prioritize roof age and permit history, whether windows and doors are impact-rated, the seawall and dock condition on waterfront lots, drainage and elevation, plumbing type (cast iron and polybutylene are common in homes of this era), and any open or expired permits with the city. These items, not cosmetics, drive both price and insurability.
What extra costs come with the pool at 1496 N Lake Way, Palm Beach, FL 33480?+
A pool typically adds ongoing service, chemicals and electricity, plus periodic resurfacing and equipment replacement. Verify the safety barrier meets Florida code, which is required for insurance and resale.
Is there room to negotiate on 1496 N Lake Way, Palm Beach, FL 33480?+
This listing has been on the market 152 days. Leverage comes from days on market, price history, comparable closed sales and the seller's motivation — not from a fixed percentage. I pull the full history and the true comps before we write, so the offer is built on what the property is actually worth today. Call or text (954) 562-1798 for that analysis.
Neighborhood & Commute
Palm Beach. Historic island address — Worth Avenue, oceanfront estates, and the Breakers, with private clubs throughout.
Approximate Drive Times
Drive times are estimates based on straight-line distance at typical South Florida traffic speeds. Actual times vary with traffic and routing.
Assigned schools for this address
Conniston
Middle school
Career Academy Of The Palm Beaches
High school · 2.7 mi from this home · 3800 S Congress Ave, Boynton Beach
Zone boundaries published by School District of Palm Beach County.
Other options for this address
R J Hendley Christian Community School
Elementary · Private · Christian · Grades PK–8 · Riviera Beach
University Preparatory Academy Palm Beach
Elementary · Charter · Grades PK–8 · West Palm Beach
The Foundations School At Center For Creative Educ
Elementary · Private · Grades K–5 · West Palm Beach
School assignment is set by the district and can change. Always confirm the zoned school with the district before you buy.
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Simon Gedz
Realtor® since 1995
Interested in this property?
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