The Real Deal Miami

Vacant lakeside lot sells for $5M in Palm Beach

The lot on Lake Worth Lagoon was listed for $5.9M in November
By Amanda Rabines | May 25, 2017 03:10PM

235 Via Vizcaya

A vacant waterfront lot just sold for $5 million in Palm Beach.

An entity, 235 Via Vizcaya LLC, which lists Maura Ziska as its trustee, purchased the lot at 235 Via Vizcaya. Ziska, a real estate lawyer, usually represents high-net-worth clients in South Florida.

In November, the nearly one-third-acre lot on Lake Worth Lagoon was listed for $5.9 million, according to Realtor.com.

County records show the seller as Delaware-based company 235 Via V PB LLC, which lists Stephen P. Magowan as its manager. Magowan is the principal of SES Advisors, a Bala Cynwyd, Pennsylania-based financial consulting firm. He purchased the lot for $4.75 million in 2011. Prior to that, it was sub-divided by the previous owner, Richard Kurtz, who purchased the undivided plot for $7.15 million in 2011. Earlier, David Kosoy, CEO of Sterling Financial Group, paid $3.1 million for the property in 2000.

The area is close to Mar-a-Lago Club, the president’s “Winter White House.”

Developer Edward Falcone and his ex-wife Faye Falcone recently sold their waterfront home in Palm Beach, just three miles north of the lot, at 8 South Lake Trail, for $27 million.

Billionaire hedge funder Paul Tudor Jones II plans to make $6.4 million improvements on an estate a mile-and-a-half south of the lot. He paid $71 million for the oceanfront estate in 2015.