Lot sells with house plans for nearly $15M in Palm Beach: deed

A developer won the town's approval late last year to build this house on a lot at 125 El Bravo Way in the Estate Section. The lot and architectural plans just changed hands for a reported $14.75 million, and the house will be completed for the buyer, according to sources familiar with the transaction.

An investment group led by a developer has sold a lot with town-approved plans for a house in the Estate Section’s newest subdivision for a recorded $14.75 million.  

And the new owners — technology executive James Sankey and his wife, Beth — have contracted with a builder to complete the 10,000-square-foot house, which is already in the early stages of construction, according to courthouse records and sources familiar with the transaction in Palm Beach. 

Developer and real estate investor Braden G. Smith sold the property at 125 El Bravo Way, which he and his group owned through a limited liability company, property records show. Smith declined to identify the buyers or his investors.

The midblock lot is on the stretch of El Bravo Way between South Ocean Boulevard and South County Road, about a third of a mile south of Worth Avenue.