$24,900,000
For Sale

550 Island Drive

Palm Beach, FL 33480
4890 sqft | 6 beds | 5.5 baths | #RX-11034636
Browse 18 photos
Type:Purchase
Structure:House
Zone:Residential

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: 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.

  • Interior Details
      • InteriorFireplace(s)
    • Heating & Cooling
      • CoolingCentral
      • HeatingCentral
    • Beds & Baths
      • Bathrooms5.5
      • Bedrooms6
      • Full Baths5
      • Half Baths1
  • Property Details
      • Exterior FeaturesCabana, Covered Patio, Green House
      • Exterior MaterialsCabana, Covered Patio, Green House
      • ViewIntracoastal, Other
      • Lot Features1/2 to < 1 Acre
      • Lot Description1/2 to < 1 Acre
      • Pool FeaturesPrivate Pool
      • Pool1
    • Measurements
      • Square Feet4890
    • Parking
      • Parking TypeGarage
      • Parking Spaces2
      • Parking Garage1
  • Construction Details
      • Property TypePurchase
    • Condition
      • Year Built1955
  • Utilities / Energy Details
      • Utility FeaturesElectricity Connected
  • Community and Neighborhood Details
      • SubdivisionEVERGLADES ISLAND 3
    • Location
      • CountyPalm Beach
      • ZoningR-B(ci
  • Financial Details
      • Original List Price$24,900,000
      • Taxes Annual$118,456
  • Other
      • MLS #RX-11034636

Location

Mike MehdipourThe Mehdipour Group
$
years

Down Payment

$
%
10.0%

Interest Rate

%
6.0%

Tax Rate

%
2.6%
$
$
annually
$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

Estimated Monthly Payment
$0.00
Loan Amount
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