389 S Lake Drive Phb, Palm Beach, FL 33480

New Listing

$7,980,000

Virtual Tour

https://www.propertypanorama.com/389-S-Lake-Drive-Phb-Palm-Beach-FL-33480/unbranded

Property Type: Residential Bedrooms: 3 Baths: 3 Square Footage: 3,337 Status: Active

Current Price: $7,980,000 List Date: 5/12/2026 Last Modified: 5/14/2026

Overview

Description

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

Supplements: 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.

Listing Details MLS# B26027444

General Property Information

Unit Floor #: 6
Property Sub Type: Stock Cooperative
Bedrooms Total: 3
Bathrooms Total: 3
Bathrooms Full: 3
Building Area Main: 3337
Building Area Source: Other
Living Area Main: 2443
Living Area Source: Other
Accessibility Features YN: No
Year Built: 1967
Parking Total: Yes
Gated Community YN: No
Lot Size Area: 67570
Lot Size Acres: 1.55
Senior Community YN: No
Land Lease YN: Yes
Waterfront YN: Yes
Outdoor Living Spaces YN: Yes
Stories Total: 6
Stories: 6
Direction Faces: Southwest
Fireplace YN: No
Pool Private YN: No
Furnished: Unfurnished
Washer/Dryer Allowed YN: Yes
LP/Assessed Value: 2.48

Property Features

Association Amenities: Maintenance; Security Association Fee Includes: Cable TV; Common Areas; Common Real Estate Tax; Elevator; Insurance; Legal/Accounting; Maintenance Grounds; Maintenance Structure; Pest Control; Pool Service; Reserve Funds; Security; Trash Dining Area: Dining/Living Room Flooring: Marble; Mexican Tile; Wood Parking Features: Assigned; Covered; Deeded; Guest Property Condition: Resale Special Listing Conditions: Standard Appliances: Dishwasher; Disposal; Dryer; Electric Cooktop; Electric Range; ENERGY STAR Qualified Refrigerator; Freezer; Ice Maker; Microwave; Oven; Refrigerator; Washer; Water Heater; Cooktop Water Heater Details: Electric Water Heater Architectural Style: Traditional Construction Materials: CBS Cooling: Central Individual Association Type: Co-Op Heating: Central Individual Interior Features: Bedroom Layout - Split; Built-in Features; Entrance Foyer; Pantry; Storage; Walk-In Closet(s) Laundry Features: Laundry Closet Levels: One Listing Terms: Cash Main Living Area: Entry Level Pets Allowed YN: Yes Pets Allowed: Dogs OK; Pet Restrictions Possible Possession: Close Of Escrow Restrictions: Buyer Approval Required; No Smoking Road Frontage Type: City Street; East of US-1 Road Responsibility: Public Maintained Road Roof: Other Security Features: Building Security; Entry - Phone/Intercom; Fire Alarm; Fire Sprinkler System; Lobby - Attended; Security Lights; Security System; Security System Owned; Smoke Detector(s) Sewer: Public Sewer Special Information: Sold As-Is Sprinkler Description: Auto Sprinkler Structure Type: Multi Family Tax Information: City/County Utilities: Cable Available; Electricity Available; Sewer Available; Water Connected View: Water Water Source: Public Water View: Intracoastal; Marina Waterfront Features: Intracoastal Window Features: Blinds; Drapes; Sliding; Storm Window(s) Showing Requirements: Appointment Only; Call Listing Agent; Call Listing Office; Listing Agent Must Accompany; Vacant Outdoor Living Spaces: Balcony Balcony Details: Balcony - Covered Room Types: Kitchen; Living Room; Master Bedroom Acreage Description: 1 To Less Than 2 Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 7980000
Listing Service: Full Service

Location and Legal

Country: United States
County Or Parish: Palm Beach
Street Number: 389
Street Direction Prefix: S
Street Name: Lake
Street Suffix: Drive
Unit Number: Phb
Municipality Type: Incorporated
Municipal Code: 50
State Or Province: FL
Postal Code: 33480
Postal Code +4: 4567
Subdivision Name: THREE EIGHTY NINE CORP LESSEE
Area: 5002
Geographic Area: PB30
Elementary School: Palm Beach Public
High School: Forest Hill
Special Assessment YN: No
Parcel Number: 50434327630006020
Subdivision Number: 63
Zoning: R-D(2) (city)
Flood Zone: AE
Directions: On S. Lake Dr. on Intracoastal on corner of Peruvian Avenue

Financial Information

Association YN: Yes
Association Deposit YN: No
Association Fee: 10500
Association Fee Frequency: Quarterly
Association Membership: Mandatory
Association Email: 389frontoffice@gmail.com
Master Association YN: No
Estimated Monthly Assoc Recurring Fee: 63350
Membership Fee Required YN: No
Tax Annual Amount: 55480.63
Tax Year: 2025
Tax Assessed/SOH Value: 3221020
Tax Legal Description: THREE EIGHTY NINE CORP LESSEE PENTHOUSE B
Assessor Market Value: 4300000

