92 Island Drive S, Ocean Ridge, FL, 33435 | $3,499,999

Perfectly positioned for boaters seeking effortless ocean access, this exceptional buildable waterfront lot sits on a quiet cul-de-sac in the coveted McCormack Mile section of Ocean Ridge only a few hundred yards from the Boynton Inlet and the town of Manalapan. Offering direct waterfrontage and a desirable southeast exposure, the property spans nearly 10, 500 square feet, capturing brilliant light and shimmering water views. This rare opportunity is being offered with a brand-new seawall and cap, along with fully approved plans for a two-story contemporary residence by the award-winning team at Affiniti Architects. Their thoughtfully conceived design embraces clean modern architecture, seamless indoor-outdoor living, and the amenities expected of a true boater's and angler's paradise. The future residence commands nearly 5, 000 total square feet and is surrounded by some of the newest and finest homes in Ocean Ridge, further elevating its long-term value and appeal. As a resident of McCormack Mile, you'll also enjoy access to a private oceanfront Beach House, a freestanding clubhouse for the exclusive use of neighborhood residents, perched high above the turquoise waters of the Atlantic and offering an unmatched seaside retreat. All site surveys, soil tests, development entitlements, and preliminary plans (including floorplans, site plan, and basic civil engineering) are transferable to the new owner. The buyer will be responsible only for completing final construction drawings, MEPs, and final civil engineering prior to building-permit submission. Ideally located, the property is just 15 minutes to PBIA, 10 minutes to Delray Beach, and moments from the Town of Palm Beach, world-class dining, boutique shopping, and pristine beaches. Whether arriving by boat or by car, this quiet tropical enclave offers the privacy, serenity and convenience synonymous with the best of South Florida living. A build-to-suit opportunity of this caliber is exceptionally rare, create your waterfront masterpiece and experience the quintessential Ocean Ridge lifestyle.

Features

  • Amenities: Boating, Jogging Path
  • Zoning: RSF(ci
  • Development: Ocean Ridge
  • Lot Desc: Cul-De-Sac, Corner Lot, Interior Lot, Cleared
  • View: Canal, Intracoastal
  • Water Front: Yes
  • Boat Service: Private Dock
  • MLS#: R11158120
  • Website: https://www.raveis.com
    /prop/R11158120/92islanddrives_oceanridge_fl?source=qrflyer
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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
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92 Island Drive S, Ocean Ridge, FL, 33435

$3,499,999

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $2,799,999 $2,799,999 $2,799,999
Term 360 months 360 months 180 months
Initial Interest Rate** 5.875% 6.125% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.132% 6.259% 6.183%
Monthly Tax Payment N/A N/A N/A
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $16,563 $17,013 $23,628
Total Monthly Payment $16,688 $17,138 $23,753

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.