Situated on two acres of ocean frontage, this 17,800 square foot Palm Beach house recently listed for $54 million; it contains seven bedrooms and 10 full or partial baths. The asking price represents a considerable potential profit for the owner, who purchased it in 2012 for $41.5 million.

A Mediterranean style boasting loggias, neoclassical pediments with bull’s eye windows, and a palm-dotted setting, the home is nicely designed to take full advantage of the Floridian breezes and sunlight. The entry living room ceiling, vaulted and sky lit, offers a tremendous sense of liberation, and the kitchen’s dimensions are extended with floor to ceiling cabinetry to enhance the sense of space. The home’s great room is large enough to entertain larger groups, and features a ceiling with molded accents. Oversized windows, and French doors, open onto the loggias and lawns.

The master bedroom features a retractable glass wall which opens to a portico, and the property beyond; a glass door on an adjacent wall offers another exit. A pool and pool house, with sweeping views of the grounds and ocean, sits in one corner of the property. The land has been tastefully landscaped to highlight privacy, and to enhance the property as a tropical retreat. The home is accessible through a gated entrance.

Palm Beach luxury property values are reportedly rebounding somewhat; the asking price of this offering reflects the trend toward cautious optimism.