New houses continue to be prime attractions in Palm Beach, as a private sale recorded at $20.5 million just reaffirmed on the North End.
A never-lived-in house at 260 Nightingale Trail — developed on speculation and recently completed — landed under contract before it had a chance to hit the market.
The four-bedroom house has a little more than 5,000 square feet of living space, inside and out, according to Compass Florida agent Chris Deitz, who handled both sides of the deal.
“There was really nothing new (on the market) and people are vying for new construction,” Deitz said.
Deitz confirmed he also invested in the development of the house with a partner, Imperial Capital Asset Management.
The deed that sold the property was recorded May 1 and signed by Jason W. Reece, chairman and CEO of Imperial Capital, which is headquartered in Los Angeles but has an affiliated office in Palm Beach Gardens. Reece signed the document on behalf of Imperial Capital Asset Management, the parent company of Nightingale 260 Property LLC, the Florida limited liability company listed as the seller.
The buyer was Drew Caplan, who acted as trustee of the 260 Nightingale Trail Trust. Because of privacy rules governing trusts, no other information about anyone else associated with the buyer’s side of the deal was immediately available in public records.
With British West Indies-style architecture, the house stands on a lot of nearly a half-acre about halfway between the Palm Beach Country Club and the inlet at the northern tip of the island. It is the second house east of North Lake Way.
The developers bought the property for a recorded $8.55 million in 2024, property records show.
Deitz declined to comment about the buyer of the house but said the sale came together quickly, about 30 days before construction was completed. The buyer was able to make minor customizations, Deitz said.
The house’s selling points, Deitz added, included its high-end finishes. He mentioned a high-end “floating” ceiling in the family room; state-of-the-art smart-home and security technology; and ample Florida coral stone for the hardscape. The loggia facing the pool has a copper-covered roof.
The two-story house’s layout includes a formal living room, a formal dining room, a den and a first-floor primary bedroom.
The location aslo was a selling feature, Deitz said. The homeowners’ group in the neighborhood maintains the North End’s largest neighborhood beach cabana at the opposite end of the street. The house also is near an access point to the Lake Trail pedestrian-and-biking trail fronting the Intracoastal Waterway to the west.
Architect Roger Janssen of Dailey Janssen Architects designed the house, which was built by Custom Contractors Group. Both companies are based in West Palm Beach.
The Architectural Commission approved the design of the house in May 2023, Town Hall records show.
The house was originally intended designed as a custom home for longtime Palm Beach residents David and Diane Canepari, but their plans changed. Using an ownership company, the Caneparis sold the property — including the architectural plans — in April 2024 to the development team that eventually built the house.
The Caneparis own a house on West Indies Drive, about a 1½ miles south of the property they sold on Nightingale Trail, property records show.
This is a developing story. Check back for any updates.
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, call 561-820-3831 or tweet @PBDN_Hofheinz.
This article originally appeared on Palm Beach Daily News: New Palm Beach ‘spec’ house fetches $20.5M without ever being listed
Reporting by Darrell Hofheinz, Palm Beach Daily News / Palm Beach Daily News
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