Price Reduction - Waterfront
550 Island Drive, Palm Beach, FL
$ 28,500,000
Property Attributes
  • MLS#RX10884124
  • TypeSingle Family
  • CountyPALM BEACH
  • CityPalm Beach
  • Area5003
  • NeighborhoodEverglades Island 3
  • Zip33480
  • Style
  • Year Built1955
  • Taxes$ 119697
  • Price$ 28,500,000
  • Bedrooms7
  • Full Bathrooms5
  • Half Bathrooms0
  • Sqr Footage4922
  • Lot Size0.550115 Acres
Data Source:
Beaches MLS
Property Description

The Epitome of Palm Beach Chic on Everglades Island. This house is a true Bermuda style house with 150 feet of direct waterfront. Most ceilings are vaulted with pickled wood to create a sophisticated island atmosphere. There are multiple outdoor living spaces surrounding the infinity pool including a covered loggia with a fireplace. The magical garden has been beautifully maintained and provides total privacy throughout. The main house consists of 5 bedrooms and there is a separate guest house overlooking the water with 2 bedrooms. The structures were completely renovated in 2016 with no expense spared. Amenities include a full house generator, 2 car garage, a boatlift and one floating dock along with a new seawall. This is Island living at its best.

Price History
4/24/2023 Listed $39,000,000
11/16/2023 11% - $34,900,000
1/24/2024 7% - $32,500,000
4/3/2024 13% - $28,500,000

General Features

Interior Features Fireplace(s)
Construction CBS
Heating Central
Cooling Central
Utilities Electric
Roof Other
Parking Garage - Attached
Pets Allowed Yes
Exterior Features Cabana,Covered Patio,Green House
Zoning RB
HOA None
Number of Garage Spaces 2.00
Security Security Sys-Owned
Status Active
Full Baths 5
Year Built 1955
Type Single Family Detached
Rooms None
Property Type A
Area 5003
Auction No
Tax Year 2022
Terms Considered Cash,Conventional
Short Sale No
Restrict None
Taxes 119697.00
Geo Lat 26.697158
Adult 55+ No Hopa
Governing Bodies None
Membership Fee Required No
Virtual Tour
Geo Area PB30
Geo Lon -80.043274
Legal Description EVERGLADES ISLAND PL NO 3 S 50 FT OF LT 36 & LT 38

Interior Features

Flooring Wood Floor
Furnished Y/N Unfurnished
Total Bedrooms 7
Master Bedroom/Bath None
Total Bathrooms 5.00
SqFt - Living 4922.00
Total Floors/Stories 1.00
Equip/Appl Included Dishwasher,Dryer,Freezer,Microwave,Range - Gas

Exterior Features

Lot Description 1/2 to < 1 Acre
Waterfront Yes
Waterfront Intracoastal
Private Pool Y/N Yes
Lot Dimensions 150.0 ft x 159.0 ft
Subdiv. Amenities None
Storm Protection: Impact Glass Partial


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Single Family Average in 33480

AVG $18.69M
AVG $93,525
AVG 519
Data Provided by Inside Real Estate®
Year Built
AVG 1971
AVG 28
Data Provided by Walkscore® not using MLS data

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