Drew Kaplan's 260 Nightingale Trail Trust Acquires Development Site In Palm Beach For $20.5M

A development site located at 260 Nightingale Trail in Palm Beach sold for $20.5 million. The property spans 0.45 acres and was sold off-market, indicating a private transaction not publicly listed. The seller was Jason Reese of Imperial Capital Asset Management, while the buyer is Drew Kaplan representing the 260 Nightingale Trail Trust.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $20,500,000
• Address: 260 Nightingale Trail
• Market: Palm Beach
• Acres: 0.45
• Seller: Jason Reese - Imperial Capital Asset Management
• Buyer: Drew Kaplan - 260 Nightingale Trail Trust

The transaction involves Nightingale 260 Property LLC, which previously acquired the site for $8.55 million in 2024. The sale reflects a trend in luxury Palm Beach real estate, where buyers are willing to pay premiums for the ability to customize partially built homes during construction.