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Vacant lot brings nearly $40 million on SW corner of Everglades Island in Palm Beach
A limited liability company bought the waterfront property of nearly an acre at 757 Island Drive, which last changed hands for about $18 million in 2016.
Palm Beach Daily News
A Palm Beach couple has parted with a prominent corner lot on the southwest tip of Everglades Island for a recorded $39.5 million or $21.36 million more than the property last sold for in 2016.
The lot measures about nine-tenths of an acre, and the deal is likely the most expensive sale ever of a Palm Beach vacant lakefront lot of its size, according to courthouse records.
Moens’ marketing materials described the house as “an oceanfront residence of unparalleled quality and timeless appeal.”
Property last sold in 2001
Edward Watkins formerly owned Simplex Time Recorder, a Massachusetts company started by his grandfather. Watkins expanded the company into fire alarms and security systems, and sold it for $1.2 billion to Tyco International in 2000, according to news reports at the time.
The Watkins trust paid a recorded $17.68 million for the South Ocean Boulevard property in 2001, according to property records. Crews demolished a seven-year-old house there to accommodate the mansion that just sold.
The Watkinses have a lakefront Georgian-style house at 735 Island Drive on Everglades Island, which they bought in October 2017 for a recorded $23.8 million using an ownership company, property records show.
When it comes to big-dollar deals in Palm Beach, this season saw an abundance of riches.
Between Oct. 1 and Thursday, 38 sales closed at prices recorded at $17 million or higher. In the same period last year, just 12 deals landed in that price category 13 if you record a property that sold for $16.9 million.
This season also saw six sales record at between $30 million and $40 million, while another nine deals hit prices even higher.
Here’s a rundown of the sales including two that involved vacant lots recorded at more than $40 million this season. Unless otherwise noted, the prices are the ones documented by the Palm Beach County Clerk’s office.