Vacant Lot in Palm Beach Sells for $8.3 Million
According to Palm Beach County property records, the Swiss owners of a Palm Beach mansion sold the vacant lot next door for $8.3 million.
The half-acre vacant lot was purchased by 488 Island Drive LLC, a company affiliated with luxury homebuilders, Malasky Homes.
According to the Palm Beach Daily News, the family originally purchased the lot along with the mansion for an additional $1.4 million in an effort to preserve their eastward views.
While the mansion, which is also being sold, was originally marketed with the lot for a grand sum of $33.9 million, the listing was removed after two years along with an added price reduction of $4 million.
The home sits on the northern tip of Everglades Island at 482 Island Drive. It includes five bedrooms, five bathrooms and also has 400 feet of waterfront.