Price of late designer Lilly Pulitzer’s Palm Beach chopped to $8.5M

The home of deceased Palm Beach socialite and dress designer Lilly Pulitzer got a price chop to $8.5 million, down from its $11.5 million ask in January of 2011, the New York Observer reported.

Known as “the Jungle” because of its flourishing foliage, the approximately 9,000-square-foot estate is on 1.4 acres of land and features a main house with four bedrooms, a “casita” with three bedrooms and a pool house with two bedrooms. According to the property’s MLS listing, it can be subdivided into two lots.

The property,  at 710 South County Lane in Palm Beach, is being marketed as “land” because of its valuable location in the interior section of Palm Beach. Potential buyers would have the option to tear down all three houses.

Brown Harris Stevens’ Peter McKim Pulitzer and his sister, Liza Pulitzer, the late Lilly Pulitzer’s children, have the listing. “We would hate to see the house torn down,” Liza said, “but the house is not landmarked.” [The New York Observer] —Evan Bleier