Half-acre lot on in-desire street in Palm Seashore sells for practically $7M

A mostly vacant lot of about a half-acre at 220 Jungle Road in Palm Beah's Estate Section has sold for $6.95 million. The garage structure at the rear remained after a 1935 house was razed following the sale of the property in 2017.

If Palm Beach’s genuine estate sector were a sporting activities auto, the desire for buildable land has been launched into substantial equipment by the coronavirus pandemic.

And while new or simply newer properties have been swiftly snapped up by consumers in excess of the earlier 8 months, vacant land to accommodate new residences is a primary commodity as nicely, in particular if that residence in issue is on a choice street.

These types of seems to be the circumstance for a mostly vacant parcel at 220 Jungle Highway in the Estate Segment that sold off-market place — finish with city-accredited household plans — for $6.95 million, in accordance to the deed recorded Thursday. The property steps 4-tenths of an acre.

The design of this never-built house earned the town's approval last year for mostly vacant lot that just sold for a recorded $6.95 million at 220 Jungle Road in Palm Beach.

The whole lot was offered by Considered Advancement LLC, a Florida minimal legal responsibility organization controlled by businessman and genuine estate developer Edward Kettenbach. The company’s handle on the deed matches that of the Kettenbach family’s oceanfront estate, 801 S. County Highway. Frances Kettenbach has the County Road house homesteaded in the most up-to-date Palm Seashore County tax rolls, documents demonstrate.

The purchaser on Jungle Highway was a Florida constrained legal responsibility firm named after property’s handle. Courthouse and business enterprise documents expose minimal about the corporation besides that it is managed by genuine estate lawyer Maura Ziska, who declined to remark.