A Palm Beach house under construction on a corner lot in the near North End has changed hands for $18.16 million, the priced recorded March 17 with the deed.
The sale marks the third time 264 Dunbar Road has sold within the past two years, property records show.
The property last changed hands — in an earlier stage of construction — about a year ago for a recorded $14.24 million. And a year before that, it sold with an 1950s-era house on it for $11. 2 million.
The two-story house that just sold while under construction was designed with six bedrooms and 7,227 square feet of living space, inside and out, according to town records.
Trusts were on both sides of the most recent sale. The seller was Lester E. Lipschutz, who acted as trustee of the 264 Dunbar Trust, the deed recorded March 17 shows. Lipschutz is a wealth- and estate-planning attorney at Cozen O’Connor, where the law firm’s website lists him at offices in Boca Raton, Philadelphia and New York.
The deed lists the seller’s mailing address in care of the Rabideau Klein law firm on Royal Palm Way in Palm Beach. Lipschutz had no comment about the sale.
A similarly named entity — the 264 Dunbar Road Trust — was on the buyer’s side, with attorney Alexander Kochman of the Kochman & Ziska law firm in West Palm Beach serving as trustee. Kochman declined to discuss the transaction.
Because of privacy rules governing trusts, no other information about anyone else directly connected with the two trusts was immediately available in public records.
The exterior walls are in place at the house on Dunbar Road, which stands on a lot of nearly a half-acre at the southeast corner of Bradley Place. The house architecture features West Indies-style elements.
The house had been listed at an in-construction price of $20.9 million by broker Christian Angle of Christian Angle Real Estate, who could not be reached for comment. His listing said the asking price would change as construction progressed.
Angle also handled the transaction for the buyer, who is expected to complete the residence, according to people familiar with the deal.
The sales listing said the house could be purchased “as is” and then customized by the buyer. The plans call for two open-air courtyards — one off the main living space and the other centered on the swimming pool and cabana.
The interior layout was designed with a double-height foyer that would open to the living room; a family room with a fireplace and wet bar; and a formal dining room with a wine storage. Other features would include an elevator and a three-car garage.
When the house changed hands in March 2025, it was sold by its original developer, former Palm Beach resident Lee Fensterstock. He has bought, renovated, built and sold a number of houses in town.
Fensterstock’s longtime real estate agents, Paulette Koch and Dana Koch of the Corcoran Group, handled both ends of the 2025 transaction.
Fensterstock bought the property — with a renovated 1953 house on it — in March 2024 using a limited liability company. Fensterstock later knocked down that house to make way for the new residence he planned to develop on speculation. When the property sold in 2024, it was listed by Dana Koch and his Corcoran Group colleague Allison Wren.
The town’s Architectural Commission in April 2024 approved plans for the new house, which was designed by Michael Perry of MP Design & Architecture in Palm Beach.
(This story was updated to add new information.)
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 “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 Post: Palm Beach house under construction sells for $18.16 million
Reporting by Darrell Hofheinz, Palm Beach Daily News / Palm Beach Post
USA TODAY Network via Reuters Connect
