Billionaire Jeff Greene has sold the historic Palm Beach Main Post Office building to The Breakers, marking a significant real estate deal in the heart of the island. The off-market sale, recorded at $28 million on December 26, 2024, strengthens The Breakers’ growing presence along the Royal Poinciana Way district, where the resort has been quietly expanding its footprint for over a decade.
Greene, a Palm Beach resident, initially purchased the 1936 Mediterranean-style building for $3.725 million in 2011 (meaning that the property was sold for over 7.5 times Greene’s original purchase price 13 years earlier). He preserved its grand lobby with iconic murals by artist Charles Rosen, while using the rest of the space for his own business offices. The building, once a post office, had not served its original function for more than ten years after the post office relocated to the nearby Royal Poinciana Plaza in 2011.
According to a statement by The Breakers to the Palm Beach Daily News, the purchase of the 13,932-square-foot building represents the final piece in The Breakers’ seven-year effort to revitalize Palm Beach’s historic Main Street. Since 2010, The Breakers and its affiliated companies have spent over $100 million acquiring properties in the district.
The new acquisition sits just a block from the ocean, positioned on a half-acre lot that overlooks Royal Poinciana Way and the Flagler Memorial Bridge. The building is protected by landmark status and is included in the National Register of Historic Places, which means its exterior and historic interior features—including the murals and its marble lobby—are safeguarded from significant alterations without approval. This ensures the building’s historic charm will remain intact.
While the exact plans for the Palm Beach Main Post Office building are still under review, The Breakers intends to preserve the property’s historical features and integrate it into their larger vision for the neighborhood. This sale further underscores The Breakers’ dedication to both preserving and expanding Palm Beach’s rich architectural heritage while ensuring the continued growth of its world-class resort in the community.
