$200M Asking Price for “Trophy Lot” On Billionaires Row
Provided by Palm Beach real estate lawyers at Rabideau Klein
Key Points
- The headliner sale in the Town of Palm Beach last month was the $200 million listing for a vacant lot on Billionaires Row that stretches from the Intracoastal Waterway to the Atlantic Ocean.
- The number of luxury condo sales during the last three months ran neck and neck as compared to last year at the same period of last year at 35 and 36.
- Groundbreaking is soon to begin at 1800 S. Ocean Boulevard, for which a $4.2 million permit was pulled on February 12th.
Palm Beach made local and national headlines last month when a sea-to-sea “trophy” property entered the market for $200 million on Billionaires Row in Palm Beach. The address, 1980 S. Ocean Boulevard, which is also referred to as Sloan’s Curve, abuts some of the most prestigious mansion estates on the island.
The median price of Palm Beach’s luxury niche of price points at $1 million or higher saw an increase during the last three months. The period’s sales drove the average up by 43% to $2.79 million as compared to the same time last year.