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.