The family of the late George Cohon, known for expanding McDonald’s franchises internationally, sold a waterfront lot in Palm Beach for $27.5 million, according to records from Mar. 26.
This sale highlights continued interest in prime real estate and vacant land in Palm Beach, an area that has seen several high-value transactions recently.
Records show the Cohons sold the half-acre lot at Tarpon Way to Could Be 81 LLC, managed by attorney Brian Chesky. Suzanne Frisbie with the Corcoran Group listed the property, while Liza Pulitzer and Whitney McGurk represented the buyer. The listing shows that the lot spans half an acre with 255 feet of waterfront.
George Cohon was recognized as McDonald’s first international franchisee, especially noted for bringing McDonald’s to Russia after years of negotiations. He bought his Palm Beach home at 614 Tarpon Way for $3.6 million in 1997 and later expanded his estate by purchasing the adjacent lot for $2.6 million in 1998.
The recently sold lot was initially listed at $29.5 million last October, according to Redfin data. The main estate at 614 Tarpon Way—which includes an 11,500-square-foot mansion and a guest house—is also under contract after being listed for $34.5 million this January; Frisbie is handling that listing as well.
Recent activity suggests strong demand continues for luxury properties and land parcels in Palm Beach. Last week saw a pair of adjacent lots totaling one acre go into contract with a combined asking price of $36.1 million; other deals include Kim Bepler’s purchase of a lakefront home for $30 million and Mark Marcello’s acquisition of a larger estate within the Mar-a-Lago Security Zone for $36 million.
