Peter Fine wants $8.45M for empty Palm Island lot, development plans included

Developer originally planned to build 10,000-square-foot spec home on lot

TRD MIAMI /
May.May 12, 2016 12:00 PM

A company linked to spec home developer Peter Fine just put one of Palm Island’s few remaining vacant lots up for sale at $8.45 million, including approved plans for a modern mansion.

The listing was announced Wednesday by EWM’s Nelson Gonzalez, who’s marketing the property. Up for sale is a 30,000-square-foot lot at 158 Palm Avenue, which sits on the southern side of Palm Island and faces PortMiami.

County records show Fine’s company, 158 Palm LLC, paid $5 million for the lot in 2014. That price breaks down to about $167 per square foot. Now, he’s asking just under $282 a foot.

As The Real Deal reported last year when Fine first launched his spec home company in South Florida, the developer was planning to build a mansion at 158 Palm Avenue, though at the time his designs were still in progress.

The home was to measure roughly 10,000 square feet and would boast an asking price of $18 million, with an estimated completion date of fall 2016.

A rendering of Fine’s design included in Gonzalez’s listing shows a two-story home wrapped with floor-to-ceiling windows, wood finishes on the exteriors and tropical landscaping.

TRD’s request for comment to To Better Days Development was not immediately returned.


Related Articles

arrow_forward_ios
Prive at Island Estates and BH3’s Charlie Phelan, Greg Freedman and Daniel Lebensohn and Gary Cohen

Privé at Island Estates developer sues Suffolk Construction over defects

Privé at Island Estates developer sues Suffolk Construction over defects
Pierre Brondeau and Palazzo Del Sol

Pesticide exec pays $14M for Palazzo Del Sol condo

Pesticide exec pays $14M for Palazzo Del Sol condo
Howard Lorber and 1525 North View Drive

Howard Lorber buys waterfront Sunset Islands home for $12M

Howard Lorber buys waterfront Sunset Islands home for $12M
2201 Sunset Drive and David Grutman (Credit: Douglas Elliman)

Hospitality mogul David Grutman lists Sunset Islands home

Hospitality mogul David Grutman lists Sunset Islands home
Jim Cohen, Fontainebleau Development’s president of Residential, and Jeffrey Soffer, with SeaGlass Jupiter

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos
2138 Bay Avenue, Miami Beach (Credit: Google Maps)

Toronto financier pays $14M for Sunset Islands home

Toronto financier pays $14M for Sunset Islands home
Map of priciest condo sales and Palazzo Del Sol (Credit: Google Maps and Douglas Elliman)

$12M Fisher Island closing tops weekly condo sales in Miami-Dade

$12M Fisher Island closing tops weekly condo sales in Miami-Dade
Fisher Island (Credit: Fisher Island)

Nation’s richest ZIP code received a $2M PPP loan. Residents voted to reject it

Nation’s richest ZIP code received a $2M PPP loan. Residents voted to reject it
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...