Status Change Information

Major Change Timestamp: 2026-05-12T15:55:49Z
Major Change Type: New Listing
Status Change Date: 2026-05-12

More Information

Boat and Dock Information

Dock: No

Land Lease Information

Land Lease Amount: 179550
Land Lease Amount Frequency: Quarterly
Land Lease Expiration Date: 2058-01-01
Land Lease Remarks: N/A

Main Level Rooms

Main Level Bathrooms: 3
Main Level Bedrooms: 3

Pet Details

Pet Fee YN: No
Other Pet Restrictions: 1 pet 25 lbs. max

Storm Protection

Impact Glass: Complete

Showing Details

Pet(s) on Premises: No

Price Calculations

Current Price To SqFt: 3266.47

Originating Details

Originating System Key: 20260508170834046214000000
Originating System ID: M00000170

Office/Member Information

DXORIGMLSID: RML

Amenities

Bike Storage: Yes
Community Room: Yes
Elevator(s): Yes
Heated Pool: Yes
Laundry: Yes
Lobby: Yes
Management: Yes
Manager On Site: Yes
Parking: Yes
Pool: Yes
Sidewalks: Yes
Street Lights: Yes
Trash Chute: Yes

Association Amenities

Maintenance: Yes
Security: Yes

Association Fee Includes

Cable TV: Yes
Common Areas: Yes
Common Real Estate Tax: Yes
Elevator: Yes
Insurance: Yes
Legal/Accounting: Yes
Maintenance Grounds: Yes
Maintenance Structure: Yes
Pest Control: Yes
Pool Service: Yes
Reserve Funds: Yes
Security: Yes
Sewer: Yes
Trash: Yes

Dining Area

Dining/Living Room: Yes

Flooring

Marble: Yes
Mexican Tile: Yes
Wood: Yes

Parking Features

Assigned: Yes
Covered: Yes
Deeded: Yes
Guest: Yes

Property Condition

Resale: Yes

Special Listing Conditions

Standard: Yes

Structure Type

Multi Family: Yes

Possession

Close Of Escrow: Yes

Sewer

Public Sewer: Yes

Special Information

Sold As-Is: Yes

Utilities

Cable Available: Yes
Electricity Available: Yes
Sewer Available: Yes
Water Connected: Yes

View

Water: Yes

Heating

Central Individual: Yes

Sprinkler Description

Auto Sprinkler: Yes

Water View

Intracoastal: Yes
Marina: Yes

Window Features

Blinds: Yes
Drapes: Yes
Sliding: Yes
Storm Window(s): Yes

Appliances

Dishwasher: Yes
Disposal: Yes
Dryer: Yes
Electric Cooktop: Yes
Electric Range: Yes
ENERGY STAR Qualified Refrigerator: Yes
Freezer: Yes
Ice Maker: Yes
Microwave: Yes
Oven: Yes
Refrigerator: Yes
Washer: Yes
Water Heater: Yes
Cooktop: Yes

Construction Materials

CBS: Yes

Interior Features

Bedroom Layout - Split: Yes
Built-in Features: Yes
Entrance Foyer: Yes
Pantry: Yes
Storage: Yes
Walk-In Closet(s): Yes

Laundry Features

Laundry Closet: Yes

Levels

One: Yes

Listing Terms

Cash: Yes

Road Frontage Type

City Street: Yes
East of US-1: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Other: Yes

Security Features

Building Security: Yes
Entry - Phone/Intercom: Yes
Fire Alarm: Yes
Fire Sprinkler System: Yes
Lobby - Attended: Yes
Security Lights: Yes
Security System: Yes
Security System Owned: Yes
Smoke Detector(s): Yes

Water Source

Public: Yes

Waterfront Features

Intracoastal: Yes

Water Heater Details

Electric Water Heater: Yes

Architectural Style

Traditional: Yes

Cooling

Central Individual: Yes

Association Type

Co-Op: Yes

Showing Requirements

Appointment Only: Yes
Call Listing Agent: Yes
Call Listing Office: Yes
Listing Agent Must Accompany: Yes
Vacant: Yes

Main Living Area

Entry Level: Yes

Master Bedroom/Bath

Separate Shower: Yes
Separate Tub: Yes

Pets Allowed YN

Yes: Yes

Pets Allowed

Dogs OK: Yes
Pet Restrictions Possible: Yes

Restrictions

Buyer Approval Required: Yes
No Smoking: Yes

Tax Information

City/County: Yes

Outdoor Living Spaces

Balcony: Yes

Balcony Details

Balcony - Covered: Yes

Room Types

Kitchen: Yes
Living Room: Yes
Master Bedroom: Yes

Acreage Description

1 To Less Than 2 Acre Lot: Yes

Room Information

Room Name
Kitchen
Living Room
Master Bedroom

Listing Office: Brown Harris Stevens of PB

Last Updated: May - 14 - 2026

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389 S Lake Drive Phb, Palm Beach, FL 33480 (MLS# B26027444)