Wynn sells lot for more than $20M

PALM BEACH — Casino and hotel magnate Steve Wynn has sold a vacant lakefront lot with a vintage boathouse at 1350 S. Ocean Blvd. in Palm Beach for $20.274 million, according to a deed recorded Tuesday. The lot is about a half-mile south of President Donald Trump’s Mar-a-Lago on the stretch of coastal road known as Billionaires Row.

The buyer is attorney Stuart R. Morris, acting as trustee of the 1350 South Ocean Blvd. Land Trust based in Boca Raton. Wynn sold the property through Apava Lot 4, LLC, a Florida company that bought the property for a recorded $20 million in 2014.

Broker Lawrence Moens of Lawrence A. Moens Associates represented the seller’s side in this week’s off-market deal, his office confirmed.

Agents Dana Koch and Paulette Koch of The Corcoran Group represented the buyer, Dana Koch confirmed, but he declined to comment further.

The property measures about 1.5 acres, with about 220 feet of frontage on the Intracoastal Waterway, property records show. The lot had been for sale for more than three years, marketed by Moens for much of that time in the local multiple listing service.

The billionaire used his ownership company to buy it in July 2014, the first of four property sales — all handled by Moens — through which Dwight and Martha Schar divested themselves of their landmarked estate, Casa Apava, for a grand total of more than $116 million.

Eight months after Wynn bought the lot, he listed it for sale at $26.5 million.

The lot was listed at $24.5 million in February before it was taken off the market.

In February, Wynn resigned as chairman and chief executive officer of Las Vegasbased Wynn Resorts amid allegations of sexual misconduct, including coercing some female employees into sexual activity, over many years. He has denied the allegations.