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550 Island Drive, Palm Beach FL 33480

House Recently Sold
$25,400,000

BTC: 331.76593521

ETH: 11,288.88888889

Sold on: 2025-01-08
20 days
Waterfront
6 bds
5 ba
4,890 sqft

Overview

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: 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 island living at its best.

Location

Details

Type:
Residential
Parking:
2 Or More Spaces / Parking Garage
Year Built:
1955
Lot:
0.55 Acres
Heating:
Central
Price/sqft:
$5,092
Cooling:
Central Air
HOA:
No Data

Valuation

Recent sales nearby
16 public-records sales within 0.5 mi
Median actual sale: $5.7M
Not enough MLS comparables for a model estimate on this property. Public-records data shown instead.

Highlights

Annual tax
$118,456
2023
Pool
Heated
View
Intracoastal View
Waterfront
Intracoastal Front
Garage
2 car garage
Pets
Allowed
All facts and features
  • Flooring

    • Wood

    Heating

    • Central

    Cooling

    • Central Air

    Appliances

    • Dishwasher

    • Disposal

    • Dryer

    • Free-Standing Freezer

    • Ice Maker

    • Microwave

    • Gas Range

    • Refrigerator

    Bedrooms and bathrooms

    • Bedrooms: 6

    • Bathrooms: 1

    • Full bathrooms: 5

  • Parking

    • 2 Or More Spaces

    • Parking Garage

    Property

    • Levels: 1

    • Pool Private: Yes

    Lot

    • Lot: 0.55 Acres

    Other Property Information

    • Parcel Number: 50434327030000361

    • Zoning: R-B(ci

  • Type and style

    • Property Type: Residential

    • Property Sub Type: Single Family Residence

  • Other financial information

    • Annual tax amount: $118,456

  • Source details

    • MLS ID: R11034636

    Other facts

    • Construction Materials: CBS Construction

    • Lot Features: 1/2 To Less Than 3/4 Acre Lot

    • Patio And Porch Features: Patio

    • Pool Features: Heated

    • Window Features: Partial Impact Glass

    • Direction Faces: East

    • Other Structures: Livable / Greenhouse

    • Waterfront: Yes

    • Garage Spaces: 2

    • Attached Garage: Yes

    • Garage: Yes

    • Living Area: 4890

    • Subdivision Name: EVERGLADES ISLAND 3

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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: Brown Harris Stevens of PB