The King of Queens is now the King of Delray Beach!

Story by Michael Bode

Posted: 08/14/2012

Comedian Kevin James has been reported to be a buyer of a Delray Beach Mansion on Ocean Blvd by the Palm Beach Post.

King of QueensThe Post states that sources say that Kevin James purchased 502 N Ocean Blvd for $18.5 million dollars.  The Estate has a reported floorplan of 25,834 sq. ft. that sits on 1.8 acres directly across from the beach.

The Palm Beach Post reports that the property last sold in June 2005 for $4.9 million, but this transfer was not an arm’s length as it was transferred back to the original owner from 2002 UDERITZ DONALD S  GREGERSON JULIE. 

Further, these transfers represented vacant land as the subject's dwelling was built in 2008.  The Palm Beach Post article left the reader thinking that the new King of Delray Beach paid too much with a purchase price of $18.5 million. So, we at FastFloridaAppraisals.com did a little digging in the Local MLS system.

The subject property was not listed in the local MLS so we could not confirm the details of the transaction or the features with photographs.  Google Aerials provides a good gauge with the Google Street Scene photograph showing a shot of the front of the estate.

502 N Ocean Blvd

Now, let’s look at what is available on Ocean Dr that has similar property features. 

969 S Ocean Blvd

Active for $19.5 million

11,469 sq. ft. of living area with 2.1 Acres

969 rear969 Aerial 969 front

1111 S Ocean Blvd

Active for $19.5 million

14,742 sq. ft. of living area with 1.1 Acres

1111-Aerial1111-front 1111-rear

This is the last sale in the local MLS in Delray Beach on Ocean Blvd.

1103 S Ocean Blvd

Sold for $15.75 million

14,409 sq. ft. of living area with 1.4 Acres

1103-aerial 1103 front

This is the last sale with a similar sized floorplan in the local MLS.

820 S Ocean Blvd

Sold for $25.5 million

21,674 sq. ft. of living area with 2.0 Acres

820-aerial820 Front

We don’t know how much the New King of Delray Beach’s property is worth, but the sale price is definitely within range of activity along Ocean Dr in the area.  One thing is for sure, the King of Queens is living like a King in South Florida and deserves the title of King of Delray Beach.

If you live or own an asset on Ocean Dr in Delray Beach and would like to talk to a professional appraiser, please contact us.