Property Detail
Location Address : 550 ISLAND DR
Municipality : PALM BEACH
Parcel Control Number : 50-43-43-27-03-000-0361
Subdivision : EVERGLADES ISLAND PL 3 IN
Official Records Book/Page : 35489 / 1683
Sale Date : 01/08/2025
Legal Description : EVERGLADES ISLAND PL NO 3 S 50 FT OF LT 36 & LT 38
Owner Information
Owner(s) Mailing Address
260N PROPERTY LIMITED PARTNERSHIP
 1128 YONGE STREET 2ND FLOOR TORONTO ON M4W 2L8 CANADA
Sales Information
Sales Date Price OR Book/Page Sale Type Owner
01/08/2025 $25,400,000 35489 / 01683 WARRANTY DEED 260N PROPERTY LIMITED PARTNERSHIP
06/06/2014 $9,000,000 26859 / 00746 WARRANTY DEED THORNBURGH RICHARD E &
05/30/2002 $4,190,000 13784 / 00844 WARRANTY DEED KEAN IAN M
05/01/2000 $3,500,000 11756 / 00402 WARRANTY DEED WOLF STEPHEN M
01/01/1980 $100 03291 / 00209
Exemption Information
Applicant/Owner(s) Year Detail
THORNBURGH RICHARD E & 2025 HOMESTEAD
THORNBURGH RICHARD E & 2025 ADDITIONAL HOMESTEAD
Property Information
Number of Units : 2
*Total Square Feet : 6617
Acres : .55
Property Use Code : 0100—SINGLE FAMILY
Zoning : R-B—LOW DENSITY RESIDENTIAL (50-PALM BEACH)
Building Details

Structural Details

Structural Element for Building 1
Exterior Wall 1 MSY: CB STUCCO
Year Built 1955
Air Condition Desc. HTG & AC
Heat Type FORCED AIR DUCT
Heat Fuel ELECTRIC
Bed Rooms 6
Full Baths 5
Half Baths 1
Exterior Wall 2 NONE
Roof Structure WOOD TRUSS
Roof Cover CONCRETE TILE
Interior Wall 1 DRYWALL
Interior Wall 2 N/A
Floor Type 1 HARDWOOD
Floor Type 2 N/A
Stories 2
Subarea and Square Footage for Building 1
Code Description square Footage
FUS Finished Upper Story 56
FUS Finished Upper Story 42
FUS Finished Upper Story 1022
FST Finished Storage 40
FOP Finished Open Porch 315
FOP Finished Open Porch 48
FGR Finished Garage 784
BLC Balcony 42
BAS Base Area 3338
BAS Base Area 154
Total Square Footage 5841
Area Under Air 4612
Sketch for Building 1
Building 1 Layout

Property Extra Feature

Description Year Built Units
Wall 1955 310
Patio 1955 1350
Patio Roof 1955 600
Pool - In-Ground 2016 1
Outdoor Fireplace 2016 1
Boat Lift 2022 1

Property Land Details

Land Line # Description Zoning Acres
1 INTRACOASTAL CANAL R-B 0.5501
Appraisals
Tax Year 2025 2024 2023 2022 2021
Improvement Value $1,993,043 $467,250 $468,971 $315,158 $229,141
Land Value $18,783,350 $21,918,092 $20,918,092 $17,943,720 $10,663,535
Total Market Value $20,776,393 $22,385,342 $21,387,063 $18,258,878 $10,892,676
Assessed and Taxable Values
Tax Year 2025 2024 2023 2022 2021
Assessed Value $8,377,882 $8,141,771 $7,904,632 $7,667,604 $7,444,276
Exemption Amount $50,722 $50,000 $50,000 $50,000 $50,000
Taxable Value $8,327,160 $8,091,771 $7,854,632 $7,617,604 $7,394,276
Taxes
Tax Year 2025 2024 2023 2022 2021
AD VALOREM $123,994 $120,486 $118,080 $118,199 $120,145
NON AD VALOREM $414 $388 $376 $1,498 $2,000
TOTAL TAX $124,408 $120,874 $118,456 $119,697 $122,145
Dorothy Jacks, CFA, AAS  PALM BEACH COUNTY PROPERTY APPRAISER   www.pbcpao.gov