The $28.5 million mansion that recently hit the market in Boca Raton, FL situated at 2633 Spanish River Rd.
Ultra-high-end real estate in Boca Raton, Florida, is on a stratospheric rise, breaking record sale prices every yr for five consecutive years. And the worth per square foot of the town’s top-end homes is now on par with Miami Beach pricing.
“People tend to consider Miami when the topic turns to high-end South Florida real estate,” said Douglas Elliman real estate agent Senada Adzem, “But Boca Raton is, without query, one in all the region’s premier luxury residential markets.”
The all-time top sale within the town, situated about 45 miles north of Miami and 28 miles south of Palm Beach, traded last yr for $24.5 million, delivering a price per square foot of greater than $2,800, based on public records. That is greater than 4 times the typical $670 price per square foot for a luxury home, representing the highest 10% of sales, in Boca.
The record sale also tops the typical price per square foot achieved in Miami Beach, at $2,766, based on essentially the most recent Elliman Report for Q1.
“Trophy properties have gained momentum within the South Florida market over the past three years — for tax advantages, for safety reasons, and due to the pandemic,” Adzem told CNBC.
The good room at 2633 Spanish River Rd in Boca Raton, FL.
This yr’s already seen three more mega-homes hit the Boca market, each priced to interrupt last yr’s record and push the town’s high-end even higher.
Here’s a better take a look at the three highest-priced homes on the market in Boca Raton:
The twilight view of 169 W Key Palm from the waterway.
The waterfront home at 169 West Key Palm Road was listed this week for $26.9 million. It’s situated behind the private gates of Boca’s swanky Royal Palm Yacht & Country Club community, and the asking price is just shy of $3,000 a square foot.
Lounge with marina views.
The just about-9,000-square-foot residence is being sold fully furnished. Dustin Nero at Douglas Elliman, who co-lists the house with Adzem, says high-end buyers moving from places like California and Latest York are wiling to pay a premium for a turnkey mansion.
Sunset view from infinity pool and dock.
“It overlooks the Royal Palm marina. You do not take a look at a house — it’s a really premium view,” said Nero, who believes the house’s unique view will help it break the town’s sale price record.
Owner’s suite overlooking waterway and marina.
The six-bedroom home sits on 104 feet of waterfront with deep water dockage on the Fishtail Palm Waterway and includes five full baths and two half-baths.
Certainly one of two walk-in closets in the house’s primary suite.
Nero, who represents clients in each Miami and Boca, believes a trophy home in Boca continues to be a relative bargain in comparison with the very top-end in Miami.
“This home in Miami would list at $4,000 or $4,500 a square foot,” he said.
The pool and hot tub situated above the house’s dock and overlook the community’s marina.
One other selling point for Boca: Buyers can land their private jets here. The private airport in Boca recently added its own customs office, Nero said, the final word convenience for local residents traveling internationally by private jet.
The view of 2633 Spanish River from over the Intracoastal Waterway.
This almost-10,000-square-foot home situated on the Intracoastal Waterway within the Estate Section of Boca was listed this month for $28.5 million. That puts the worth per square foot just below $2,900.
The house’s entryway is flanked by a water feature that spans the whole walkway on one side and plush vegetation on the opposite.
“It’s like a piece of residential art that manages to walk the road between artful splendor and resort-style comfort,” said Adzem, who’s a co-listing agent on the property with Nero.
The view from the cantilevered primary suite.
The contemporary home, which can be being sold fully furnished, unfolds over two floors with six bedrooms, eight baths and one half-bath. The owner’s bedroom is cantilevered over the deck, so whenever you’re laying in bed the room appears to drift over the water.
Owner’s suite terrace overlooking pool and waterway.
The house’s great room has a double-height wall-of-windows that deliver panoramic views and drench the room in sunlight.
The bottom-level glass panels slide away blurring the lines between indoor and outdoor space.
The room also features a 12-foot double-sided fireplace clad in grey and black porcelain.
A retractable glass wall opens the nice room to the outdoor lounge and pool.
Adzem told CNBC the house also includes an ultra-high-end, hospital-grade air filtration system that is tied into the central air system.
“It’s designed specifically for a Covid-free home environment, with separate zones of HVAC for each room,” she said.
The night view of 298 W Key Palm from the pool area.
The very best priced home on the market on the town is a $35 million mansion spanning almost 11,500 square feet, built by developer SRD Constructing Corp.
“We have been setting recent highs consistently,” said SRD’s president, Scott Dingle.
The newly constructed modern residence, also situated on West Key Palm Road on the Royal Palm Yacht & Country Club community, is situated on the Butterfly Palm Waterway. It includes a personal dock and greater than 166 feet of waterfront.
The waterfront home’s private dock.
The view into the garage from the house office.
The house’s five-car garage doubles as a supercar showcase that is visible through a floor-to-ceiling glass wall from a desk in the house office.
Roberts, who sold $545 million price of homes in the neighborhood just last yr, said the spec builder’s record-breaking strategy is straightforward.
“They buy premium [lots], and so they put premium on it,” he said.
The pool deck and lanai areas.
The house’s $3,050-per-square-foot asking price is a high bar for Boca Raton, which has yet to see a sale breach $3,000 a square foot. But Dingle, who said he’s built 160 homes in the neighborhood over the past 28 years, is confident it could occur.
The spec builder told CNBC he has one other home in the neighborhood under contract for $26.5 million, scheduled to shut later this yr at a record-breaking $3,200 per square foot.
“This yr you’ll see some recent records set,” he said.
The fashionable interiors at 298 W Key Palm include a combination of stone & wood finishes with a dramatic floating staircase.
Dingle says 95% of the homes he’s built are on this one community and, after almost three many years, he continues to bet on Boca breaking records.
“With a rustic club, marina, championship golf course, direct access to the beach, it is a special spot,” Roberts said. “We’ve all our cards and chips in.”