Max Weinberg, the longtime drummer for Bruce Springsteen’s E Street Band, and his wife, Rebecca, have sold two adjoining waterfront parcels in Ocean Ridge, Florida, for $13 million. The off-market transaction involved more than 33,000 square feet of land and about 325 feet of Intracoastal frontage, underscoring demand for scarce luxury development sites in Palm Beach County.
Key takeaways
The sale highlights the premium placed on large, buildable waterfront parcels in South Florida.
- The property consists of adjoining lots at 7 and 9 Sabal Island Drive.
- The parcels span more than 33,000 square feet and roughly 325 feet of shoreline.
- The buyer reportedly discovered the opportunity privately and closed within days.
- The buyer’s identity has not been disclosed.
A rare waterfront development opportunity
The property offers deep-water dockage, a recently rebuilt seawall and access to the Atlantic Ocean through the nearby Boynton Inlet. Its size and continuous waterfront frontage could allow the purchaser to develop a large custom residence or a multigenerational family compound.
The land was not publicly listed, according to reports. A buyer familiar with the opportunity reportedly acted quickly after discovering it, illustrating how sought-after properties can change hands before reaching the broader market. Nick Malinosky and Michael O’Connor of Douglas Elliman’s Exclusive Group represented both sides of the transaction.
Rising value of Palm Beach County waterfront land
Large, contiguous waterfront sites have become increasingly difficult to find across Palm Beach County. LandSearch data cited in reports places the average asking price for waterfront land in the county above $10.8 million, although values vary significantly based on location, frontage, access and development potential.
Construction costs can also be substantially higher on waterfront sites. Specialized foundations, flood-resilience requirements, pilings and seawall work can add 15% to 30% compared with similar inland projects.
The market’s appetite for land was evident in 2024, when the private island 10 Tarpon Isle sold for $152 million. Ocean Ridge and neighboring communities have also attracted prominent owners and buyers, including Oracle co-founder Larry Ellison, WeatherTech founder David MacNeil, Fox News host Sean Hannity and motivational speaker Tony Robbins.
Weinberg’s career beyond music
Weinberg, 75, joined Springsteen’s E Street Band in 1974 after answering an advertisement and winning the drummer’s position through an audition. He has remained a central member of the band while building a second television career as Conan O’Brien’s bandleader on “Late Night” and “The Tonight Show” from 1993 to 2010.
Real estate has been another long-running interest. Weinberg has bought, built and sold numerous homes and serves on the Planning and Zoning Board in nearby Delray Beach, where he owns a residence. The Ocean Ridge sale adds another notable transaction to his property portfolio.