The Real Deal Miami

Everglades Island home sells for $9.4M

February 06, 2013 04:00PM

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569 Island Drive

Bruce Beal and Francis Cunningham of Palm Beach paid $9.4 million for a two-story waterfront residence on Everglades Island, according to the Palm Beach Daily News.

The Mediterranean-style custom home at 569 Island Drive was built in 2009 and has a little more than 7,100 square feet of living space, counting both the interior and exterior of the four-bedroom home. The house’s outdoor amenities include a lakeside swimming pool and a loggia with wide views of the water and West Palm Beach.

According to the deed, Beal has a 78 percent interest in the property, while Cunningham owns the remaining 22 percent. Beal’s real estate development and management firm in Boston, the Beal Companies, is listed as the address of both men. Beal serves as partner and chairman of the 125-year-old family-owned firm.

Another Mediterranean-style house, located at 350 Indian Road, that is owned by a land trust for which Beal and Cunningham serve as trustees has been listed at a price of $6.25 million. Built in 2006, that house has six bedrooms and about 8,660 square feet. Beal paid $6.268 million for the Indian Road house when he purchased it in 2006. [PBDN] - Evan Bleier

 

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