Updated Sep 25, 2026
—Single Family
Missy Savage Of Brown Harris Stevens Represents Buyer In $28 Million Sale Of Palm Beach Home
480 South Ocean Boulevard
Building Size
4,700 SF
Asset Type
Single Family
Closing
Mar 4, 2026
About this deal
AI
A historic oceanfront home located at 480 South Ocean Boulevard in Palm Beach, with a total area of 4,700 square feet, has been sold for $28 million. This single-family asset, reflecting a price per square foot of $5,957, was initially listed at $38.7 million and remained on the market for a year before the sale was finalized. The property was originally designed by architect Marion Sims Wyeth in 1928.
Summary of transation details:
- Property Type: Single Family
- Transaction Amount: $28,000,000
- Square Footage: 4,700
- Price per Square Foot: $5,957
- Address: 480 South Ocean Boulevard
- Market: Palm Beach
- Buyer's Representative: Missy Savage - Brown Harris Stevens
- Seller's Representative: Stephen Ploof - Compass & Hilton Hilton
The sale involved key representatives with Missy Savage from Brown Harris Stevens representing the buyer, while Stephen Ploof from Compass & Hilton Hilton represented the seller. The buyer's identity remains undisclosed. The landmark property is noted for its continued demand in the luxury waterfront market despite the limited inventory available.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93