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

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

Active · SingleFamilyResidence

$69,900,000

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

Beds
7
Baths
10
Living area
5,637 sq ft
$ / sq ft
$12,400/sq ft
Year built
2027
Lot size
28,107 sq ft
HOA fee
—
Annual tax
$259,359

About this property

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
Flooring
Other
Appliances
Dryer, Dishwasher, Freezer, Disposal, Ice Maker, Microwave, Refrigerator, Washer
Cooling
Central Air
Heating
Central
Interior features
Bedroom On Main Level, Dining Area, Separate Formal Dining Room, Dual Sinks, Entrance Foyer, Main Level Primary, Upper Level Primary, Walk In Closets, Elevator, Pantry
Furnished
Unfurnished

Exterior & Structure

Property type
SingleFamilyResidence
Year built
2027
Stories
3
Lot size
28,107 sq ft
Architectural style
Garden Apartment, Other, Split Level
Construction
CBSConcrete Block Structure, Block
Exterior features
Balcony, Patio
Pool
Heated, Pool
Waterfront
Ocean Access
View
Ocean, Pool

Parking

Garage spaces
2
Covered spaces
2
Parking features
Attached, Garage, Two Or More Spaces

HOA, Community & Financials

Amenities
Elevators, Pool
Security
Smoke Detectors
Pets allowed
No
Annual tax
$259,359
Subdivision
BELLO LIDO RESUB
County
Palm Beach
Days on market
239
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

-$211,615

Cap rate
2.1%
Net yield
2.1%
Cash-on-cash return
-13.0%
Gross yield
3.5%
Mortgage payment
$331,362/mo
Down payment
$17,475,000
Loan amount
$52,425,000
Annual NOI
$1,436,959

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