Updated April 26, 2026 — Palm Beach
Developer Mosie Miller and his wife Michelle closed the sale of their newly built lakefront residence at 1246 North Lake Way on Wednesday, April 22, for $30,822,532.50, according to the recorded deed. The 6,900-square-foot home, which carries a deep-water dock and direct lake-trail access, sold roughly 42.5 percent above the $21,625,000 the Millers paid for the underlying property in June 2023. Margit Brandt of Premier Estate Properties represented the buyer; Christian Angle of Christian Angle Real Estate held the listing.
The transaction is the second-largest April 2026 closing on the island of Palm Beach proper, behind the $105 million Manalapan oceanfront land deal completed by the WeatherTech MacNeils on April 15. It also marks the first closed lakefront new-build above $30 million on Palm Beach in 2026 — a category that has been thin on inventory since the post-2021 absorption cycle pulled most of the buildable lakefront parcels out of circulation.
The number on a square-foot basis
At $30,822,532.50 across 6,900 square feet, the all-in price prints to roughly $4,467 per square foot. That figure sits at the upper end of the recent Palm Beach lakefront new-build trade range and is consistent with where Premier Estate Properties and Christian Angle have been pricing finished lakefront product in the current cycle. The deep-water dock plus direct lake-trail frontage is the differentiator that supports the upper-band print. The premium is a clean read on what the deep-water dock plus lake-trail frontage carries in current pricing.
For a property held three years through entitlement, vertical construction and finish-out, the 42.5 percent return on the land basis is consistent with the developer-spec margin Palm Beach has been printing on completed inventory through 2025 and into 2026. Land carry costs, construction inflation through the 2024-2025 window, and finish-grade specification all compressed margins on speculative lakefront builds; a $9.2 million gross spread on a single lakefront unit is on the lower end of the modern Palm Beach spec window but still inside the discipline band.
What this means for the broader Palm Beach pricing curve
The April 22 closing adds to a thin run of high-dollar North Lake Way trades over the past two years. Inventory on the lakefront stretch between Wells Road and Country Club Road remains among the tightest residential supply on the island — fewer than a dozen buildable parcels remain undeveloped, and substantially all completed product is held by long-tenure owners with no current sale motive. That structural scarcity is what lets new-build trades like 1246 print 8-to-10 percent above the prior-year mean even as Palm Beach’s broader Q1 2026 sales velocity moderated from the 2022-2023 peaks.
Behind the Hedges and The Real Deal first reported the closing this week. Premier Estate Properties confirmed the buyer-side representation. The deed was recorded with the Palm Beach County clerk on April 22.
What’s queued behind it
The Palm Beach island spring closing calendar still carries two single-asset trades above $25 million expected to clear before Memorial Day, per multiple Premier Estate Properties and Christian Angle listings currently in contract. Combined with the $105 million MacNeil land trade and Tonio and Rebecca Arcaini’s $35.1 million Manalapan oceanfront sale on April 13, the April-May 2026 window is on track to be the highest-dollar Palm Beach island residential close cycle since the spring 2022 peak.
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