A two-acre piece of land on Palm Beach is for sale at $200 million, translating to $2,403 per square foot. It's the only vacant lot on Florida's Billionaires Row that runs from the ocean to the Intracoastal Waterway. The sellers note its scarcity, with only 20 similar properties in Palm Beach. The land can accommodate two residences or a large compound and includes architect Richard Sammons' plans to expedite construction. The asking price marks a $50 million increase from last year, but brokers assert it's competitively valued amid local luxury transactions.
A two-acre patch of land on Palm Beach, just five minutes down the waterfront from Mar-a-Lago, is on the market for $200 million, which works out to about $2,403 per square foot of dirt.
In Palm Beach proper, there are only approximately 20 properties that expand from ocean to intracoastal, and this property is one of those few exclusive parcels.
There is no demolition needed, there is no remodeling needed, this property allows for first-time, ground-up, new construction.
William Lauder, of Estée Lauder riches, closed a deal on a comparable parcel just last week - according to The Wall Street Journal, the sale price hasn't been recorded yet.
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