Rare ocean-to-intracoastal property at Palm Beach near Mar-a-Lago is now among the priciest properties for sale in U.S; here's its whopping price
Palm Beach's ‘Billionaire's Row’ has been recently and reportedly listed for $200 million, reported New York Post.
According to New York Post, the property which is located at the 1980 South Ocean Boulevard and has nearly a two acre parcel is now the only available vacant lot in Palm Beach with both ocean and Intracoastal frontage. It should be also noted that Shelly Newman of The Corcoran Group is representing the property.
The property which was once owned by Alfred P. Sloan Jr. actually offers a unique opportunity for ground up construction while the irregularly shaped lot includes 1.29 acres with Lake Worth frontage, 0.47 acres of submerged land and a 0.98 acre parcel with approximately 150 feet of ocean frontage. Adding onto that, concept drawings for an Italian style mansion with a guest house by Fairfax & Sammons are available, though at the same time, Architectural Commission (ARCOM) approval is still needed and the property can also be divided to create two separate houses, asserted New York Post.
Shelly Newman of the Corcoran Group attributes the severely high price to the increased attention to Palm Beach while the recent Manalapan property asking $285 million and William Lauder's near $200 million deal for Palm Beach land. The lack of need for demolition or remodeling is also a proper selling point while the property is located just five minutes from the Mar-a-Lago.
Now, if it is sold for $200 million, the property would actually break all records as no Palm Beach parcel has ever sold for that
