965 NOB LLC Purchases Oceanfront Land From Stock Development In Palm Beach For $58 Million

The transaction involved a 1.2-acre oceanfront lot located at 965 North Ocean Boulevard in Palm Beach. The property was sold for $58 million. This land is situated in a prime location, showcasing its potential for future development.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $58,000,000
• Address: 965 North Ocean Boulevard
• Market: Palm Beach
• Acres: 1.2
• Buyer: 965 NOB LLC
• Seller: Brian K. Stock - Stock Development
• Buyer's Representative: Marley Goodman Overman - Illustrated Properties; Gary Pohrer - Serhant
• Seller's Representative: Lawrence Moens - Lawrence A. Moens Associates

Stock Development sold the property after not receiving approval for a planned mansion. The buyer, 965 NOB LLC, is managed by Erik Moody, an executive at Silver Lake. The listing was handled by Lawrence Moens of Lawrence A. Moens Associates, highlighting the involvement of notable real estate professionals in this high-value transaction.