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The 24th Floor of the Bristol Sells for $44.13 Million

The Bristol Condos

Stephen Ploof recently represented the buyer of two condos, making up the 24th floor of the Bristol, at 1112 S. Flager Drive. The north unit features 6,136 square feet and was listed at $18.425 million while the south unit features 8,377 square feet of living space and was priced at $25.675 million. If the two units were to be combined, the condo would encompass 18,825 square feet of living space inside and on its balconies. 

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3 Tax Benefits of Becoming a Resident of Florida

Tax Benefits in Florida

Florida is a fantastic place to call home, for whatever reason you choose. Florida features miles of beautiful beaches, a fantastic climate, and many attractions and amenities. As we get into the swing of tax season, and our finances are on our minds more than usual, Florida can become an even more attractive place to live. Florida offers a range of tax advantages, and below you will see our top 3!

No State Income Tax

Florida is one of only a handful of states that don't collect income tax on a state level, in addition municipalities and counties are also prohibited from levying personal income tax. Moving to Florida can save someone thousands or even millions of dollars in income tax each year. The prohibition against collecting income tax is part of the Florida Constitution so it is very unlikely this will change anytime soon. 

No Estate or Death Tax

The Florida Constitution also prohibits the state from imposing an estate or inheritance tax like many other states. Again, because this prohibition is outlined in the state constitution, it is very unlikely this will be changing. 

Tax Benefits for a Primary Residence

If you buy a home in Florida and declare it your primary homestead, aside from asset protection benefits, you will also receive two property tax benefits. You will receive an exemption for the first $50,000 of value for property tax purposes. Once the property is qualified for the homestead exemption, the assessed value for tax purposes cannot rise more than 3% in any given year. Thus, over long periods of time, a property’s market value will not increase more than its assessed value, resulting in equity which you don’t have to pay tax on. 

In addition, the Homestead Law in Florida protects residents of Florida from losing their home to a creditor or any other lien holder, except for mortgages. This protection is also found in the Florida Constitution, again ensuring that this protection will be in place for a long time. This law gives a great peace of mind knowing that should something occur, your home is safe. 

 

Establishing residency in Florida is slightly more complicated than just owning a home with a Florida address. You must live in Florida for at least 6 months of the year to establish residency and also qualify as a non-resident of your original state. There are several things you can do to help establish the intent of becoming a resident of Florida: obtain a Florida driver’s license, register to vote, file a Declaration of Domicile with the County Clerk of Courts, file for the Homestead Exemption, and focus one’s major affairs and relationships in Florida. 

**This is not official legal or financial advice. For more information contact a licensed tax professional. We are not responsible for outdated information included in this post. 

680 S. Ocean Boulevard Sells for $16.745 Million

680 S Ocean Blvd. Exterior

Just before New Years, Linda Gary represented the buyer of 680 S. Ocean Boulevard in Palm Beach, which sold for $16.745 Million. The 11,815 square foot, Mediterranean influenced, home sits on a three-quarter of an acre corner lot facing 175 feet of beachfront. The two-story, six bedroom, clean-lined home features dramatic ocean views. The home's layout wraps around a courtyard swimming pool on the west side of the property. 

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Palm Beach December Happenings

December Palm Beach Happening Header

December 5, 2017

Adopt-a-Family of the Palm Beaches - 33rd Annual Tree Lighting Celebration
The Sailfish Club | Call for More Details
$350/ticket

Join the Adopt-a-Family of the Palm Beaches for their 33rd Annual Tree Lighting Celebration. In addition to live holiday music, guests will enjoy a cocktail reception and silent auction followed by a delicious dinner and live auction. For more information call (516)253-1361.

 

December 6, 2017

Palm Beach Round Table - Luncheon
The Colony | 11:30am

Join guest speaker archaeologist Richard Hodge for a delicious luncheon. For more information call (561)832-6418. 

 

Opportunity Early Childhood Education and Family Center - 10th Annual Holiday Luncheon & Boutique
The Sailfish Club | 10:30am
Contact Emily Asher (561-712-9221) to Register

Enjoy some holiday shopping with unique vendors and an exclusive raffle at the 10th Annual Holiday Luncheon and Boutique. Proceeds of all purchases benefit the programs at Opportunity Early Childhood Education & Family Center. After shopping, which begins at 10:30am enjoy a delicious luncheon as the winners of the Community Partner of the Year, Winifred C. Anthony and R.I.S.E Awards are presented. Call (561)712-9221 for more information. 

