The family of George Cohon, the late entrepreneur known for expanding McDonald’s franchises internationally, sold a waterfront lot in Palm Beach for $27.5 million, according to a Mar. 26 report.
The sale reflects continued interest in high-value properties and vacant land in Palm Beach. The Cohons’ primary estate is also under contract to sell.
Records show the half-acre lot at Tarpon Way was sold by the Cohon family 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.
George Cohon was recognized as McDonald’s first international franchisee and is credited with bringing the brand to Canada and later Russia after years of negotiations that led to opening in Moscow in 1990. He passed away in 2023. Property records indicate he purchased his Palm Beach home at 614 Tarpon Way for $3.6 million in 1997 and acquired the adjacent lot for $2.6 million a year later.
The recently sold lot covers half an acre with about 255 feet of waterfront frontage, according to its listing details. It was initially listed for $29.5 million last October on Redfin. The main estate at 614 Tarpon Way includes an approximately 11,500-square-foot mansion, guest house, dock, pool, and nearly 300 feet of waterfront; it went on the market for $34.5 million earlier this year and is currently pending sale with Frisbie also handling that listing.
Recent activity suggests increased demand for vacant land in Palm Beach: last week two adjacent lots totaling one acre were contracted together after being listed at a combined price of $36.1 million.
Other notable transactions this season include Kim Bepler’s purchase of a lakefront home from descendants of Flagler National Bank founders for $30 million and financier Mark Marcello’s acquisition of a Mar-a-Lago Security Zone estate for $36 million.
