SOLDLand
690 Island Drive LLC Acquires 0.84 Acre Lakefront Lot In Palm Beach For $39.2M
690 Island Drive
$39,200,000
Building Size
—
Asset Type
Land
Closing
Jun 26, 2026
AI
The property involved in this transaction is a vacant lakefront lot measuring 0.84 acres located at 690 Island Drive in Palm Beach, Florida. It was sold for $39,200,000. The property was recently acquired by the buyer, 690 Island Drive LLC, from the seller, The 690 Island Drive Trust. The transaction took place just over a year after the seller purchased the property for $33 million from Bob Vila.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $39,200,000
- Address: 690 Island Drive
- Market: Palm Beach, FL
- Buyer: 690 Island Drive LLC
- Seller: The 690 Island Drive Trust
- Buyer's Representative: Suzanne Frisbie - The Corcoran Group
- Seller's Representative: Christian Angle - Christian Angle Real Estate
The deal was facilitated by Suzanne Frisbie of The Corcoran Group, representing the buyer, and Christian Angle of Christian Angle Real Estate, representing the seller. This transaction highlights the representation of the respective parties in a significant real estate deal within the Palm Beach market.
Players
Island Grove Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93