 

December 7, 2017

Peggy Adams Animal Rescue League - 46th Annual Christmas Ball
The Sailfish Club | 7pm
For Tickets Email: events@peggyadams.org

Join the Peggy Adams Animal Rescue League for their festive Christmas Ball that benefits homeless, neglected, or injured cats and dogs. There will be plenty of adorable pets at the event. For more information call (561)472-8842.

 

YWCA - Mary Rublogg Harmony House Gala
The Breakers | 6:45pm
$500/ticket | $5,000/table of 10

Join the YWCA for a night of dancing and entertainment proceeded by a delicious dinner to benefit the Harmony House. The Harmony House is a shelter for women and children that are victims of domestic violence. For more information call (561)640-0050 ext115. 

 

December 8, 2017

Morse Life - Dinner Dance
The Breakers | 7pm
$1,000

Join Morse Life for a night of fun cocktails, delicious dinner, entertainment, and music. For more information call (561)242-4661. 

 

December 9, 2017

Diocese of Palm Beach - 29th Annual Lumen Christi Scholarship Gala
The Breakers | 7pm

Join the Diocese of Palm Beach for their annual scholarship gala. 100% of the net proceeds of the Lumen Christi Scholarship Gala go to needs-based tuition scholarships which are shared equally among the schools. For more information call (561)775-9517. 

 

December 12, 2017

Palm Beach Symphony - 2nd Annual Ladies Guild Luncheon
The Beach Club | 11am
$175/Ticket

Join the Palm Beach Symphony for a fun luncheon with music and friendship to celebrate the 2016-2017 season. For more information call (561)568-0265. 

 

December 13, 2017

Jewish Women’s Foundation of the Greater Palm Beaches - Imagine the Possibilities Luncheon
The Colony | 11:30am

Raise a glass with the Jewish Women’s Foundation to 15 years of improving the lives of women and children. This annual luncheon encourages guests to envision a world where women and children can be safe and succesful. Scholarship opportunities available. For more information call (561)275-2200.

 

St. Edward Guild - Annual Dinner Dance
The Breakers | 7pm

Join the St. Edward Guild for their annual dinner dance. For more information call (561)832-0400. 

 

December 28, 2017

Loggerhead MarineLife Center - Beach Bash Palm Beach
The Beach Club | 8pm
Tickets begin at $250

Save the sea turtles while wearing your favorite Lilly Pulitzer print and celebrate the Palm Beach Lifestyle. Enjoy drinks and dancing at this year Beach Bash Palm Beach. This event benefits LMC’s Sea Turtle Hospital. Call (561)627-8280 ext 103 for more information. 

 

735 Island Drive Sells for $23.8 Million

735 Island Drive Exterior

Linda Gary represented the buyers of 735 Island Drive this week. The 11,775 square foot, Georgian-style home sold for $23.8 Million after a year and a half on the market. 

The seven-bedroom home was built in 2008 on three-quarters of an acre with 190 feet of water frontage on the south end of Everglades Island. Designed by architect Thomas Kirchhoff, the home feels very open, with high ceilings and direct views through the house to the ocean. The home is unique from many of its neighbors because the swimming pool is not the main focus of the waterfront view and is not visible from the main living areas. The home follows typical Georgian-style with symmetry and classical details such as pilasters, quoins at the corners, and stone pendants. 

Let Linda Gary Find Your Palm Beach Dream Home 
Contact her Today to Begin your Home Search | Browse Current Listings

Palm Beach November Happenings

Palm Beach November Social Calendar Header

November 2, 2017

Palm Beach Fellowship of Christians and Jews - Welcome Back Reception
Society of the Four Arts | 5:30 pm - 7:00 pm
FREE to Fellowship Members | $10/Session non-Members | $35 Season Pass

Join the Palm Beach Fellowship of Christians and Jews for their 25th annual Welcome Back Reception. At this year’s event they will be previewing exciting programs and events that are planned for this season. For more information call (561)833-6150. 


November 3, 2017

Habitat for Humanity of Palm Beach County - Habitat Gala
The Breakers | All Day
Purchase Tickets Here

Enjoy a cocktail hour followed by a three-course ocean-front dinner with Habitat for Humanity at their Habitat Gala. There will also be an open bar, auctions, dancing, and more. For more information call (561)512-1440. 


Forgotten Soldier’s Outreach - 3rd Annual Hero's Toast Champagne Brunch
The Colony | 10:00 am
$125 per Ticket | $200 VIP Tickets

This year’s Hero’s Toast keynote speaker will be Colonel Matthew Bogdanos, US Marine Officer, author, and Assistant District Attorney in New York. For more information and to purchase tickets, visit their website or call (561)369-2933. 


