550 Island Drive, Palm Beach, FL 33480
$25,400,000
Property Type:
Residential
Bedrooms:
6
Baths:
6
Square Footage:
6,207
Lot Size (sq. ft.):
23,958
Status:
Closed
Current Price:
$25,400,000
List Date:
11/06/2024
Last Modified:
1/13/2026
Description
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:
Supplements: completely rebuilt with no expense spared. The renovation includes a cement slurry roof, all impact windows and doors, a new seawall, boat lift, 2 floating docks and a full house generator just to name a few. The outdoor lighting is exquisite throughout the garden and illuminates the water at night from the seawall. The effect is stunning. This is island living at its best.
More Information MLS# R11034636
Contract Information
Comp Sale YN: No
Listing Contract Date: 2024-11-06
Status: Closed
Original List Price: 24900000
Sold Price: $25,400,000
Current Price: $25,400,000
Location and Legal
County Or Parish: Palm Beach
County Parish Name: Palm Beach
City Name: Palm Beach
Postal Zip: 33480
Geographic Area: PB30
Special Assessment YN: No
Country: United States
Street Number: 550
Street Name: Island
Street Suffix: Drive
State Or Province: FL
Postal Code: 33480
Subdivision Name: EVERGLADES ISLAND 3
Area: 5003
Parcel Number: 50434327030000361
Zoning: R-B(ci
General Property Information
Living Area Main: 4890
Lot Size Dimensions: 150.0 ft x 159.0 ft
Gated Community YN: No
Lot Size Area: 23962
Senior Community YN: No
Outdoor Living Spaces YN: Yes
Furnished: Unfurnished
Stories Total: 1
Stories: 1
Fireplace YN: Yes
Pool Private YN: Yes
Property Sub Type: Single Family Residence
Bedrooms Total: 6
Bathrooms Total: 6
Bathrooms Full: 5
Bathrooms Half: 1
Building Area Main: 6207
Building Area Source: Other
Year Built: 1955
Garage YN: 1
Attached Garage YN: 1
Garage Spaces: 2
Covered Spaces: 2
Lot Size Acres: 0.55
Waterfront YN: 1
Direction Faces: East
Financial Information
Association Deposit YN: No
Membership Fee Required YN: No
Tax Annual Amount: 118456
Tax Year: 2023
Tax Legal Description: EVERGLADES ISLAND PL NO 3 S 50 FT OF LT 36 & LT 38
Remarks and Miscellaneous
Public Historical Remarks: Boat Services:Private Dock Y
Office/Member Information
DXORIGMLSID: RML
Status Change Information
Buyer Financing: Cash
Major Change Timestamp: 2025-01-08T18:07:26Z
Major Change Type: Status Change
Status Change Date: 2025-01-08
Under Contract Date: 2024-11-26
Close Date: 2025-01-08
Close Price: 25400000
Amenities
None: 1
Electric
Three Phase: 1
Flooring
Wood: 1
Parking Features
Attached Garage: 1
Garage: 1
Property Condition
Resale: 1
Short Sale Details
Short Sale Addendum: No
Other Structures
Cabana: 1
Greenhouse: 1
Possession
Close Of Escrow: 1
Heating
Central: 1
Water View
Intracoastal: 1
Window Features
Storm Window(s): 1
Appliances
Dishwasher: 1
Disposal: 1
Dryer: 1
Free-Standing Freezer: 1
Gas Range: 1
Ice Maker: 1
Microwave: 1
Refrigerator: 1
Construction Materials
CBS: 1
Listing Terms
Cash: 1
Conventional: 1
Pool Features
Heated: 1
Roof
Other: 1
Security Features
Security System Owned: 1
Waterfront Features
Intracoastal: 1
Boat and Dock Information
Dock: Yes
Boat and Dock Features
Private Dock: 1
Cooling
Central Air: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Main Level Rooms
Main Level Bathrooms: 5
Main Level Bedrooms: 6
Master Bedroom/Bath
None: 1
Pets Allowed YN
Yes: 1
Restrictions
No Restrictions: 1
Storm Protection
Impact Glass: Partial
Tax Information
Homestead Exemption: 1
Showing Details
Pet(s) on Premises: No
Outdoor Living Spaces
Patio: 1
Patio Details
Patio - Covered: 1
Contingencies
None: 1
Room Types
Kitchen: 1
Kitchen Level: Main
Living Room: 1
Living Room Level: Main
Master Bedroom: 1
Master Bedroom Level: Main
Concessions
Seller Concessions: No
Contributions
Buyer Contributions: No
Price Calculations
Current Price To SqFt: 5194.27
Original List Price To Close Price: 0.98
Acreage Description
1/2 To Less Than 1 Acre Lot: 1
Originating Details
Originating System Key: 20241104233751334659000000
Originating System ID: M00000170
Property Features
Electric: Three Phase
Flooring: Wood
Parking Features: Attached Garage; Garage
Property Condition: Resale
Appliances: Dishwasher; Disposal; Dryer; Free-Standing Freezer; Gas Range; Ice Maker; Microwave; Refrigerator
Boat and Dock Features: Private Dock
Construction Materials: CBS
Cooling: Central Air
Heating: Central
Listing Terms: Cash; Conventional
Other Structures: Cabana; Greenhouse
Pets Allowed YN: Yes
Pool Features: Heated
Possession: Close Of Escrow
Restrictions: No Restrictions
Roof: Other
Security Features: Security System Owned
Tax Information: Homestead Exemption
Water View: Intracoastal
Waterfront Features: Intracoastal
Window Features: Storm Window(s)
Showing Requirements: Appointment Only; Call Listing Agent
Outdoor Living Spaces: Patio
Patio Details: Patio - Covered
Contingencies: None
Room Types: Kitchen; Living Room; Master Bedroom
Acreage Description: 1/2 To Less Than 1 Acre Lot
Room Information
Living Room
Length: 0.00
Length: 0.00
Width: 0.00
Width: 0.00
Level: Main
Kitchen
Length: 0.00
Length: 0.00
Width: 0.00
Width: 0.00
Level: Main
Master Bedroom
Length: 0.00
Length: 0.00
Width: 0.00
Width: 0.00
Level: Main
Listing Office:
Brown Harris Stevens of PB
Last Updated: January - 13 - 2026
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