81 LLC Acquires 0.53 Acre Waterfront Lot On Tarpon Way From Craig Cohon For $27.25M
Tarpon Way
$27,250,000
Building Size
—
Asset Type
Land
Closing
Mar 26, 2026
AI
A 0.53-acre vacant lot on Tarpon Way in Palm Beach has been sold for $27.25 million. This waterfront property is one of the few available in the area and last traded in 1998 for $2.63 million, indicating a significant increase in value over the years.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $27,250,000
- Address: Tarpon Point Lot
- Market: Palm Beach
- Buyer's Name: 81 LLC
- Seller's Name: Craig Cohon - Violet Hill Development Co.
- Buyer's Representative: Liza Pulitzer - Brown Harris Stevens
- Seller's Representative: Suzanne Frisbie - The Corcoran Group
- Acres: 0.53
The seller, Craig Cohon of Violet Hill Development Co., was represented by Suzanne Frisbie from The Corcoran Group. The buyer, 81 LLC, was represented by Liza Pulitzer of Brown Harris Stevens. This transaction ties to the legacy of George Cohon, founder of McDonald’s in Canada and Russia, who passed in 2023.
Players
Palm Beach Land Market Snapshot
Boundary boundary · Land · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93