The Real Deal Miami

Palm Beach parcel sells for $22.7 million

April 14, 2011 03:00AM

Palm Beach broker Lawrence Moens has sold a lakefront parcel he owned
with a business partner for $22.7 million, according to a trustees’ deed
recorded by the Palm Beach County Clerk’s Office. The lot was sold to
billionaire Thomas Peterffy, who acted as the trustee of a revocable
trust established in his name. The parcel is located in the Blossom
Estate subdivision, and is approximately 5.98 acres, comprising what
could be two “buildable” lots. The lot was purchased through the 1255
South Ocean Boulevard Realty Trust in December for $10.7 million. “I
think it was a fair deal for both sides,” said Moens on Monday. “The
buyer got one of the last great parcels on the intracoastal.” [Palm
Beach Daily News]