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June 12, 2013
A luxury waterfront mansion in Palm Beach has sold for 42 million dollars, as recorded by the Palm Beach County Clerk’s office. The estate at 1220 S. Ocean Blvd. was developed by builder Dan E. Swanson as a spec home and was originally priced at 74 million dollars.
The Billionaire’s Row estate was completed in 2011 and has never been occupied. It sits on 2.5 acres, with 200 feet of waterfront. The home and separate guesthouse comprise 27,000 square feet of indoor and outdoor living space, including an impressive 4,000-square-foot master suite.
42 million dollars is the second highest price recorded for a lakefront home in Palm Beach. It is the highest price paid for a South End waterfront home that does not extend to the Atlantic Ocean. The highest price ever fetched by a residence on the Intracoastal Waterway was 50 million dollars. That sale occurred in January of 2006.
Source: Palm Beach Daily News
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