11800 Turtle Beach Rd LLC Acquires Waterfront Home From David Hamel & J.P. Morgan Chase For $27.5M

The property involved in this transaction is a single-family home located at 11800 Turtle Beach Road in North Palm Beach, FL. It has a total square footage of 6,800 and is situated on 1 acre with 128 feet of water frontage. The home was sold for $27,500,000, which translates to approximately $4,044 per square foot. The property was initially listed for $35 million before the sale.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $27,500,000
• Address: 11800 Turtle Beach Road
• Market: North Palm Beach, FL
• Square Footage: 6,800
• Price Per Square Foot: $4,044
• Buyer: 11800 Turtle Beach Rd LLC
• Seller: David Hamel & J.P. Morgan Chase
• Brokers: James Kenny & Paul Kaneb - K2 Realty

The sellers, David Hamel and J.P. Morgan Chase, entrusted the sale of the waterfront home of late businessman Dana Hamel to their brokers, James Kenny and Paul Kaneb of K2 Realty. The transaction involved the property being sold by Hamel’s trustees to an unidentified buyer who intends to demolish and rebuild the home.