House in Trump security zone is listed for $12.5 million
The four-bedroom house at 112 Algoma Road is priced at $12.5 million and is a potential tear-down, according to the May 20 sales listing. The street is the third one north of Mar-a-Lago in the neighborhood that closes to through-traffic when the president is in residence at his private club.
Built in 1952, the one-story house on Algoma Road is being marketed in the local multiple listing service in two categories – single-family homes and land.
With 2,930 total square feet, the Bermuda-style house stands on a non-waterfront lot of about a third of an acre. It's the second house west of South Ocean Boulevard, which divides a row of direct-beachfront homes from the rest of the Estate Section.
The house has been in the same family for nearly 45 years. Property records show its owned through a trust by Joyce S. Vaughn, who has it homesteaded as her primary residence in the latest Palm Beach County tax rolls. She bought the house for a recorded $385,000 in 1981 with her late husband, management-consulting executive Clother Hathaway Vaughn III. He died in 2019 at 85.
Agent Margit Brandt of Premier Estate Properties holds the listing, which describes the property as having a 'bespoke' location with a 'truly elite level of privacy' and nearby deeded beach access. The listing says the house has a swimming pool but provides no details about the home's interior.
'Looking at the market today, 112 Algoma is the only dry lot available for sale in Palm Beach's Estate Section,' Brandt told the Palm Beach Daily News. 'It is also the only piece of land publicly available (in the MLS's land category) in the presidential security zone adjacent to Mar-a-Lago. This presents a special opportunity for a buyer to build their dream home in one of the most coveted, exclusive locations in the world.'
Since early December, six residential properties in the Mar-a-Lago security zone have sold at prices ranging from $12 million to $27.5 million.
Among those sales was another on Algoma Road. In December, that never-lived-in, five-bedroom house developed on speculation at 130 Algoma Road changed hands for a recorded $14.3 million.
Two other houses are 'active' listings in the MLS's single-family category in the same neighborhood. An estate at 160 Clarendon Ave. is offered at $48.85 million by broker Lawrence Moens of Lawrence A. Moens Associates, while a house at 1048 S. Ocean Blvd. is listed at $23.95 million by agent Elizabeth DeWoody of Compass Florida.
One other neighborhood house is listed in the 'pending' category of the MLS, meaning it is under contract. That's a four-bedroom house at 142 Via Palma with 7,633 total square feet, listed by Brandt at $18.95 million.
When Trump is at Mar-a-Lago, security officers shut down South Ocean Boulevard in the neighborhood, opening the road only to property owners or their authorized visitors, representatives or workers. The security zone runs north from the club property for seven blocks, or about half a mile, to South County Road.
Because the area is bordered by the Atlantic Ocean on one side and the Intracoastal Waterway on the other, the roadblock effectively divides the town in two, forcing through-traffic to detour across bridges into West Palm Beach and back.
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly 'Beyond the Hedges' column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com. Help support our journalism. Subscribe today.
This article originally appeared on Palm Beach Daily News: $12.5M listing in Mar-a-Lago security zone is a possible tear-down
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