Today in Palm Beach, Shelly Newman of The Corcoran Group has brought a rare property back to market at $200 million.
This is an extremely unique opportunity to build on the prominent Billionaires Row, on Sloan’s Curve, among some of the most prestigious estates in Palm Beach, according to Newman.
“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,” says Newman. “When you add on that the property has yet to be developed, it is even more of a once-in-a-lifetime property.”
Once owned by the late Alfred P. Sloan Jr., a former chairman of General Motors Corp., and the namesake of Sloan’s Curve, the property came on the market with Newman in 2022 for the first time in a half-century for $150 million.
“When looking at the neighboring properties on ‘Billionaires Row,’ this property is truly the last of its kind,” Newman says. “There is no demolition needed, there is no remodeling needed, this property allows for first-time, ground-up, new construction.”
The property at 1980 South Ocean Boulevard is the only available vacant parcel stretching from the Intracoastal Waterway to the Atlantic Ocean with a high elevation.
Two parcels — 1.29 acres with Lake Worth frontage with another 0.47-acre of deeded submerged land and the other a 0.98-acre parcel that includes about 150 feet on the ocean — can be unified to allow for a 20,000-square-foot residence.
The irregularly shaped lot on the Intracoastal offers approximately 270 feet of water frontage. Meanwhile, the oceanside lot boasts an 18-foot and 18-inch elevation.
Concept drawings are available of an Italian-style mansion with a guest house designed by Fairfax & Sammons, a firm led by architect Richard Sammons, who is also the vice chairman of the Architectural Commission in Palm Beach. While ARCOM approval is still necessary, the rendering provides a solid glimpse into what could be built there.
Alternatively, keeping the parcels separate allows for the creation of two separate houses on each waterfrontage.
If sold, the property would break records as no Palm Beach parcel has ever sold for $200 million.
Real estate has been busy so far this season, especially since President Donald Trump took office.
The Wall Street Journal reported on Feb. 6 that billionaire William P. Lauder has found a buyer for two side-by-side vacant lots at 1063 and 1071 N. Ocean Blvd., which had been asking a total of $178 million.
Check out more renderings below.
