David P. Malm Of Webster Equity Partners Acquires 0.57 Acre Lot In Palm Beach For $16M

A 0.57-acre vacant lot located at 1150 North Ocean Way in Palm Beach has been sold for $16 million. The asset is characterized as raw land and is situated in the Palm Beach market.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $16,000,000
• Buyer: David P. Malm - Webster Equity Partners
• Seller: Toburn Management
• Broker: Christopher Leavitt - Douglas Elliman
• Lender: Bank of New Hampshire

David P. Malm’s Goldfinger LLC is the entity that purchased the property. Plans are in place for a new mansion to be constructed on this site, as facilitated by broker Christopher Leavitt from Douglas Elliman.