Oceanfront Inn listed for $12.95 million

The Oceanfront Inn in South Palm Beach has been listed for sale for $12.95 million, the Palm Beach Post reported. The 58-room property, which was purchased in 2002 for $3.3 million, was built in 1963 and is still in operation. “You can’t get any closer to the ocean sitting right here other than on a boat,” said Adrienne Glover, a diner at the Tides Bar & Grille on the property. The property, which went into foreclosure last year, was at one time the site of a planned 14-story condominium project which ultimately fell through. [Palm Beach Post]