Isle of Palms home sells for $6.4 million, breaking record

Isle of Palms home sells for $6.4 million, breaking record

ISLE OF PALMS, SC (WCSC) - Daniel Ravenel Sothby's International Realty announced a record-breaking home sale on the Isle of Palms Wednesday.

The 6758 square foot property on Ocean Boulevard, which is considered to be the most exclusive stretch of oceanfront real estate, sold at $6.4 million and was paid for in a cash transaction.

This translates to $947 per square foot.

The sale represents the highest price ever paid for a single-family home on the Isle of Palms, according to Charleston Trident Multiple Listing Service.

The home is situated on a 1.45-acre oceanfront lot, has six bedrooms and five bathrooms.

Interior furnishes include an indoor theater system, private wine tasting room, large oceanfront master bedroom and even a putting green.

"We have seen a notable upswing in demand for high-caliber beachfront homes on both Sullivan's Island and Isle of Palms, which are in very limited supply right now," according to Middleton Rutledge, who specializes in listing exclusive, luxury waterfront and historic property. "We are now piercing the six million dollar price point on the Isle of Palms and Sullivan's with products of this quality and finish. When you compare this to other luxury oceanfront markets, Charleston's barrier island market is well positioned for continued growth,"

According to Charleston Trident Multiple Listing Service, Daniel Ravenel Sotheby's International Realty currently holds the record for the highest price pain in Downtown Charleston, $7.7 million, Kiawah Island, $15.25 million, and now on Isle of Palms

Copyright 2017 WCSC. All rights reserved.