A boutique $50 million beachside development planned for Palm Beach’s blue-ribbon Jefferson Lane has chalked up its first sale, with a local family committing to a full-floor luxury residence.

Michael Kollosche, whose agency Kollosche has been tapped to lead the sales and marketing on Pescado, said the sale reinforced the depth of demand for ultra-luxury, low-density homes on the coast.

“Palm Beach has matured into one of the Gold Coast’s most tightly-held beachfront markets,” Mr Kollosche said.

“Boutique buildings with whole-floor apartments of this size, with this level of finish, privacy and amenity and car parking, are extremely rare.”

The $50 million boutique building, approved for 228–230 Jefferson Lane, will deliver just seven residences – six full-floor apartments and a two-level penthouse.

Priced from $5,995,000, each full floor features three bedrooms, three bathrooms, a powder room, multi-purpose room (or fourth bedroom), expansive ocean-facing balcony, three car spaces and private lift access. Residents will also enjoy a pool, gym, sauna, ice bath, lounge and BBQ terrace.

Since the project vision was first revealed earlier this year, YLB Developments – led by Paul and Chloe Fisher – has worked closely with BDA Architecture and Kollosche to refine the internal layouts and facilities to meet the needs of rightsizers, families and owner-occupiers.

The redesign has created a more functional floor plate, doubled the floor area of amenities for owners, added an extra basement for more car parking, and storage with every residence.

“It’s exciting to see the market responding to what will be an iconic development for Palm Beach,” said Mr Fisher. “Drawing on the expertise of local leaders in architecture, sales and construction on Pescado is a major advantage that’s now translating into real confidence in what we’re delivering here.”

The sale comes as the Fishers prepare for the birth of their second child, a sibling for Bobbi, 2. Chloe Fisher, who took inspiration from their global travels to influence the design direction of Pescado, said feedback had been overwhelmingly positive.

“After so much planning and refinement, it’s satisfying to see it all come together,” Mrs Fisher said. “People are genuinely excited by the look and feel of the full floors, they love the amenities and the location, and they appreciate the privacy that a truly boutique building affords.”

Gold Coast luxury builder HNKN, whose portfolio includes the award-winning Dahlia Estate in Tallebudgera Valley, is expected to start work on Pescado in the first half of 2026.

“With design finalised, a trusted builder appointed and early sales underway, buyers can have full confidence in the project’s progression,” Mr Kollosche said.

“With only five full-floor residences remaining, and with the increase in land and construction costs, it will be hard to ever match the exclusivity and lifestyle on offer at Pescado.”

Now selling – explore Pescado’s full floor apartments