NOT LISTED FOR SALE

940 N Lake Way Palm Beach, FL 33480

North End Neighborhood

Estimated Value: $51,497,784

0.8 Acre
$64,372,230 Price per Acre
34,848 Sq Ft Lot

Last Sold May 21, 2024

Last sale price $50,000,000 $6,713 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $329,442/month

124 Days on Market

Highlights

  • Dock has access to electricity and water
  • Property fronts an intracoastal waterway
  • 0.8 Acre Lot
  • Palm Beach Public School Rated A-

About This Lot

As of May 2024

Opportunity awaits to build your dream home on this expansive 34,848-square-foot lot, offering 128 feet of water frontage and a very high elevation. This prime location not only provides a canvas for your ideal home, but also boasts a deep-water concrete dock, providing the perfect haven for maritime enthusiasts. The dock is thoughtfully designed to accommodate larger vessels over 100 feet, along with multiple smaller vessels. The dock features a substantial 40,000-pound lift for larger boats, and an additional 15,000-pound lift for smaller boats. Experience the epitome of waterfront living with unparalleled views and amenities on this expansive property. Enjoy deeded beach access nestled between Sandpiper and Eden Road and access to the Lake Trail right out your back gate.

Last Listed By

Todd Peter

Sotheby's International Realty, Inc. License #BK-3049697 Listed on: 11/29/2023

Sotheby's International Realty, Inc.

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $396,632

Year Built

  • 1974

Lot Details

  • 0.8 Acre Lot
  • Property fronts an intracoastal waterway
  • Dirt Road
  • East Facing Home
  • Cleared Lot
  • Property is zoned R-B - Low Density Residential, R-B - Low Density

Property Views

  • Water Views

Outdoor Features

  • Bulkhead
  • Dock has access to electricity and water
  • Dock made with concrete

Utilities

  • Electricity To Lot Line
  • Gas Available

Listing and Financial Details

  • Assessor Parcel Number 50434310000010052

Property Details

Property Type

Land

Est. Annual Taxes

$396,632

Year Built

1974

Lot Details

0

Listing Details

  • Property Sub Type: Single Family/Residential Estate
  • Prop. Type: Land
  • Lot Size Acres: 0.8
  • Subdivision Name: N/A
  • Location Tax Legal:Zoned: R-B - Low Density Residential
  • Location Tax Legal:Taxes2: 396632.0
  • Location Tax Legal:Tax Year2: 2023
  • General Property Description:Waterfront: Yes
  • General Property Description:Lot Dim (1): 128
  • General Property Description:Lot SqFt: 34848
  • Exposure:East: Yes
  • Dock:Electric at Dock: Yes
  • Land Improvements:Electric at Site: Yes
  • Land Improvements:Water Available: Yes
  • WaterSewer:City Water at Site: Yes
  • Dock:Concrete: Yes
  • Dock:Water at Dock: Yes
  • Land Improvements:Gas Available: Yes
  • Miscellaneous:Waterview: Yes
  • Miscellaneous:Land Cleared: Yes
  • Waterfront:ICW-Across Bikepath: Yes
  • Miscellaneous:SeawallBulkhead: Yes
  • Street Type:Dirt: Yes
  • Special Features: None
  • Year Built: 1974

Exterior Features

  • Lot Features: 1/2 Acre to 1 Acre
  • Waterfront Features: ICW-Across Bikepath
  • Waterfront: Yes

Utilities

  • Utilities: Electric at Site, Water Available, Natural Gas Available
  • Water Source: City Water at Site

Lot Info

  • Lot Size Sq Ft: 34848.0
  • Parcel #: 50434310000010052
  • Zoning: R-B - Low Density
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 396632.0
  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 29, 2023
Closed on
May 21, 2024
Sold by
Hc Jones Living Trust and Jones Harvey Cooper
Bought by
940 N Lake Way Llc
Seller's Agent
Todd Peter
Sotheby's International Realty, Inc.
Buyer's Agent
Christian Angle
Christian Angle Real Estate
List Price
$59,000,000
Sold Price
$50,000,000
Premium/Discount to List
-$9,000,000
-15.25%
Total Days on Market
124
Views
267
Current Estimated Value
$51,497,784

