tomo logo

$24,900,000

Beds
6
Baths
5.5
sq ft
4,890

550 Island Dr, Palm Beach, FL 33480

550 Island Dr

Palm Beach, FL 33480

  • 17 days on market
BEAUTIFULLY REIMAGINED: This Bermuda gem evokes an island lifestyle and ambiance which is ideal for families and entertaining. The interior has been beautifully reimagined and is now in total harmony with the tropical gardens that surround the house. The home is the epitome of ''Palm Beach Chic'' in the truest sense. Architectural elements include soaring pickled wood ceilings throughout the house, outdoor covered loggias with a fireplace and an infinity pool which all create a magical setting overlooking 150' of water frontage. There is a separate pool house positioned alongside the water which consists of a large living room with vaulted ceilings, bedroom, bathroom, morning bar and outdoor gazebo for ''alfresco'' dining. The house was taken down to the studs in 2016 and SEE MORE:

Details

Property type

Single Family Residence

Lot size

0.55 acres

Price per sq ft

$5,093

Year built

1955

Annual property taxes

$118,456

Price History

11/06/2024
Beaches

Beaches #R11034636

Listed
$24,900,000
-12.63%
05/24/2024
Beaches

Beaches #R10884124

Removed
$28,500,000
04/03/2024
Beaches

Beaches #R10884124

Price change
$28,500,000
-12.31%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

First Republic Bank

Loan start date

June 2023

Original loan amount

$5,000,000

Est. remaining balance

Not provided

Interest rate

6%

Loan type

New Conventional, 30 year

Seller

Richard E Thornburgh and Cornelia P Thornburgh

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/23/2024 at 12:10 AM

Listing updated: 11/13/2024 at 11:55 AM

Listed by: Liza Pulitzer, Brown Harris Stevens of PB Phone #: (561) 659-6400

MLS: Beaches #R11034636

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