The family of George Cohon, the businessman who built McDonald’s into Canada and helped open the chain in Russia, has cashed out of a waterfront Palm Beach estate on Tarpon Way for $27 million. The roughly half-acre spread fronts the Intracoastal, with a Mediterranean-style main house, guest space and a pool, turning a long-held piece of land into a massive payday compared with what the Cohons paid in the late 1990s.
Sale Reported By Business Journal
The $27 million closing was first reported by the South Florida Business Journal, which ran photos credited to Pelican Pix LLC on March 26, 2026. The report, edited by Brian Bandell, lays out the basics of the trade for the Palm Beach parcel.
From Listing To Closing
The property hit the market in early January with a $34.5 million asking price and was listed by Suzanne Trapani Frisbie of The Corcoran Group, according to the MLS entry shown on Zillow. That listing pegs the site at about 0.53 acres and credits it with roughly 295 feet of Intracoastal frontage, leaving room for substantial private docks and outdoor amenities.
A Large Gain Since 1997
Property records reviewed by The Real Deal show George and Susan Cohon paid about $3.4 million for the half-acre lot in 1997 and that the home dates to the mid-1990s. The reported $27 million sale works out to roughly a tenfold jump in value for the parcel over roughly three decades, a textbook example of what long-term waterfront holding power can look like on Palm Beach.
What This Means For The Palm Beach Market
The closing lands in the middle of a broader rush of high-end deals on the island this year, where a tight supply of waterfront land and steady ultra-luxury demand have helped keep prices lofty. Earlier 2026 market coverage flagged a run of seven- and eight-figure contracts in Palm Beach County, underscoring why prime shoreline still pulls in deep-pocketed buyers, according to Realtor.com.
The buyer was not publicly identified in the South Florida Business Journal report, which also carries the credited photographs of the estate and the listing details used to confirm the property’s size and waterfront footage. With this deal, another prized slice of Palm Beach waterfront quietly disappears from the active market during a busy season for luxury real estate on the island.
