A lakefront home located on the most elevated street in Florida’s Palm Beach just sold for its land value of $15.2 million.

A lakefront home on the highest street in Palm Beach just sold for its land value of $15.2 million.

The house, which was built in 1951 and sits on the street with the highest elevation in Palm Beach, sold for its land value of approximately $5,147 per square foot. While the home itself is a simple three-bedroom, red-brick property, its elevation and 0.66-acre lot likely made it attractive to investors. Hi-Mount Street is known for its views of the nearby Intracoastal Waterway

“An extraordinary new opportunity to build your dream at the highest elevation on the island,” reads the listing. “Sensational lake views which are jaw dropping. Two-thirds of an acre of blue chip waterfront investment.”

Realtor.com

Lawrence Moens of Lawrence A. Moens Associates represented the seller, Dr. Andreas Brandt. The buyer was Florida limited liability company Hi Mount LLC. The exact owner of the company is, according to the Palm Beach Post, is concealed and protected by confidentiality agreements. He was represented by Jeremy Browne of Compass’ Hughes Browne Group.

Brandt’s trust has had control over the home since 2016, when his wife Odette Nicole LaBrune Humphreys Brandt passed away. She had immigrated to Florida from France and had been living in the home since 1976 — first with a former husband and, later, with Brandt.

While the home has a long family history, it will most likely be torn down to build something larger — even amidst the coronavirus pandemic, Palm Beach has been seeing a flurry of luxury real estate activity from affluent buyers looking to get away from dense and locked-down cities.

Email Veronika Bondarenko

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