The Hamptons, Beverly Hills, the Upper East Side, Star Island; a small number of communities across the nation conjure a standard of luxury for those who have never even travelled there, let alone those who know the landscape. Palm Beach, Florida, is but one of the distinct places in the world with a reputation that precedes it – a reputation that is in part based on one of the oldest adages in real estate, that is, location, is king.
Fred Latsko, a distinguished real estate businessperson, understands that while size is of the utmost importance amongst homebuyers, according to a recent survey conducted by Barclays Mortgages, location is imperative, especially when teamed with exclusivity. He notes that this is the case of Palm Beach, Florida, on Worth Avenue, in particular.
The Esteem of Palm Beach
The 12-mile-long barrier island of Palm Beach is situated between the Intracoastal Waterway and the Atlantic Ocean of southeast Florida. Luxury was an ambition of Palm Beach developers since early course – take the legendary Breakers Hotel, originally built by Henry Flagler in 1896, a feat of Renaissance architecture listed on the National Register of Historic Places, or the Mar-a-Lago Resort, a spectacular and thriving 17-acre members-only club fostered by the society doyennes of the 1920s. Moreover, Palm Beach’s standing is a presidential one, after all, one of its most famous designations is having been the “Winter White House” of John and Jacqueline Kennedy circa the early 1960s.
Real Estate Market
As a result of the in-built legacy of Palm Beach, it is no surprise that it has become a lightning rod for the real estate industry. Resident expert Fred Latsko recognized the singular nature of Palm Beach at the beginning of his 20-year career. Latsko established Latsko Interests, Chicago’s premier full-service real estate development and management company, with a purposefully varied high-end property roster in the Midwest, the West Coast, and of course, the Florida Coastline.
The Latsko Interests’ properties are also comprehensive in that they are located in major urban markets that run the gamut of residential homes, office buildings, apartment rentals, restaurants, retail, and industrial space. Nevertheless, the ethos of Latsko Interests has always been geared with a mind towards growth, a factor that has led to their continued concentration in the Palm Beach area. Fred Latsko’s thorough commitment to his property roll in Palm Beach township is based on his suggestion that a home’s location “remains absolutely vital to ensuring the success of an investment”. In this sense, location equates home value and a setting being desirable is based upon the sensations it eschews.
Luxury on Worth Avenue
The opulent style of living in Palm Beach is a perfect symbiosis of several elements. Of course, Palm Beach’s natural setting of swaying palm trees, white sand beaches, and crystal-clear waters is an absolute plus, but true luxury involves much more. While the concept of luxury can be vastly subjective, there are common facets in its understanding. Luxury involves uniqueness, aesthetics, premium quality, antiquity, and pleasure. All of those principles are at play in the very centre of Palm Beach: Worth Avenue.
Worth Avenue is a shopping and dining area that is internationally revered for its beauty, its history, and its unparalleled tradition of fine customer service. More than a shopping destination in South Florida, it becomes its own experience from the classic grace of its Mediterranean architecture to the bougainvillea that tumble over the stairwells of quaint tucked-away boulevards. Whether it’s a champagne break at a cozy bar, or a short walk on the beach, window shopping, art, and courtyard dining at its finest.
A shopping mecca, Worth Avenue represents the top-tier of lavish goods, rivalling Fifth Avenue in New York and Rodeo Drive in Beverly Hills. Worth Avenue’s stores range from the international design houses of Chanel and Gucci, to fine jewelry and home furnishings. Between the shops, you’ll find art galleries, beauty salons, stylish patio cafés, as well as fine dining establishments headed by world-class chefs. For those looking for cultural experiences, the area houses institutions like the Henry Flagler Museum, The Society of the Four Arts, and is even the host of internationally renowned art fairs, including January’s “Palm Beach Contemporary + Modern”.
Of course, the coastlines on either end of Worth Avenue allow for easy access to boating, fishing, and water sports. These leisure activities are only accentuated by Palm Beach’s plethora of exclusive members-only clubs, which offer five-star recreation across the board, including: polo, golf, and tennis facilities. The glowing social calendar of Palm Beach residents often includes charity functions, auctions, cotillion events, and galas alike, while the day-to-day activities associated with living in the neighborhood embrace indulgence, relaxation, and extravagance – all the tenets of idyllic living.
Final Thoughts from Fred Latsko
The impressiveness of Palm Beach is mirrored in the desirability of its real estate. Fred Latsko of Latsko Interests has identified that property accrual in Palm Beach, and in the Worth Avenue area specifically, is of prime interest to potential investors. Latsko’s projection is based on the prestige of this area, which is not “on the rise”, instead firmly cemented into it’s over 100-year history of promoting luxury.
The ultimate splendor of Palm Beach results in some of the most sought out real estate in the country – exquisite homes, oceanfront properties, condominiums, and the town’s great estate, all of which are second to none. Palm Beach offers exceptional real estate – and since the island is small, space is limited, and therefore, demand for Palm Beach homes and Palm Beach land is quite high.
Worth Avenue, which lies at the epicentre of Palm Beach, is very much an extension of Palm Beach’s standing, offering multimillion-dollar mansions in a serene natural setting with exclusive amenities and comforts located at the end of your driveway. Living in this Florida gem is like being on a perpetual vacation and this seemingly fantastical goal is made possible by all that Palm Beach has to offer; a truly utopic and important apex of luxury international real estate.