Waterfront Palm Beach lots sells for combined $30M
The owners of a waterfront lot in Palm Beach split their property in half and sold both parcels for a combined $30 million, records show.
A 2.3-acre oceanfront lot on North Ocean Boulevard that once held an 18,200-square-foot mansion was sliced in half and sold for an even $14.57 million each, according to the Palm Beach Daily News. Spec home developer Pat Carney bought the northern lot at 905 North Ocean Boulevard, and PBB Island Property LLC bought that southern lot at 901 North Ocean Boulevard.
Carney, CEO of Claremont, has said he plans to build a spec home on the property. In 2015, he sold the spec home at 390 North Lake Way for $31 million.
Clark Beaty proposed to develop a house on the second lot on North Ocean Boulevard, according to the newspaper.
The sellers, Frederick Friedman, Roger Berkowitz and Rhonda Berkowitz, are listed as trustees of the Lorraine L. Friedman Revocable Trust. Records show the late philanthropists Jack N. Friedman and Lorraine Friedman bought the house in 1994 for $5.5 million. The property was put on the market for $38 million in 2012, and was listed as high as $41.9 million.
Corcoran Group’s Jim McCann represented the sellers. Claremont represented the buyers.
[Palm Beach Daily News] – Amanda Rabines
Source: The Real Deal