arts
Vacant lot from Bob Vila’s former Palm Beach estate fetches $39M
By The Real Deal
· June 26, 2026
· 1 min read
This old house in Palm Beach was demolished last year, and it appreciated $6.2 million. A vacant home lot at 690 Island Drive in Palm Beach sold for $39.2 million, appreciating $6.2 million from its sale a year ago. The 0.84-acre lot was previously home to a lakefront estate owned by home improvemen
Key takeaway A vacant home lot at 690 Island Drive in Palm Beach sold for $39.
Why this matters in The Miami
The sale of the vacant lot at 690 Island Drive in Palm Beach for $39.2 million has significant implications for the local real estate market in South Florida. Although the property is located in Palm Beach, the hefty price tag and rapid appreciation of the lot's value may have a ripple effect on the luxury real estate market in neighboring Miami . Miami's own high-end neighborhoods, such as Miami Beach and Brickell, may see increased interest and investment from buyers looking for similar waterfront properties. The demolition of the former estate, which was once home to Bob Vila, also raises questions about the preservation of historic properties in the area and the trend of tearing down older homes to make way for new developments. As Miami continues to grow and attract new residents, the demand for luxury properties and the fate of its own historic neighborhoods will be worth watching.
About this story
Original reporting by The Real Deal . The Miami surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit The Real Deal . Have a tip or correction? Contact our newsroom .
Category: arts ·
Published: June 26, 2026 ·
Source: The Real Deal ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? This old house in Palm Beach was demolished last year, and it appreciated $6.2 million. A vacant home lot at 690 Island Drive in Palm Beach sold for $39.2 million, appreciating $6.2 million from its sale a year ago. The 0.84-acre lot was previously home to a lakefront estate owned by home improvemen
When was this published? This article was first published on June 26, 2026 by The Real Deal and curated for The Miami readers.
Who reported this story? This story was reported by The Real Deal. To learn more about how The Miami selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more arts coverage from The Miami, or browse our daily briefing and topic hubs .
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