A wonderful Palm Island lot sold recently for $3,695,000. Although there is a 3,500 square foot house sitting on the property located at 1 Palm Ave., which boasts 110 feet of waterfront on a 17,674 ft lot, it was sold for lot value. Priced at $4,495,000, it closed at $800,000 below the asking price. Palm Island is a very prestigious location on Miami Beach. Think you can't make a great deal in today's real estate market? Think again.
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