EVERGLADES ISLAND 3

550 Island Drive, Palm Beach FL 33480

6 beds · 5.5 baths · 4,890 ft²

Closed

$24,900,000

Est. Payment $132,528/mo

MLS Sheet Video

6

Bedrooms

5.5

Bathrooms

4,890

Sq. Ft.

1955

Year Built

2

Garage

1

Stories

20

Days on Market

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.

Facts

MLS#
R11034636
Subdivision
EVERGLADES ISLAND 3
Property Type
Residential
Property Sub Type
Single Family Residence
Year Built
1955
Lot Size
23,958 ft²
Sq. Ft.
4,890 ft²
Sq. Mt.
454 m²
Price per sq. ft.
$5,092/ft²
Price per sq. mt.
$54,846/m²
Stories
1
Garage
2 spaces
Pool
Private
Days on Market
20 days
Listed
Nov 6, 2024
Last Updated
Aug 13, 2026
Price/Lot Sq.Ft.
$1,039/ft²

Comparable homes

Same ZIP, similar price + bedrooms.

Market insights for Palm Beach

Live MLS-derived activity. Forecast is a conservative rule-of-thumb estimate — not a guarantee.

Sellers market

September 2026

100/100
Buyers marketSellers market

72

Median days to sold

+4.5%

1-year price forecast (est.)

Price & tax history

From the live MIAMI MLS feed. Older history requires the ListingHistory resource (not yet enabled).

8/13/2026Sold$24,900,000
11/6/2024Listed for sale$24,900,000

History reflects fields present on the live MLS record. Full multi-year history requires the MIAMI ListingHistory resource (not yet enabled).

Location

550 Island Drive, Palm Beach FL 33480Directions

Estimated Monthly Payment

$153,428/mo

Principal & Interest

$132,528

Property Tax

$20,750

Insurance

$150

HOA

$0

20% ($4,980,000)
7.00%
30 years
1.00% (FL avg ~1.0%)
$0/mo
$150/mo

Estimates only. Actual payment depends on credit, lender, insurance carrier, and FL/Miami-Dade specifics. Contact Rangely for a precise quote.

Rangely Adames

Rangely Adames

Sales Associate | Sunland Group

Hablo Español

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