Very odd to pay $18.5M for a property, spend several more $K to demolish and dispose of the property and be left with less than 1 acre of ground. Somebody other than the developer coughed up some of that dough.
ya think?!
that place probably coulda made a forensics team a lifetime career outta it
Not really strange in the current real estate market in South Florida, the developer will build a spec home on the property and the property could fetch $75-100 million to some Wall Street Executive looking to escape the high taxes in New York its happening every day down there
Location, location, location.
You haven’t seen the Silicon Valley real estate market. Houses are worthless. It’s the lot they want.
Not really.. We tore down a 1.5 million dollar house (built 10 years ago) to build a 3.75 million dollar house. The family has a ‘cheaper’ (850k) house next door, which will be their kids (oldest is 13) play area. They own a chain of restaurants here.
Larry Ellison the Founder of Oracle recently purchased a Beach Front home in Palm Beach for 80 million....
https://therealdeal.com/miami/2021/04/09/oracle-co-founder-pays-80m-for-north-palm-beach-estate/