The Real Deal Miami

Pricey setback over setback

June 25, 2008 12:16PM

The sale of a Palm Beach home that would have brought more than a 300 percent profit to William and Susan Guttman has been nixed after a county circuit judge ruled in favor of their neighbors. The Guttmans had a contract to sell their West Indies Drive home for $3.1 million in 2006, after buying it for $715,000 in 1995, but the sale was contingent on the prospective buyers’ redevelopment plans, which were in violation of a deed-mandated 35-foot setback minimum. The Guttmans are still trying to get members of their 19-home development to unanimously sign off on a waiver that would allow building up to the town’s 25-foot setback.