941 S. Ocean Blvd Land Trust Purchases Oceanfront Lot From 941 Delray Ocean LLC For $26M

An oceanfront lot located at 941 South Ocean Boulevard in Delray Beach, comprising 1.37 acres, was sold for a total of $26 million. The property was owned by 941 Delray Ocean LLC before the sale to 941 S. Ocean Blvd Land Trust.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $26,000,000
• Address: 941 South Ocean Boulevard
• Market: Delray Beach
• Acres: 1.37
• Buyer: 941 S. Ocean Blvd Land Trust
• Seller: 941 Delray Ocean LLC
• Brokers: Nick Malinosky & Mike O'Connor - Douglas Elliman

The transaction was facilitated by brokers Nick Malinosky and Mike O'Connor, who represented both the buyer and seller in the deal. Notably, the sale occurred less than six months after the property was initially acquired by the seller, yielding an 18% gain within this timeframe.