IMLI Leaf LLC Purchases Historic Mansion From Ronald S. Gross Estate For $15.5 Million In Palm Beach

The property asset involved in this transaction is a single-family estate located at 420 Brazilian Avenue in the Palm Beach market. The property spans 4,193 square feet and sits on a 0.2-acre lot. The sale price was $15,500,000, resulting in a price per square foot of $3,697. The estate was originally built in 1924.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $15,500,000
• Address: 420 Brazilian Avenue
• Market: Palm Beach
• Square Footage: 4,193
• Price per Square Foot: $3,697
• Buyer: IMLI Leaf LLC
• Broker: Shelly Newman - The Corcoran Group
• Previous Sale Price: $3,490,000 (2017)

This transaction was facilitated by broker Shelly Newman, representing the buyer, IMLI Leaf LLC. The property was sold by the estate of developer Ronald S. Gross, who had previously acquired it in 2017 at a significantly lower price. The historic mansion's recent sale reflects a substantial appreciation in its market value over the years.