550 Island Drive, Palm Beach, FL 33480 (MLS# R11034636)

550 Island Drive, Palm Beach, FL 33480

$25,400,000
Property Type: Residential Bedrooms: 6 Baths: 6 Square Footage: 6,207 Lot Size (sq. ft.): 23,958 Status: Closed
Current Price: $25,400,000 List Date: 11/06/2024 Last Modified: 1/13/2026

Overview

Description

BEAUTIFULLY REIMAGINED: This Bermuda gem evokes an island lifestyle and ambiance which is ideal for families and entertaining. The interior has been beautifully reimagined and is now in total harmony with the tropical gardens that surround the house. The home is the epitome of ''Palm Beach Chic'' in the truest sense. Architectural elements include soaring pickled wood ceilings throughout the house, outdoor covered loggias with a fireplace and an infinity pool which all create a magical setting overlooking 150' of water frontage. There is a separate pool house positioned alongside the water which consists of a large living room with vaulted ceilings, bedroom, bathroom, morning bar and outdoor gazebo for ''alfresco'' dining. The house was taken down to the studs in 2016 and SEE MORE:

Supplements: completely rebuilt with no expense spared. The renovation includes a cement slurry roof, all impact windows and doors, a new seawall, boat lift, 2 floating docks and a full house generator just to name a few. The outdoor lighting is exquisite throughout the garden and illuminates the water at night from the seawall. The effect is stunning. This is ...

Listing Details MLS# R11034636

General Property Information

Property Sub Type
Single Family Residence
Bedrooms Total
6
Bathrooms Total
6
Bathrooms Full
5
Bathrooms Half
Yes
Building Area Main
6207
Building Area Source
Other
Living Area Main
4890
Year Built
1955
Garage YN
Yes
Attached Garage YN
Yes
Garage Spaces
2
Covered Spaces
2
Gated Community YN
No
Lot Size Area
23962
Lot Size Acres
0.55
Lot Size Dimensions
150.0 ft x 159.0 ft
Senior Community YN
No
Waterfront YN
Yes
Outdoor Living Spaces YN
Yes
Stories Total
Yes
Stories
Yes
Direction Faces
East
Fireplace YN
Yes
Pool Private YN
Yes
Furnished
Unfurnished

Property Features

Electric: Three Phase Flooring: Wood Parking Features: Attached Garage; Garage Property Condition: Resale Appliances: Dishwasher; Disposal; Dryer; Free-Standing Freezer; Gas Range; Ice Maker; Microwave; Refrigerator Boat and Dock Features: Private Dock Construction Materials: CBS Cooling: Central Air Heating: Central Listing Terms: Cash; Conventional Other Structures: Cabana; Greenhouse Pets Allowed YN: Yes Pool Features: Heated Possession: Close Of Escrow Restrictions: No Restrictions Roof: Other Security Features: Security System Owned Tax Information: Homestead Exemption Water View: Intracoastal Waterfront Features: Intracoastal Window Features: Storm Window(s) Showing Requirements: Appointment Only; Call Listing Agent Outdoor Living Spaces: Patio Patio Details: Patio - Covered Contingencies: None Room Types: Kitchen; Living Room; Master Bedroom Acreage Description: 1/2 To Less Than 1 Acre Lot

Contract Information

Comp Sale YN
No
Listing Contract Date
2024-11-06
Original List Price
24900000

Location and Legal

Country
United States
County Or Parish
Palm Beach
County Parish Name
Palm Beach
Street Number
550
Street Name
Island
Street Suffix
Drive
City Name
Palm Beach
State Or Province
FL
Postal Code
33480
Postal Zip
33480
Subdivision Name
EVERGLADES ISLAND 3
Area
5003
Geographic Area
PB30
Special Assessment YN
No
Parcel Number
50434327030000361
Zoning
R-B(ci

Financial Information

Association Deposit YN
No
Membership Fee Required YN
No
Tax Annual Amount
118456
Tax Year
2023
Tax Legal Description
EVERGLADES ISLAND PL NO 3 S 50 FT OF LT 36 & LT 38

Remarks and Miscellaneous

Public Historical Remarks
Boat Services:Private Dock Y

More Information

Status Change Information

Major Change Timestamp
2025-01-08T18:07:26Z
Major Change Type
Status Change
Status Change Date
2025-01-08
Under Contract Date
2024-11-26
Close Date
2025-01-08
Close Price
25400000
Buyer Financing
Cash

Short Sale Details

Short Sale Addendum
No

Boat and Dock Information

Dock
Yes

Main Level Rooms

Main Level Bathrooms
5
Main Level Bedrooms
6

Storm Protection

Impact Glass
Partial

Showing Details

Pet(s) on Premises
No

Concessions

Seller Concessions
No

Contributions

Buyer Contributions
No

Room Types

Kitchen Level
Main
Living Room Level
Main
Master Bedroom Level
Main
Kitchen
Yes
Living Room
Yes
Master Bedroom
Yes

Price Calculations

Current Price To SqFt
5194.27
Original List Price To Close Price
0.98

Originating Details

Originating System Key
20241104233751334659000000
Originating System ID
M00000170

Office/Member Information

DXORIGMLSID
RML

Amenities

None
Yes

Electric

Three Phase
Yes

Flooring

Wood
Yes

Parking Features

Attached Garage
Yes
Garage
Yes

Property Condition

Resale
Yes

Other Structures

Cabana
Yes
Greenhouse
Yes

Possession

Close Of Escrow
Yes

Heating

Central
Yes

Water View

Intracoastal
Yes

Window Features

Storm Window(s)
Yes

Appliances

Dishwasher
Yes
Disposal
Yes
Dryer
Yes
Free-Standing Freezer
Yes
Gas Range
Yes
Ice Maker
Yes
Microwave
Yes
Refrigerator
Yes

Construction Materials

CBS
Yes

Listing Terms

Cash
Yes
Conventional
Yes

Pool Features

Heated
Yes

Roof

Other
Yes

Security Features

Security System Owned
Yes

Waterfront Features

Intracoastal
Yes

Boat and Dock Features

Private Dock
Yes

Cooling

Central Air
Yes

Showing Requirements

Appointment Only
Yes
Call Listing Agent
Yes

Master Bedroom/Bath

None
Yes

Pets Allowed YN

Yes
Yes

Restrictions

No Restrictions
Yes

Tax Information

Homestead Exemption
Yes

Outdoor Living Spaces

Patio
Yes

Patio Details

Patio - Covered
Yes

Contingencies

None
Yes

Acreage Description

1/2 To Less Than 1 Acre Lot
Yes

Room Information

Living Room Length: 0.00 Length: 0.00 Width: 0.00 Width: 0.00 Level: Main Kitchen Length: 0.00 Length: 0.00 Width: 0.00 Width: 0.00 Level: Main Master Bedroom Length: 0.00 Length: 0.00 Width: 0.00 Width: 0.00 Level: Main
Listing Office: Brown Harris Stevens of PB
IDX
Last Updated: January - 13 - 2026
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