Palm Beach's Rare Oceanfront Lot Lists for $200M

A coveted oceanfront lot in Palm Beach, located at 1980 South Ocean Boulevard, has been relisted for $200 million, capitalizing on the booming luxury real estate market in Florida. The 2-acre property is the only available vacant lot with both ocean and Intracoastal frontage, presenting a rare opportunity for buyers, as it allows for immediate construction without the need for demolition. Listing agent Shelly Newman highlights the unique nature of this offering, noting that there are only about 20 such properties in Palm Beach that extend across both waterways. The property was initially listed in 2022 for $150 million, indicating a significant increase in its perceived market value due to the rising demand for high-end real estate. Recent sales in the area, including a $285 million spec mansion nearby, add to the allure of this listing. The land comes with concept drawings for an Italian-style mansion, further enhancing its appeal to potential buyers.