Michael Emilio

Reed Krakoff, who is the executive creative director and co-president of the handbag and accessories company Coach, has placed on the market a six-acre parcel in Palm Beach on the Intracoastal Waterway in late July. Mr. Krakoff is asking slightly less than $20 million for the property, which includes 175 feet of unobstructed water frontage property and two acres of developable land. One of the unique aspects of this parcel is that it is one of the few large undeveloped parcels left in the Palm Beach Florida.

The land was originally purchased two years ago by Mr. Krakoff for $9.4 million from the estate of former nursing home developer Abraham Gosman, who declared bankruptcy in 2001. Another one of Abraham Gosman’s Palm Beach properties sold at auction to Donald Trump in 2004 for $41.4 million.

Mr. Krakoff’s property is in high demand due to the recent demand of undeveloped parcels in Palm Beach. A 3.9-acre ocean side parcel of land sold for just below $25 million and a two-acre property close to Mr. Krakoff’s parcel sold for $22.8 million.