November 4, 2017

Palm Beach Day Academy - Walter H Butler Golf & Tennis Classic Awards
The Breakers | Call for more details: 655-1188 ext.129

Enjoy a fun day of golf and tennis starting with a light breakfast and silent auction. The day will end with lunch and an award ceremony. Call (516)655-1188 ext 129, or visit their website, for more information on how you can participate. 
 

November 6, 2017

Cultural Council of Palm Beach County - Culture and Cocktails
The Colony | 5:00 pm
$65 Advance Tickets | $85 at the Door

Grab a glass of wine and enjoy the delicious hors d-oeuvres at The Colony Palm Beach for a night of culture. Special guests include Alexander W Dreyfoos and George T Elmore. Call (561)472-3330 for more information. 
 

November 15, 2017

Palm Beach Round Table - Evening Speaker
The Colony | 5:45 pm

Enjoy speakers Dante Colussy and John Bloom. For more information call (561)832-6418.


November 17, 2017

Kid Sanctuary Campus - Haute Hoedown
Flagler Museum | 6:30 pm
$200 per Ticket

Join Kid Sanctuary for the 5th annual Rhinestone Cowboy dinner dance. Enjoy a luxury raffle signature cocktails, live entertainment, dancing, and more. For more information call (561)653-8274


November 28, 2017

Grandma’s Place - Annual Holiday Luncheon
The Beach Club | 11:30 am
Invitation Only

Join Grandma’s Place for their 3rd annual Holiday Luncheon. This year’s luncheon is held in memory of Lou Ann Wilson-Swan, the founder and chair of the luncheon. For more invitation and to receive an invitation, call Roxanne Jacobs at (561)753-2226. 

100 Casa Bendita Sells for $34 Million

100 Casa Bendita Palm Beach

Linda Gary represented the buyers of 100 Casa Bendita in the North End of Palm Beach for  $34 million this week. The estate, built in 1998, was listed for $39.5 million. 

The one-floor, six-bedroom, two and a half bath mansion sits on nearly one-acre with about 203-feet of beach frontage. The home also features 13,773 square feet of living space. The one-story configuration makes it unusual for its size in Palm Beach. 

Jeffery Smith of Smith Architectural Group designed 100 Casa Bendita with a variety of Mediterranean-style features including cast stone details, vaulted and beamed ceilings, Venetian plaster wall treatments, Jerusalem limestone floors, Italian mosaic accents, and so much more. 

This sale marks the second sale in one month topping $30 million in which Gary was the buyer's agent. The other sale was of 1330 S. Ocean Boulevard

Let Linda Gary Find Your Palm Beach Dream Home 
Contact her Today to Begin your Home Search

1330 S. Ocean Boulevard Sells for $31.59 Million

1330 South Ocean Boulevard

Early this month Linda Gary represented the buyer of 1330 S. Ocean Boulevard, which closed at $31.59 million. The five bedroom, Italian-style home sits on nearly 2-acres with 184-feet of waterfront. The home features 14,704 square feet of living space and was sold furnished in a soft contemporary style. The home also features views of the Audubon bird sanctuary in the Intercoastal Waterway. 

Let Linda A. Gary Real Estate Find Your Next Palm Beach Home 
Contact Her Today to Get Started 

180 Barton Avenue Sells for $11.55 Million

180 Barton Avenue

Linda Gary and Bobby Goodnough, both of Linda A. Gary Real Estate, co-listed and sold 180 Barton Avenue this week. 180 Barton was sold for $11.55 million, more than double what it sold for just 18-months ago. The property was on the market for less than three months before selling.

The French-style, four-bedroom main residence and two-bedroom guesthouse home were built in 1982 and went under a massive renovation before its sale this week. Combined, there are a total fo 8,000 square feet of living space on the property sitting on nearly three-fourths of an acre. 

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247 Jungle Road Sells for $8.94 Million

247 Jungle Road

This four-bedroom Mediterranean-style home, which had renovations done in 2002, sold this week for nearly $9 million. The home originally sold for just over $6 million in 2001. It was listed by Linda Gary.

The L-shaped home features a two-story pool cabana with a one-bedroom apartment and a total of 8,787 square feet of living space. The lot is just shy of a half an acre. The interior features a cast stone fireplace in the living room, french doors, stone and hardwood floors, and beamed-and-coffered ceilings. 

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