Hurricane Matthew is now expected to make landfall around Palm Beach, Florida. If that happens, its economic toll will include some of the most expensive real estate on the planet.
The average home price in Palm Beach topped $7 million in the second quarter, according to Douglas Elliman and Miller Samuel — believed to be the highest in Florida. And town tax records show that the total value of real estate in Palm Beach County is north of $140 billion.
But those numbers obscure the true scale of many of the homes in the town of Palm Beach, which include several homes valued at more than $100 million.
The highest-profile property in Palm Beach, of course, is Donald Trump's Mar-a-Lago. While the premises have a beach club that could suffer damage, the main property is a hulking mansion built from concrete, steel and anchored to a coral reef below ground. According to the Palm Beach Daily News, Mar-a-Lago has withstood hurricanes going back to the 1920s, with very little damage.
The big test will be for the newer mega-mansions in Palm Beach. Among the most prominent homes are Nelson Peltz's 13-acre estate, valued by some at more than $200 million. The compound, on North County Road, features a main house with more than 47,000 square feet.