Vacant lot in Palm Beach sells for $17.59M

910 S Ocean Blvd in Palm Beach (Credit: WoollyMammothPhoto-com)

A vacant lot on South Ocean Boulevard in Palm Beach measuring almost one acre traded for $17.59 million.

The buyer was a company with a mailing address in Alexandria, Virginia, matching that of DC Capital Partners, a private equity investment firm.

The seller was a company controlled by Lifton Green LLC.

The lot at 910 South Ocean Boulevard includes a parcel east of the boulevard with approximately 130 feet of oceanfront.

Plans for construction of a six-bedroom, Mediterranean-style house on the lot won approval from the Palm Beach Architectural Commission in September.

The lot is located in an area closed to through traffic when President Trump visits his Mar-A-Lago resort in Palm Beach.

Corcoran Group agents Brad and Pam Miller represented the buyer in the transaction.

Fite Group agents Martin Conroy and Dean Stokes had the listing for the lot. [Palm Beach Daily News] – Mike Seemuth

Therealdeal.com