550 Island Drive, Palm Beach, FL 33480
$25,400,000
Property Type:
Residential
Bedrooms:
6
Baths:
5.1
Square Footage:
4,890
Status:
Closed
Current Price:
$25,400,000
Last Modified:
1/08/2025
Description
BEAUTIFULLY REIMAGINED: This Bermuda gem evokes an island lifestyle and ambiance which is ideal for families and entertaining. The interior has been beautifully reimagined and is now in total harmony with the tropical gardens that surround the house. The home is the epitome of ''Palm Beach Chic'' in the truest sense. Architectural elements include soaring pickled wood ceilings throughout the house, outdoor covered loggias with a fireplace and an infinity pool which all create a magical setting overlooking 150' of water frontage. There is a separate pool house positioned alongside the water which consists of a large living room with vaulted ceilings, bedroom, bathroom, morning bar and outdoor gazebo for ''alfresco'' dining. The house was taken down to the studs in 2016 and SEE MORE:
Supplements: completely rebuilt with no expense spared. The renovation includes a cement slurry roof, all impact windows and doors, a new seawall, boat lift, 2 floating docks and a full house generator just to name a few. The outdoor lighting is exquisite throughout the garden and illuminates the water at night from the seawall. The effect is stunning. This is island living at its best.
More Information MLS# RX-11034636
Contract Information
Listing Date: 2024-11-06
Status: Closed
Original List Price: 24900000
Auction: No
Sold Price: $25,400,000
Current Price: $25,400,000
List Price/SqFt: 5092.02
General Property Description
Type: Single Family Detached
Governing Bodies: None
Main Level Bedrooms: 6
Total Bedrooms: 6
Main Level Bathrooms: 5
Baths - Full: 5
Baths - Half: 1
Baths - Total: 5.1
Property Condition: Resale
Year Built: 1955
SqFt - Total: 6207
SqFt - Living: 4890
SqFt Source: Other
Gated Community: No
Garage Spaces: 2
Covered Spaces: 2
Homeowners Assoc: None
Association Deposit: No
Membership Fee Required: No
Subdivision: EVERGLADES ISLAND 3
Legal Desc: EVERGLADES ISLAND PL NO 3 S 50 FT OF LT 36 & LT 38
Lot SqFt: 23962
Lot Dimensions: 150.0 ft x 159.0 ft
Waterfront: Yes
Front Exp: East
Private Pool: Yes
Pets Allowed: Yes
Pets on Premises: No
Total Floors/Stories: 1
Location Tax Legal
Area: 5003
County: Palm Beach
Parcel ID: 50434327030000361
Street #: 550
Street Name: Island
Street Suffix: Drive
Zip Code: 33480
Geo Lat: 26.697159
Geo Lon: -80.043274
Status Change Info
Under Contract Date: 2024-11-26
Sold Date: 2025-01-08
Sold Price: $25,400,000
Terms of Sale: Cash
Sold Price/SqFt: 5194.27
Storm Protection
Impact Glass: Partial
Concessions
Seller Concessions: No
Contributions
Buyer Contributions: No
Property Features
Construction: CBS
View: Intracoastal
Waterfront Details: Intracoastal
Private Pool Description: Heated
Lot Description: 1/2 to < 1 Acre
Exterior Features: Cabana; Covered Patio; Green House
Interior Features: Fireplace(s)
Furnished: Unfurnished
Rooms: None
Parking: Garage - Attached
Restrict: None
Security: Security Sys-Owned
Flooring: Wood Floor
Heating: Central
Cooling: Central
Roof: Other
Boat Services: Private Dock
Terms Considered: Cash; Conventional
Utilities: Electric
Window Treatments: Hurricane Windows; Impact Glass
Taxes: Homestead
Possession: At Closing
Contingencies: None
Room Information
Living Room
Length: 0.00
Width: 0.00
Length: 0.00
Level: Main
Width: 0.00
Kitchen
Length: 0.00
Width: 0.00
Length: 0.00
Level: Main
Width: 0.00
Master Bedroom
Length: 0.00
Width: 0.00
Length: 0.00
Level: Main
Width: 0.00
Listing Office: Brown Harris Stevens of PB
Last Updated: January - 08 - 2025
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