The house at 218 Everglade Avenue in Palm Beach was sold by Justin B. Besikof to Rob and Randi Valerious, the deed shows.
Darrell Hofheinz Palm Beach Daily News
New houses continue to be prime attractions for buyers in Palm Beach, even when they’re still under construction.
This week, a house being built at 218 Everglade Ave. on the near North End sold for $8.06 million, the price recorded with the deed.
The actual value of the deal may be more. The terms of the contract weren’t disclosed, but it’s not uncommon when properties sell in mid-construction for there to be another transaction once work on the house is completed.
With a planned four bedrooms and 4,153 total square feet, the house had been listed for sale since April 2021, initially at a price of just under $9 million in the multiple listing service. The asking saw incremental hikes until landing at just under $12 million in early January. The property went under contract Jan. 18, the MLS shows.
Construction is slated for completion this fall, according to the property’s sales listing.
The house was developed and sold by seasonal Palm Beach resident Justin B. Besikof, an investment banker and mergers-and-acquisitions specialist. His primary residence is in Wayzata, Minnesota, which also is home to Madeira Partners, the firm he founded and where he serves as president.
Besikof represented his own interests in the sale on Everglade Avenue as a real estate agent with Linda R. Olsson Inc., Realtor, the agency on the seller’s side.
Besikof declined to comment about the transaction.
Features of the two-story house include a living room, a family room, an elevator, smart-home technology and two laundry rooms, according to the sales listing. The kitchen will have an 11-foot center island and high-end appliances. Your stories live here.Fuel your hometown passion and plug into the stories that define it.Create Account
Outdoor amenities will include a loggia, a barbecue area, an outdoor shower, and a pool with a whirlpool spa and “sun shelf.”
The buyers were a Palm Beach couple, Rob and Randi Valerious, according to the deed recorded Tuesday. They own a house across town at 345 Brazilian Ave., which they have homesteaded as their primary residence, property records show. They bought that house for a recorded $4.17 million in February 2020.
Rob Valerious’ resume includes a tenure as an executive at Chicago-based Allied Benefit Systems, a third-party administrator for health insurance services, according to its website.
Agent Elizabeth DeWoody of Compass Florida handled the buyers’ end of the deal on Everglade Avenue. She and her clients declined to discuss the sale.
In December 2020, Besikof paid $2.5 million for the Everglade Avenue lot, which measures less than two-tenths of an acre, and then razed a house there to accommodate the one he just sold.
The house is similar in size and layout to one Besikof and his wife, Meira, built and sold in December 2020 for a recorded $6.34 million at 307 Chilean Ave. As previously reported by the Palm Beach Daily News, that house changed hands again late last month for $12 million — a price that reflected the sharply escalating home values that have marked Palm Beach real estate over the past year.
Like the house on Everglade Avenue, the four-bedroom house on Chilean was designed by Palm Beach architects Patrick Segraves and Daniel A. Clavijo of SKA Architect + Planner and built by Dunworth Construction & Development.
The Besikofs, meanwhile, own a 1937 landmarked home at 360 Seaspray Ave., which they bought for a recorded $3.86 million in May 2021. Building records show they have carried out a number of improvements at the house, which suffered heavy fire damage in 2015 and was renovated before the Besikofs bought it.
The sale on Seaspray was handled on both sides by Sotheby’s International Realty, with agent Keith Vanderlaan acting for the seller and Lore D. Smith representing the Besikofs, according to the multiple listing service.
Broker Linda Olsson of Linda R. Olsson Inc., Realtor, represented the Besikofs in both of their transactions on Chilean Avenue. When they bought the property in May 2019, agent Burt Minkoff of Douglas Elliman Real Estate was the listing agent. When the Besikoffs sold the house they built there in late 2020, DeWoody acted for the buyer.
In the sale on Chilean last month, DeWoody handled the seller’s side and the buyer was represented by broker Christian Angle of Christian Angle Real Estate.
DeWoody also represented the seller in 2020 when the Valeriouses bought their home on Brazilian Avenue. In that deal, agent Gary Feldman of Sotheby’s International Realty acted for the buyers.