Discover an exceptional opportunity to own a significant piece of Palm Beach's storied legacy on a majestic 24,164 sq ft (0.55-acre) estate in the coveted Estate Section. This rare gem, nestled between the shimmering Atlantic and the serene Intracoastal, offers an unparalleled canvas to create an architectural masterpiece or to reimagine the existing iconic villa by Marion Sims Wyeth. With its prestigious rear service drive and steps away from a privately deeded beach, this property is the epitome of Palm Beach luxury. Envision your dream estate in this exclusive enclave, where privacy, elegance, and the finest coastal living converge. A legacy awaits at this prime Palm Beach location, where discerning taste and opulent desires are not just met, but exceeded. A sweeping 4,237 sq ft of under air living space and a total building area of 5,276 sq ft unfolds across five sumptuously-appointed bedrooms, five lavish bathrooms, a functional office space with an adjoining bathroom in the main wing, and an enchanting guest wing with three bedrooms and a large den. Every detail is meticulously curated, from the luminous interiors adorned with rich wooden floors and high, majestic ceilings to rooms designed with an impeccable sense of scale and artistry. As you approach via the warm, inviting circular driveway, you're greeted by a side entry draped under a charming canopy that whispers promises of the luxury within. Step inside to uncover a world of effortless grace, where the grand living room, embraced by Pecky cypress paneling, a regal fireplace, and graceful bowed window, draws you into a space of timeless beauty. Hidden pocket screens and doors open onto a delightful loggia enclosed by glass walls and doors, a perfect blend of indoor opulence with outdoor charm. Adjacent lies the generous formal dining room, illuminated by oversized paned windows and enriched with private screened pocket doors. In the main wing, discover a spacious primary suite, a haven adorned with walk-in closets and a lavish bath featuring dual sinks, a calming jetted tub, and a separate elegant shower. The guest wing offers a private sanctuary with three inviting bedrooms, exquisite full baths, a large cozy den, and a laundry room, all designed with the discerning guest in mind. The gourmet kitchen, complete with a state-of-the-art 60" gas range, opens onto an east-facing patio, creating an idyllic setting for sunrise coffee or alfresco evening entertainment. The sprawling lawn, grand heated pool, and covered patio beyond offer a sun-drenched oasis of pleasure and relaxation. Located mere steps from private deeded beach access and in close proximity to Palm Beach's most upscale dining and shopping experiences, this estate is more than just a residence; it's a lifestyle statement. Included in the listing are architectural plans by Jackie Albarran from SKA Architects for expansion or renovation, offering the unique opportunity to breathe new life into this historical gem with Plan A: new under air 5,317 sq ft or Plan B: new under air 5,963 sq ft. You may also potentially be able to erect a brand-new grand estate that would stand as a testament to luxury, a beacon amongst the neighboring architectural masterpieces. Seize the chance to own a rare piece of Palm Beach history, wrapped in elegance, exuding style, and located at the very heart of luxury. This is not just a home; it's a living work of art on Palm Beach Island. *Please note that all measurements, square footage, and lot information provided herein have been obtained from tax records and are approximate estimates only. Buyers are encouraged to conduct their own research and verification of this information, and to consult with appropriate professionals to ensure accuracy. Agent and seller assume no responsibility for discrepancies or inaccuracies in the provided information.