Oceanfront Delray Beach land trades for $10.8M

An oceanfront residential parcel in Delray Beach changed hands for $10.8 million.Michael and Robin Gusky sold the 1.2-acre property at 705 South Ocean Boulevard in a transaction recorded on Tuesday, according to Palm Beach County records. The couple paid $8 million for the parcel in November 2005. The property’s zoning allows for the construction of a large single-family home.CMR Holdings is the buyer. The company is registered in Virginia but has a Greenwich, Conn. mailing address. No financing was recorded.