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389 S Lake Drive, Palm Beach FL 33480

House For Sale
$7,980,000

BTC: 128.19532469

ETH: 4,742.37832056

28 days
Waterfront
3 bds
3 ba
2,443 sqft

Overview

Absolutely breathtaking panoramic views of the Intracoastal Waterway await from the expansive wraparound terraces of this exceptional penthouse, offering some of the finest vistas in Palm Beach. Rarely available, this elegant 3-bedroom, 3-bath residence lives like a private home and showcases timeless architectural details, including beautiful herringbone wood flooring throughout. Designed for both gracious entertaining and relaxed coastal living, every room opens to idyllic terraces with stunning water views. The handsome wood-paneled den, complete with a full bath and oversized walk-in closet, easily serves as a third bedroom or private office. Additional features include soaring ceilings, a spacious kitchen, impact sliding doors, and a convenient laundry closet. Ideally located at prestigious 389 South Lake, just one street from Worth Avenue, this remarkable residence is within walking distance to world-class shopping, fine dining, and the beach.

Location

Details

Type:
Residential
Parking:
Assigned / Awning / Covered / Deeded / Guest
Year Built:
1967
Lot:
1.55 Acres
Heating:
Central Individual A/C
Price/sqft:
$3,266
Cooling:
Central Individual A/C
HOA:
$10,500

Valuation

Our model vs. what's actually selling nearby.
Estimate
$726,975
$525K – $5.5M
Confidence Low
List vs. estimate
$7.3M above estimate
List $7,980,000 · +997.7%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Price per sq ft
$3,266
+622.4% vs. city median $452
Based on
18 MLS comparables
+ 30 public-records sales within 0.5 mi
Median actual sale: $2.4M
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$55,480
2025
HOA
$10,500/qtr
Pool
Community
View
Intracoastal View, Water
Waterfront
Intracoastal Front
Parking
1 spaces
Pets
Allowed
All facts and features
  • Flooring

    • Marble

    • Wood

    Heating

    • Central Individual A/C

    Cooling

    • Central Individual A/C

    Appliances

    • Electric Water Heater

    • Dishwasher

    • Disposal

    • Dryer

    • Ice Maker

    • Microwave

    • Electric Range

    • Refrigerator

    • Self Cleaning Oven

    • Wall Oven

    • Washer

    Other interior features

    • Lobby

    • Built-in Features

    • Fire Sprinklers

    • Entrance Foyer

    • Pantry

    • Split Bedroom

    • Walk-In Closet(s)

    • Storage

    Bedrooms and bathrooms

    • Bedrooms: 3

    • Full bathrooms: 3

  • Parking

    • Assigned

    • Awning

    • Covered

    • Deeded

    • Guest

    Property

    • Levels: 6

    • Pool Private: Yes

    • Exterior Features: East Of Us1 / Balcony

    Lot

    • Lot: 1.55 Acres

    Other Property Information

    • Parcel Number: 50434327630006020

    • Zoning: R-D(2) (city)

  • Type and style

    • Property Type: Residential

    • Property Sub Type: Stock Cooperative

  • Utility

    • Cable Connected

    • Electricity Connected

    • Sewer Connected

    • Cable Available

    • Electricity Available

    • Sewer Available

    • Water Available

  • Other financial information

    • HOA: $10,500

    • HOA Frequency: Quarterly

    • Annual tax amount: $55,480

  • Source details

    • MLS ID: B26027444

    Other facts

    • Construction Materials: CBS Construction

    • Laundry Features: Common Area

    • Lot Features: 1 To Less Than 2 Acre Lot / East Of US 1

    • Pool Features: Community

    • Window Features: Complete Impact Glass / Blinds / Drapes / Sliding / Verticals

    • Direction Faces: Southwest

    • Other Structures: Livable

    • Architectural Style: One Story

    • Waterfront: Yes

    • Living Area: 2443

    • Water Source: Public

    • Subdivision Name: THREE EIGHTY NINE CORP LES

Private inquiry
Talk to the advisor on this listing.
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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: Brown Harris Stevens of PB