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Spec Developers Produce Waterfront Mansions at Royal Palm Yacht
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It’s been a busy year for real estate sales at Royal Palm Yacht
The closed golf network is the most expensive network in Boca Raton and the epicenter of the city’s luxury market. Spanning 450 acres and featuring fewer than 700 homes, the network includes a personal club of the same name with a Jack Nicklaus-designed golf course and marina. Its 24/7 armed security patrol is very popular among the wealthy classes.
Beachfront mansions in Royal Palm have damaged value records in recent years. Boca Raton has other luxury gated communities, such as Sanctuary, where software mogul Oleg Movchan sold a domain for $29 million in February. But none have the same appeal as Royal Palm, and none have noticed as many eight-figure deals this year.
Part of the phenomenon, agents say, is that South Florida luxuries have an insatiable appetite for luxury homes, and Royal Palm has a lot to offer.
“It’s a wonderful playground for investors, developers [and builders],” said Carmen D’Angelo, broker and co-owner of Premier Estate Properties. Luxury buyers don’t have the time or patience for the home-building procedure, she said. “People come to Florida and need instant gratification. “
Royal Palm’s most prolific spec developers are brothers Steve and Scott Dingle, owners of the SRD building. The Dingles have carved out a niche for themselves creating homes for Royal Palm buyers. Her former spouse and agent, David Roberts of Royal Palm Properties, has also made closed-net home development his specialty. It proved lucrative: Roberts ranked as the smartest agent in The Real Deal’s 2023 Palm Beach County Broker Rankings, with $349. 8 million in closed market deals.
Roberts, Royal Palm Yacht agent.
“I’ve never sold a space to a lottery winner,” he said in a previous interview. “The others have done well. “
Here are Royal Palm’s biggest home sales this year:
Randy Parker, founder of email marketing giant Constant Contact, set a record value for Boca Raton in May when he sold his longtime family home (a teardown) for $36 million. Parker and his siblings, Robin Parker and Suzanne Maddux, sold the waterfront mansion at 2499 East Maya Palm Drive to the Dingles, who are making plans for a luxury assignment on the 1. 7-acre site. The existing complex includes a 9,500-square-foot mansion, a guest house, two pools and 440 feet of beach front, according to the listing.
Jill Hertzberg and Jon Mann of Coldwell Banker Realty’s Jills Zeder Group represented the dealers and Roberts represented the buyers.
Earlier this month, a company bearing the company’s name sold a speedy mansion at 360 East Alexander Palm Road built across Dingles for $28. 5 million, records show. Another accepted man, also named after the house, bought the house. The genuine customer and distributor are hidden. The Dingles finished the 10,700-square-foot, half-acre mansion earlier this year. The oceanfront home features seven bedrooms, seven bathrooms, three bathrooms, a pool, and a dock.
Joe Liguori of Premier Estate Properties brought the client in and Roberts received the listing.
Hotelier Mikhail Avrutin sold the beachfront mansion at 444 East Alexander Palm Road for $28. 5 million in April. A name named after the company with which he purchased the 9,900-square-foot mansion, which was completed last year, records show. acres, has six bedrooms, seven bathrooms, one partial bathroom, a pool and a dock, according to property records. Avrutin purchased the site for $5. 5 million in 2020.
Adam Elmer and Marie Mangouta of Fortune Christie’s International Real Estate represented either transaction.
One fact is that he sold the Dingles-built waterfront mansion at 480 East Alexander Palm Road for $26. 5 million in April. Records show one accepts as true when selling the house to another, with the customer and dealer hidden. SRD Building completed the 8,900-square-foot, six-bedroom, seven-bathroom mansion earlier this year, records show. The 0. 4-acre assets include a pool, dock, two half-bathrooms, a four-car garage plus a golf cart and 104 feet of ocean frontage.
Roberts had the listing and Ina Bloom of Compass the buyer.
In March, the founder of the Sheetz convenience shop chain sold a waterfront mansion for $25. 9 million. G. Robert Sheetz sold the space at 415 East Alexander Palm Road to a trust, records show. The genuine customer is unknown. Sheetz spent $4. 5 million on the part-acre assets in 2019 and finished the 10,700-square-foot waterfront mansion last year, according to assets records. The mansion features six bedrooms, 8 bathrooms, a part bathroom, a swimming pool, a dock and a 900-bottle wine cellar.
Roberts represented either deal.
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