Business

Florida Mansion For $ 30 Million This Year Sets New Sales Record Twice This Year

3715 S. Ocean Boulevard in Highland Beach is a three-tiered storm-resistant fortress built on stilts and constructed of cast concrete and storm-proof glass.

Daniel Petroni

The Highland Beach Waterfront Megahome has been sold twice this year and has raised the bar each time for this South Florida city to become one of the most popular real estate markets in the state.

Located in eastern Palm Beach County, Highland Beach is just over 1 square mile. With small-town property prices skyrocketing, buyers may see an opportunity as the price per square foot is less than what homeowners in neighboring Palm Beach and Miami Beach are paying.

The 11,000 square foot home at 3715 South Ocean Boulevard is the most expensive home ever sold in Highland Beach. The house, built of concrete and glass, has seven bedrooms and nine bathrooms, but it’s insane features like lava walls and floors that probably helped him raise $ 30.25 million.

One of the house’s two spiral staircases, built of polished concrete, leads to the second-level houses 17 feet above sea level.

Daniel Petroni

“This home is an oceanfront fortress designed to withstand super storms,” said real estate agent Douglas Elliman Senada Adzem.

The residence spans 120 feet of oceanfront and is located approximately 50 miles north of Miami and 21 miles south of Palm Beach.

The home sold for the first time in March for a record $ 21.57 million, according to the Multiple Listing Service. Adzem represented the buyers in this deal, a couple who decided to sell the house shortly after they bought it.

“The family wanted to exchange and find a much larger house that would meet their needs,” Adzem said.

The third floor of the residence houses a console home office overlooking the infinity pool and ocean.

Daniel Petroni

The couple brought the home back to the market in July, this time with Adzem as listing agent and an asking price of $ 30 million. The new price tag was about 33% higher than the couple paid for it four months ago. And just weeks after the home was listed for sale, the home’s asking price was increased to $ 32 million, $ 10 million more than its previous sale price.

“In the typical real estate market, raising the listing price is not a good strategy,” Adzem said, adding that there is nothing typical in the South Florida real estate market this year.

Just three weeks after the $ 2 million price hike, the fully furnished home sold for $ 30.25 million, breaking a mansion record set a few months earlier. After the sale, the home’s value soared more than 40%, bringing buyers-turned-sellers a premium of nearly $ 8.7 million for the seven-month coup.

“We were dealing with an unmotivated salesperson and a lot of interested potential customers, which led to a premium,” explained Adzem.

And while the mansion was breaking records, the whole city was there. The median sale price of a single-family home in Highland Beach was $ 9.8 million in the third quarter, up 178.4% from last year. Elliman’s report.

The gain has surpassed Palm Beach, where growth was 111.4%. growth and nearby Boca Raton, where the average single-family home sales price rose 38.5% over the same period.

In fact, the average selling price in Highland Beach soared higher than any other market tracked in Elliman’s report, surpassing not only all of South Florida, but also New York and Los Angeles.

Private path to the beach.

Daniel Petroni

Jonathan Miller, President Miller Samuel Appraisers and Real Estate Consultantsexplain the sharp jump in sales prices, in part, by the constant drop in inventories. Highland Beach has seen a 10 consecutive quarter cut in inventories, he said. Only eight homes were listed for sale in the third quarter. For context, there were 4,165 housing units in the city in 2009, according to the Palm Beach County Real Estate Appraiser.

“This is a niche market that is highly dependent on the quality of the individual listings that go into the market,” Miller said.

And while in a smaller market, average selling price data can be more easily skewed by one or two large (or small) sales, both the average selling price and the average price per square foot in Highland Beach have climbed to new records in each of the last three. blocks in 2021, according to Miller.

“The higher quality of stocks creates an environment of volatility and leads to new levels of extreme prices,” he said.

Although prices are higher than ever, Adzem insists that Highland Beach is still “a relatively good deal.”

“We have listed this Highland Beach property for under $ 3,000 per square foot … Oceanfront Trophy Homes in Palm Beach are traded north of $ 5,000. [per square foot] and newer Miami Beach Bay Homes are traded north of $ 3,500 [per square foot]… “

We invite you to take a closer look at the most expensive real estate ever sold in this record-breaking city.

A massive spiral staircase rises to the second level of the house, where vertical blinds cover the façade.

Daniel Petroni

Part of the facade of the house is covered with vertical blinds designed to reduce the amount of direct sunlight entering the windows of the house and to keep the inside of the house cool. This is an architectural feature known as brise soleil. Translated from English, this term means “sunscreen”.

Living room

Daniel Petroni

The second floor of the mega home is 17 feet above sea level, which makes the view from the living room even more impressive.

The upper part of the fireplace in the living room seems to be hovering over the fire.

Daniel Petroni

The central element of the room is a massive fireplace faced with marble of equal size. Part of it seems to be floating above the fire.

Adzem said many surfaces throughout the house, including the residential area, are lined with imported lava. The floors are polished lava from Mount Etna in Italy, and some walls are covered with porous unpolished lava from Mongolia.

The bar is also covered in Italian lava. It offers great ocean views and steel bar stools upholstered in cowhide.

The Green Wall is made up of 1,800 individual plants arranged to create waves of green.

Daniel Petroni

The entire wall in the living room is covered with lush green vegetation. The deciduous mosaic consists of 1,800 individual plant species arranged to create waves of green in various shades.

The vegetation thrives under special botanical lights, and the automatic irrigation system is hidden behind the leaves.

Ocean views from the elevated L-shaped infinity pool on the second level of the home.

Daniel Petroni

Also on the upper second level is an L-shaped infinity pool, hot tub and outdoor dining area.

Kitchen and family room.

Daniel Petroni

The home’s main kitchen opens onto the family room and is fitted with stainless steel cabinets and polished black granite countertops from India. The house also has a second chef’s kitchen.

Canteen

Daniel Petroni

According to Adzema, the dining room seats 12 and includes a wine display cabinet that can hold over 1,200 bottles.

The floor-to-ceiling wine storage in the dining area can hold 1,200 bottles.

Daniel Petroni

The wine balances on wooden shelves attached to a massive lava stone wall. It can be accessed through floor-to-ceiling glass doors.

The sleeping quarters are the owners’ suite.

Daniel Petroni

The owner’s apartment is on the third level of the house. Adzem said it spans over 3,000 square feet, including the owner’s bedroom nestled over palm tops overlooking the ocean.

Living room in owner suite and midnight bar.

Daniel Petroni

The spacious bedrooms have a seating area, fireplace and midnight bar.

Master bathroom.

Daniel Petroni

There is also a milky white marble bath in the master suite.

An outdoor hot tub next to the master bath.

Daniel Petroni

The suite’s bath opens onto an outdoor area with a hot tub, faux green wall and shower.

Floor-to-ceiling windows overlook the owner’s suite home office.

Daniel Petroni

The suite also features a cantilever home office with three floor-to-ceiling glass walls,

Plus there is a gym in the owner suite.

Master’s wardrobe.

Daniel Petroni

This suite requires fingerprint access to enter the dressing room.


Source link

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button