Real estate developer Michael Joseph and his wife, Roberta, have parted with the ultra-contemporary-style house they built for themselves on Ibis Isle’s lakefront in the South End of Palm Beach.
The sale price of the two-story house at 2288 Ibis Isle Road W. was reported Tuesday at $10.458 million in the local multiple listing service.
The deed was still making its way through the recording process Tuesday, so the buyer’s identity wasn’t yet known. It was also unclear if the price recorded in the MLS will match the one to be documented by the Palm Beach County Clerk’s office.
The Josephs completed their gated house about five years ago after buying the property for a recorded $1.5 million in June 2013 and razing a house there. The lot measures a little over a quarter-acre and faces 100 feet of waterfront on the west side of Ibis Isle.
With flat roofs and expansive walls of glass, the four-bedroom house has 5,655 square feet of living space, inside and out, including a two-car garage, records show.
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Equipped with “smart house” technology, the house was designed by architect Kyle Webb of Vail, Colorado, with a focus on indoor-outdoor living, according to the sales listing prepared by agents Joan Wenzel and Pamela Gottfried of Douglas Elliman Real Estate. They listed the house at $11.887 million March 15 and had it under contract within several days, according to the MLS.
Broker Lawrence Moens of Lawrence A. Moens Real Estate handled the buyer’s end of the sale, which closed Monday, the MLS shows. He couldn’t be reached for comment.
Materials used in the house include fine woods, exposed steel and concrete. The great room opens to a lakefront deck with a summer kitchen and an entertaining area facing the rear lawn, according to the sales listing.
At the front of the house is a water feature that empties into a 70-foot-long lap pool nearby. Avid art collectors, the Josephs commissioned a contemporary-style sculpture by Venezuelan artist Rafael Barrios for a spot by the front door.
With two of their three adult children married, the Josephs are making plans to upsize to a house in West Palm Beach to better accommodate family visits, Roberta Josephs said Tuesday.
The couple will miss Ibis Isle and the house they built there, she said.
“It’s bittersweet. This house was a labor of love for us,” she said, noting that it took about three years to build.
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The ownership of the house was structured so the Josephs shared it among themselves and two trusts in their names, property records show. They had the property homesteaded in the latest property tax rolls, records show.
Michael Joseph is president of Clover Management Inc. and Clover Construction Management Inc. of Williamsville, New York. He has overseen the purchase and development of apartment buildings and commercial space in New York, Pennsylvania, Indiana, Ohio and Kentucky, according to the companies’ website.
The Josephs have homes in Buffalo, New York, and outside Vail. Among their civic activities, the couple serves on the board of Buffalo’s Albright Knox Art Gallery, where Roberta Joseph serves on the acquisition committee.
Wenzel handled both sides of the 2013 sale when the Josephs bought the property. At the time, she was affiliated with the old Fite Shavell & Associates, which today is William Raveis South Florida.
This is a developing story. Check back for updates.