100 El Vedado


What: 100 El Vedado.

Where: Palm Beach, Fla.

How (much): $21 million.

This 15,000-square-foot ocean-view home in the estate section of Palm Beach is an art lover's dream. Situated on nearly one acre at the corner of South Ocean Boulevard and El Vedado Way, the house was built in 2002 for Checker Cab heir David Markin and his wife Susan, but due to a divorce, the couple never occupied the home.

The Italianate Mediterranean home sits on 38,000 square feet of property with deeded access to a shared private beach across the boulevard. The home has five bedrooms, seven full bathrooms, five powder rooms, including a his and hers off the foyer, a three-car garage and an elevator.

Ocean-view rooms include the library, formal dining room with fireplace, formal living room with fireplace, kitchen, second-story master bedroom, her master bathroom, two second-story VIP suites, and a second-story lounge/gallery.

The master suite includes an exercise room with tower reading room, sauna and massage room with wet bar. A media/family room and a 41-foot enclosed air-conditioned loggia overlook the heated pool and fountains.

"The people who had 100 El Vedado built for them were avid art collectors," says Maryellen Cantera, the assistant to Corcoran Group broker Jim McCann, who has the listing. As you walk through the foyer of the home, you approach an 80-foot long gallery with 12-foot ceilings. "The walls and the lighting and the niches that are carved into the walls are all about displaying artwork," Cantera says.

Just like Malibu and Monaco, Palm Beach is one of the world's most affluent communities. Last year, billionaire Revlon ( REV) boss Ron Perelman sold his oceanfront mansion here for $70 million to Dwight Schar, chairman of NVR ( NVR), one of the country's largest homebuilders. Other residents of the island include Rod Stewart, Donald Trump, and Netscape founder Jim Clark.

Palm Beach is separated into three sections: the town area, near the shops; the north end, which is more family-oriented; and the estate section, where the properties are larger and the homes are grander. "The estate section has always been the prestigious place to be," Cantera says.

According to the Corcoran Group, there are currently nine homes for sale in the estate section of Palm Beach. Their listing prices range from $15 million to $32 million. Since August 2004, five homes have been sold for prices ranging from $9.5 million to $33.6 million.

The home at 100 El Vedado has been on the market since 2002 and was never occupied. David Markin, now 76, built the house on spec, with the plan of possibly moving into it with then-wife Susan and abandoning his other home in Palm Beach.

All This Could Be Yours

However, the couple split up in a contested divorce that ended up being settled in the courts. They split their $106 million marital fortune evenly, and among the assets David got to keep were the El Vedado house and another Palm Beach house, where he currently lives.

So why hasn't this beautiful home moved in three years? "There have been offers, there have been people who fell in love with it. It's just that the right situation hasn't come up," Cantera says.

In other words, it's not too late for you to stake a claim to this singular slice of "The Good Life."

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