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,497,784
Avg. Annual Appreciation
2.94%

Purchase Details

Listed on
Apr 12, 2023
Closed on
Jul 28, 2023
Sold by
Century Wines & Spirits Inc
Bought by
Century Wines & Spirits Inc
Seller's Agent
Mark Bennett
The Corcoran Group
Buyer's Agent
Todd Peter
Sotheby's Intl. Realty, Inc.
List Price
$55,000,000
Sold Price
$50,000,000
Premium/Discount to List
-$5,000,000
-9.09%
Views
267

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.00%

Purchase Details

Closed on
Jul 9, 2002
Sold by
Lehrman Susan and Blank Michael A
Bought by
Century Wines & Spirits Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,400,000
Interest Rate
6.75%

Purchase Details

Closed on
Dec 23, 1997
Sold by
Lehrman Susan
Bought by
Lehrman & Tr Susan

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
940 N Lake Way Llc $50,000,000 None Listed On Document
Century Wines & Spirits Inc $50,000,000 None Listed On Document
Century Wines & Spirits Inc $7,370,000 Phoenix Title Insurance Corp
Lehrman & Tr Susan $100 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Century Wines & Spirits Inc $2,500,000
Previous Owner Century Wines & Spirits Inc $150,000
Previous Owner Century Wines & Spirits Inc $1,500,000
Previous Owner Century Wines & Spirits Inc $7,000,000
Previous Owner Century Wines & Spirits Inc $1,700,000
Previous Owner Century Wines & Spirits Inc $3,400,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/21/2024 05/21/24 Sold $50,000,000 -9.1% $6,713 / Sq Ft
04/01/2024 04/01/24 Pending -- -- --
02/02/2024 02/02/24 Price Changed $55,000,000 -6.8% $7,385 / Sq Ft
11/29/2023 11/29/23 For Sale $59,000,000 -- $7,922 / Sq Ft
Source: Palm Beach Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $494,250 $33,089,831 -- --
2023 $396,632 $26,286,551 $23,633,440 $2,653,111
2022 $144,439 $9,232,131 $0 $0
2021 $146,977 $8,963,234 $0 $0
2020 $147,304 $8,839,481 $0 $0
2019 $147,039 $8,640,744 $0 $0
2018 $139,715 $8,479,631 $0 $0
2017 $139,802 $8,305,221 $0 $0
2016 $139,399 $8,134,399 $0 $0
2015 $144,177 $8,077,854 $0 $0
2014 $144,874 $8,013,744 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2024

    Todd Peter

    Sotheby's International Realty, Inc.

    (561) 659-3555

    14 in this area

    73 Total Sales

    Todd Peter
    Section Image

  • F

    Seller Co-Listing Agent in 2024

    FRANCES PETER

    Sotheby's International Realty, Inc.

    (561) 797-2427

    6 in this area

    34 Total Sales

    FRANCES PETER
    Section Image
  • Christian Angle

    Buyer's Agent in 2024

    Christian Angle

    Christian Angle Real Estate

    (561) 629-3015

    89 in this area

    223 Total Sales

    Christian Angle
    Section Image
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Map

Source: Palm Beach Board of REALTORS®

MLS Number: 23-1935

APN: 50-43-43-10-00-001-0052

Florida Palm Beach County Palm Beach 33480 North End

940 N Lake Way, Palm Beach, FL

Homes for Sale in Palm Beach, FL

This home is located at 940 N Lake Way, Palm Beach, FL 33480 since 29 November 2023 and is currently estimated at $51,497,784, approximately $6,914 per square foot. This property was built in 1974. 940 N Lake Way is a home located in Palm Beach County with nearby schools including Palm Beach Public School, Conniston Middle School, and Palm Beach Lakes Community High School.

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