1285 North Ocean Boulevard Lot 1 & 2, Palm Beach, FL 33480

SingleFamilyResidence · Active

$69,900,000

1285 North Ocean Boulevard Lot 1 & 2, Palm Beach, FL 33480 — MLS photo

Miami Luxury Homes & Waterfront Estates

1285 North Ocean Boulevard Lot 1 & 2, Palm Beach, FL 33480

Bedrooms
7
Bathrooms
10
Interior
5,637 sq ft
Price / sq ft
$12,400/sq ft
Built
2027
Lot
28,107 sq ft

The residence

Nestled on a rare over half-acre oceanfront lot, this exceptional new construction home is situated on one of the most desirable ocean front stretches of Palm Beach Island, the prestigious North End. Known for its expansive beaches, this British Colonial estate occupies a .64-acre lot with 125 feet of breathtaking views over the clear blue Atlantic Ocean. This exquisite estate offers 7 bedrooms and 10 bathrooms within 5,637 square feet of interior space, totaling 7,012 square feet of living area. The home includes a basement with elevator access, a 2-car garage, and a heated saltwater pool complete with a jacuzzi spa. The rare oversized lot provides the potential to build additional +/- 5,000 square footage to suit your needs. Whether it's a guest house or tennis courts, the possibilities are endless. The interior layout is thoughtfully designed with a secondary primary bedroom on the first floor, a formal dining room, a private study, and a gourmet kitchen equipped with a walk-in pantry. All spaces are accentuated by soaring ceilings and designer-grade finishes. The primary suite features dual walk-in closets, while the basement level offers adaptable space with a bathroom and laundry facilities, perfect for a wine cellar or exercise room. This property represents a recent collaboration between the esteemed Harrison Design and M2B Homes, whose work has been highlighted in Florida Design. Their impressive portfolio includes Merrywood in Atlanta, Georgia, which won the 2020 Addison Mizner Award from the Institute of Classical Architecture and Art Florida Chapter and the 2021 Residential Design Award from the American Institute of Architects Atlanta Chapter. This is a rare opportunity to own a brand-new oceanfront residence on a rare .64 acre ocean front lot along one of the most coveted stretches of Palm Beach Island. The property is also offered at $49.9M with a 14,575-square-foot lot configuration. Inquire for details.

Property location

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1285 North Ocean Boulevard Lot 1 & 2, Palm Beach, FL 33480

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Facts & features

Interior

Bedrooms
7
Bathrooms
10
Living area
5,637 sq ft

Exterior & Structure

Property type
SingleFamilyResidence
Year built
2027
Lot size
28,107 sq ft

Parking

Not provided in the MLS listing.

HOA, Community & Financials

County
Palm Beach
MLS listing ID
R11163554
Listing status
Active

Investment intelligence

Yield & ROI calculator

Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.

Estimated monthly cash flow

-$300,677

Cap rate
0.5%
Net yield
0.5%
Cash-on-cash return
-18.4%
Gross yield
3.5%
Mortgage payment
$331,362/mo
Down payment
$17,475,000
Loan amount
$52,425,000
Annual NOI
$368,218

Estimates only — includes 5 % maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.

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1285 North Ocean Boulevard Lot 1 & 2, Palm Beach, FL 33480