Is The Enclave a Good Investment?

Buyer Intelligence

Is The Enclave a Good Investment?

Nikko Karki
Nikko Karki November 5, 2026
The Enclave holds the island's most legible renovation margin: entry trades near two million and renovated lines recorded to $5M, under one 1985 roof on the south end row. The investment question is not whether the margin exists, the ledger settles that. The question is whether a specific line, budget and association calendar let a buyer actually capture it.
Recorded closings
4
Two years, charted below
Median price
$2.1M
Recorded closings, same window
Median $ / SqFt
$808
Recorded closings
Recorded record
$5M
A renovated line

The Case

The case is arithmetic at kitchen table scale. Buy an original line at the building's entry, renovate at current island rates, and the total still lands under the recorded ceiling for finished product. The margin pays for serious work with room left, and the Palm Beach address underneath holds the floor. Few buildings anywhere on the island quote the spread this plainly.

The Record

The trades below are few and split cleanly by condition, original lines near the entry and finished lines near the ceiling at $808 per square foot blended. The spread between those two groups is the whole investment, visible in four lines of records.

The Enclave's trades
Recorded closings by six month window, November 2024 through October 2026

BeachesMLS recorded closings, board twins deduplicated.

The Enclave by six month window
Recorded closings by six month window
← Scroll to see all columns →
WindowClosingsMedian$ / SqFt
Nov 2024 to Apr 20251$2.1M$904
May to Oct 20250None recorded
Nov 2025 to Apr 20261$2.1M$712
May to Oct 20262$3.2M$1,144

BeachesMLS recorded closings, board twins deduplicated. Medians inside thin windows are directional.

The Entry Points

The entry to want is the worst line with the best bones: original condition, a workable plan and no structural surprises. Renovated lines are the exit comp rather than the entry. Buyers who cannot carry a renovation should buy the finished line and accept the margin going to the seller who did the work.

The Risks

The 1985 paper is the risk concentrate. Reserves, concrete milestones and the assessment pipeline decide whether the entry price is a bargain or a down payment on the building's deferred work. Renovation approvals and logistics add time, and carrying two years of dues while building eats margin. The spread is real but it is earned, not free.

The Hold Math

The hold math has two profiles. The renovator captures the spread in two to three years and keeps a finished island residence at below replacement basis. The buy-and-hold owner rides the island's entry point upward as the row around it reprices. Both profiles depend on the association's paper staying boring, which is the item to verify first.

Bottom Line

The Enclave offers the island's clearest recorded spread, entry near two million against a $5M ceiling in the same stairwell. The investment case is the renovation margin with the address as the floor. Read the association's paper first, and the rest is budget discipline.

The underwriter's line on The Enclave: the margin is earned in the association documents and the renovation budget, never in the purchase price alone.

Every figure is a BeachesMLS recorded closing at 3170 South Ocean Boulevard from November 2024 through October 2026, board twins deduplicated. Medians on few trades are directional and labeled so. Building facts follow the public record: 72 residences across north and south buildings from 1985.

Nothing here is individual investment advice. The figures describe a recorded market, and any purchase decision should weigh personal horizon, carrying costs and the condition of the specific property.

BeachesMLS recorded closings via our licensed feed, pulled November 5, 2026.

Nikko Karki
Written by

Nikko Karki

Nikko Karki has worked in real estate for nearly two decades, beginning on the developer side at Related Group in West Palm Beach, then through private real estate investments and cross-border M&A across the U.S., Europe, and Southeast Asia. He holds an M.Sc. in economics from the Helsinki School of Economics. He built Palm Beach Luxury to make his analysis available to anyone in the market, for free.
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Frequently Asked Questions
The recorded case is the renovation margin: entry near two million, finished lines at $5M, and the spread wide enough to fund the work with room left.
The 1985 association paper. Reserves, inspections and the assessment pipeline decide whether the entry price is a bargain.
Renovators should buy original with good bones. Buyers who cannot carry construction should buy finished and accept the margin going to the seller.
Its recorded trades near two million are the lowest recurring prices on the Palm Beach oceanfront row.
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