The middle one of three Biltmore penthouses, some of the most exclusive of Palm Beach Florida's real estate, is on the market for $10.5 million.  This luxurious Palm Beach FL home boasts beautiful views of the Intracoastal Waterway and the Atlantic Ocean, an extended balcony facing east across most of the 10th floor, a private elevator, and direct access to the beach club restaurant at The Biltmore.

According to the Palm Beach Daily News on January 28, 2009, if this prestigious real estate in Palm Beach sells for the asking price it may break a local record for condominium sales.  The sale would include 3,299 square feet for $3,183 per square foot - the highest price per square foot on record for a Palm Beach Florida condo.

One Biltmore resident quoted in the Daily News article calls the buy a "trophy opportunity."  She explains that The Biltmore is one of the top buildings in the southeast quadrant of the United States.


Originally built in 1925, before this property became a Biltmore it served as The Alba Hotel.  Then, in the 1970s, it was converted into condominiums.  This middle penthouse originally had three bedrooms and has been remodeled to feature two master bedrooms with two full baths and two half baths.  It features a very large butler’s pantry off the kitchen, a wood-paneled library, good lighting, and high ceilings.  Two more balconies on the west side are accessible from the library and from a master bedroom.

The penthouse comes with a poolside cabana, which can be sold separately for approximately $400,000.

Daily News explains that the two-bedroom home is located at 150 Bradley Place No. 1002.  Owner Pari-Sima Pahlavi, the sister-in-law of the former shah of Iran, bought the property in 1993 with her late husband Dorrez Dolats for $2.7 million - one indication of the long-term strength of the resort real estate market.

In 2007, two of the three penthouses at The Biltmore changed ownership for $6 million and $8.9 million.  The south unit boasts almost 4,000 square feet and may hold the current record for per-square-foot sales for being sold at $2,274 per square foot.  Additionally, a penthouse at II Lugano set a local record for total price ($12.1M) but since it is 5,798 square feet, it didn't break the record for cost per square foot.