I
n a bold move, legendary boxing promoter Don King is throwing his hat back into the real estate ring with the listing of a 52-acre property in Mangonia Park, Palm Beach County. The site, once home to the Palm Beach Jai Alai fronton, has been on the market before but never quite landed a knockout deal.

    With an asking price that's anyone's guess, King is banking on investors who see potential in the Opportunity Zone-located property. The site's current zoning may be limited, but insiders suggest that a code rewrite could unlock its full development potential, paving the way for higher-density projects and more uses.

    King purchased the land for $6.3 million back in 1999, and while he's had his share of close calls with would-be buyers, nothing seems to have stuck. In 2015, FRI Investors was poised to take the property off his hands, but King nixed the deal over concerns about industrial use.

    Now, with a Tri-Rail station nearby and an Opportunity Zone designation that could shield investors from capital gains taxes, the site is ripe for redevelopment. Art Porosoff of the Miami-based Porosoff Group is handling the listing, and sources close to the deal say King is expecting offers in the range of $2 million per acre – a price tag that would put the property's value at around $104 million.

    Despite past setbacks, King remains optimistic about the site's prospects. As he steps back into the real estate fray, one thing is clear: this 52-acre property has the potential to be a major player in Palm Beach County's development landscape.