206 Phipps Plaza, Palm Beach, FL 33480

Significance

The original structure is attributed to Marion Sims Wyeth and was built for J. Ledlie Hees, with published accounts placing construction in 1925 and 1926 and the county appraiser record showing 1926. From 1947 onward the architect John L. Volk and his wife Jane Kinney Volk made the property their home and his architecture office, 2 buildings joined by an atrium. The house stands within Phipps Plaza, financed by John S. Phipps beginning in 1924 as Circle Plaza and designated in 1982 as the Town's first local historic district. Volk's earlier residence, White Gables, was separately landmarked in 1990 and is a different property. The house was relisted at $39,000,000 in May 2025 and sold on 18 August 2026 for $27,500,000.

Documented timeline

1. 1924

   Circle Plaza financed by John S. Phipps

   John S. Phipps financed the development of Circle Plaza, later known as Phipps Plaza, beginning in 1924.[3]

2. 1925 or 1926

   Built for J. Ledlie Hees

   The house was built for J. Ledlie Hees, a railroad executive and the first president of Adirondack Power and Light Company, to a design by Marion Sims Wyeth. Published accounts give both 1925 and 1926, and the county appraiser record shows 1926.[1][2]

3. 1947

   Home and office of John L. Volk

   From 1947 onward the architect John L. Volk and his wife Jane Kinney Volk made Casa de los Arcos their home and his architecture office, in 2 buildings joined by an atrium.[6]

4. 1982

   Phipps Plaza designated a local historic district

   Phipps Plaza was designated the Town of Palm Beach's first local historic district in 1982. No separate individual landmark designation for this address was found.[3][5]

5. 2025

   Relisted at $39,000,000

   The house returned to the market on 13 May 2025 at an asking price of $39,000,000.[2]

6. 2026

   Sold for $27,500,000

   The sale closed on 18 August 2026 at $27,500,000, with Jim McCann of Premier Estate Properties as the listing agent. Two headlines from the same publication round the figure to $27,000,000 and $28,000,000 while the body text states $27,500,000.[7][8]

Ownership of record

Parcel data records the pre sale owner as 206 Phipps Plaza LLC. Press reporting describes the seller as an entity managed by Thomas J. Morrison and the buyer as 206 Phipps Plaza Trust, with Scott Hoffman as trustee. Jim McCann of Premier Estate Properties is reported as the listing agent; no buyer side broker is identified in the sources reviewed. Current occupants are not identified; this dossier describes recorded and reported transactions only.

Current status

Sold 18 August 2026 for $27,500,000, per The Real Deal reporting. Two headlines from that publication round the price to $27,000,000 and $28,000,000; the body text states $27,500,000.

Buyer diligence

• The property lies within the Phipps Plaza local historic district, so exterior alteration, addition, and demolition are subject to review by the Town of Palm Beach Landmarks Preservation Commission. Confirm the district's review standards, and whether any individual designation also applies, with the Town before underwriting a renovation.
• The Town of Palm Beach administers an ad valorem tax exemption for qualifying rehabilitation of landmarked property. Whether this house and a specific scope of work qualify is a question for the Town; confirm eligibility, application timing, and procedure directly with it.
• Obtain the current FEMA flood zone determination, the base flood elevation, and any existing elevation certificate for the parcel before pricing insurance or a renovation.
• If the parcel carries lake or ocean frontage, commission an independent condition assessment of the seawall or bulkhead and confirm ownership and maintenance responsibility for it.
• Sources differ on the year built, 1925 in some published accounts against 1926 in Robb Report and the county record. Reconcile both against Town of Palm Beach permit history, which should also document the scope of the John L. Volk remodeling.
• The parcel control number shown here comes from a third party mirror of county appraiser data. Confirm it, and the legal description, directly with the Palm Beach County Property Appraiser.

What the record cannot show

• Beneficial owners behind trusts and limited liability companies. Recorded parties such as 206 Phipps Plaza LLC and 206 Phipps Plaza Trust name the vehicle, not the individuals behind it.
• Condition and renovation cost. Neither the deed nor the appraiser's record reports the quality of the work performed or what it cost.
• Unrecorded off market negotiations. Offers, withdrawn contracts, and private terms leave no public trace.
• Interior alterations that did not require a permit. Work of that kind does not appear in Town permit history.