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Vacant lot brings nearly $40 million on SW corner of Everglades Island in Palm Beach
A limited liability company bought the waterfront property of nearly an acre at 757 Island Drive, which last changed hands for about $18 million in 2016.
Palm Beach Daily News
A Palm Beach couple has parted with a prominent corner lot on the southwest tip of Everglades Island for a recorded $39.5 million or $21.36 million more than the property last sold for in 2016.
The lot measures about nine-tenths of an acre, and the deal is likely the most expensive sale ever of a Palm Beach vacant lakefront lot of its size, according to courthouse records.
When it comes to big-dollar deals in Palm Beach, this season saw an abundance of riches.
Between Oct. 1 and Thursday, 38 sales closed at prices recorded at $17 million or higher. In the same period last year, just 12 deals landed in that price category 13 if you record a property that sold for $16.9 million.
This season also saw six sales record at between $30 million and $40 million, while another nine deals hit prices even higher.
Here’s a rundown of the sales including two that involved vacant lots recorded at more than $40 million this season. Unless otherwise noted, the prices are the ones documented by the Palm Beach County Clerk’s office.
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Two next-door vacant lots bring $40.25 million on Palm Beach’s Maddock Way
The properties, one with lake frontage, were sold by companies linked to billionaire Mitchell Jacobson, records show. The buyer was a Delaware-registered limited liability co.
Palm Beach Daily News
Two adjacent properties on Maddock Way one with lake frontage that have sat vacant since they last sold together in 2013 have changed hands privately for a grand total recorded at $40.25 million.
The simultaneous sales to the same buyer mark the second deal within a week in which a vacant lakeside property in Palm Beach has changed hands at more than $40 million.