Malasky sells Palm Beach spec home for $15.5M

The newly completed waterfront home on Everglades Island sold for about $2,695 per square foot

Miami /
Feb.February 04, 2019 03:30 PM

608 Island Drive

Malasky Homes sold a recently completed waterfront spec home in Palm Beach for $15.5 million.

The developer sold the 5,769-square-foot home at 608 Island Drive for about $2,695 per square foot. A trust controlled by the Koeppel Law Group of West Palm Beach bought the home. The true buyer is unknown.

The waterfront property has five bedrooms, six-and-a-half bathrooms and sits right on the Intracoastal Waterway on Everglades Island. It was completed this year.

Malasky bought the site from former Bear Stearns executive Denis P. Coleman and his wife Annabelle G. Coleman in 2016 for $6.49 million, records show.

Before the new spec home was built, the lot housed a 4,449-square-foot home built in 1962.

West Palm Beach-based Malasky Homes is a full-service home building company owned and operated by the Malasky family.

The company recently sold a spec home in Palm Beach to the founders of BuyBuy Baby Richard Feinstein and Jeffrey Feinstein for $21 million.


Related Articles

arrow_forward_ios
Donald Trump and The Mar-a-Lago Club in Palm Beach (Getty Images, LoopNet, iStock/Illustration by Steven Dilakian for The Real Deal)
Trump’s toilet triumph: Guests of the former No. 1 will have more places to go No. 2
Trump’s toilet triumph: Guests of the former No. 1 will have more places to go No. 2
From left: Alejandro Diaz Bazan, David Solomon, Brett Harris and Ana Bozovic (Andian Group, Brett Harris Homes, Miami Girls, iStock)
Build it and they will come: Resi agents join the South Florida spec home development craze
Build it and they will come: Resi agents join the South Florida spec home development craze
554 Lakeview Dr, Miami Beach and Jarett Fein (Zillow, KV National)
Title insurance honcho pays $15M for restored waterfront Mid-Miami Beach house
Title insurance honcho pays $15M for restored waterfront Mid-Miami Beach house
Matt Sellick, president, Stock Luxury Homes, in front of 916 South Ocean Boulevard (Stock Luxury Homes, Zillow, iStock)
Oceanfront spec mansion on Palm Beach’s Billionaires’ Row trades for $57M
Oceanfront spec mansion on Palm Beach’s Billionaires’ Row trades for $57M
Todd Michael Glaser (Photos by Sonya Revell)
The Closing: Todd Michael Glaser
The Closing: Todd Michael Glaser
West Palm Beach spec home sells for $9M in record non-waterfront deal
West Palm Beach spec home sells for $9M in record non-waterfront deal
West Palm Beach spec home sells for $9M in record non-waterfront deal
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
From left: 1840 South Ocean Boulevard, 1341 South Ocean Boulevard and 2000 South Ocean Boulevard
These were South Florida’s largest resi sales of 2021
These were South Florida’s largest resi sales of 2021
arrow_forward_ios

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

Loading...