SOUTH FLORIDA NEWS - October, 2024

Luxurious Boca Raton Waterfront Estate Sells for $9M

In an exceptional transaction, Larry Mastropieri of The Mastropieri Group LLC sold a client an astonishing waterfront property at 510 Kay Terrace, Boca Raton, FL, closing on October 15, 2024, at $9,225,000. Located in the charming neighborhood of Golden Harbour, this property embodies that of luxury and sophistication, making it one of the most desirable luxury homes recently sold in the Boca Raton real estate market.

Intracoastal Waterway: A Boca Raton Waterfront Home

Developed by Alpha Premium Development, this stunning 5,699-square-foot estate sits on a 9,562-square-foot lot along a deepwater canal, providing direct access to the Intracoastal Waterway. With a private dock and a seawall, this property is a dream come true for boating…

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Stunning Boca Raton Waterfront Home Sold for $937K

Larry Mastropieri and Joy Mastropieri of The Mastropieri Group successfully sold a spectacular waterfront property located at 497 NW 14th Street, Boca Raton, FL 33432, closing the deal at $937,000 on October 24, 2024. This impressive two-story home boasts luxury, space, and unmatched access to the water—making it a sought-after gem in Boca Raton's real estate market.

A Glimpse Into the Boca Raton Home: Luxury and Comfort Entwined

Situated in the prestigious Boca Raton Hills neighborhood, this four-bedroom, three-bathroom home offers an ideal blend of style, function, and convenience. The property sits on an expansive 8,100-square-foot lot with direct canal access, making it a rare find in the heart of East Boca Raton. With a private dock,…

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Inside the $88M Palm Beach Billionaires’ Row Mansion Now on the Market

A Palm Beach mansion, that can only be described as a pinnacle model of luxury real estate in South Florida, has just entered the market with an asking price of $88 million. Situated at 1540 South Ocean Boulevard, this estate epitomizes opulence with every detail designed for luxury, privacy, and entertainment. As an impressive member of Billionaires' Row in Palm Beach, this property offers quite the unique features: a private tunnel to the beach, expansive outdoor areas, and an architecture and design pedigree that places it among the most prestigious homes on the market.

Prime Location on South Ocean Boulevard

The estate's location at 1540 South Ocean Boulevard in Palm Beach is a notable address on Billionaires’ Row, known for its exclusive…

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Major Updates to University Village Mixed-Use Development in Boca Raton

The University Village mixed-use development in Boca Raton is back in the spotlight, as developers recently revealed revised plans for this large-scale project. Originally approved in 2015, the 77-acre site at 555 N.W. Spanish River Blvd. had remained dormant, but new developments indicate a renewed push to make this ambitious project a reality. The updated vision for University Village includes residential units, retail spaces, office facilities, and community-focused amenities, making it a significant addition to the Boca Raton real estate market.

What’s New in the Plan?

The new plan for University Village is a departure from the original concept, presenting a more comprehensive approach to mixed-use development. Key elements of the revised…

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Monaco Isles Apartments in West Palm Beach Acquired for $55.46 Million

Monaco Isles Apartments in West Palm Beach Acquired for $55.46 Million

The Monaco Isles apartment complex, a sought-after residential community in West Palm Beach, was recently acquired in a landmark $55.46 million transaction. The purchase underscores the continued growth of the West Palm Beach real estate market and the region’s appeal as an attractive hub for residential investments. With upscale amenities and a competitive location, Monaco Isles is set to enhance the area’s residential offerings, catering to the increasing demand for luxury living options in the area

Monaco Isles: A Unique Asset in West Palm Beach

Monaco Isles, located at 800 The Pointe Drive, consists of 317 apartment units, with the recent sale averaging $174,952 per…

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West Palm Beach’s Residential Development Pipeline: Transforming the Skyline and Real Estate Market

West Palm Beach is entering a period of rapid transformation, with nearly two dozen residential projects either in the planning stages or under construction. These developments will add close to 6,600 new units to the city’s housing stock, reshaping the skyline and providing a range of housing options, from luxury condominiums to workforce-priced rentals. The residential development boom reflects the ongoing demand for housing in the area, driven by an influx of new residents and a growing economy. For those involved in the Boca Raton real estate market and the broader South Florida region, this surge in development represents significant opportunities and potential impacts.

The Boom in Residential Development: West Palm Beach’s Response to Demand

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Palm Beach County Condo Market Sees Mixed Trends in October 2024

The Palm Beach County condo market experienced notable fluctuations during the week of October 13th to October 20th, 2024, with increased sales activity but a slight dip in dollar volume. As more properties exchanged hands, Boca Raton Realtors and those working in Palm Beach County noticed varied pricing trends, demonstrating the dynamic nature of the area’s real estate landscape. This week, 78 condo sales closed, totaling $43.1 million, compared to the previous week’s 57 sales at $45.9 million.

Recent Miami-Dade Condo Sales

Real Estate Agents in Boca Raton See Increased Sales Volume

For real estate agents in Boca Raton, FL, the rise in the number of units sold, despite the lower overall dollar volume, highlights increased buyer activity at…

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Plans Proposed For Second Residential Tower in West Palm Beach

A company has introduced plans for a second residential tower at 1830 North Dixie Highway in West Palm Beach. This new project signifies "phase two" of the developer’s broader ambitions in the South Florida real estate market. Realtors Boca Raton are keenly following this development, as it could influence the housing market dynamics across the region, including Boca Raton real estate.

Real Estate Agents in Boca Raton, FL Look to New Developments for Market Insight

The proposed residential tower will feature 369 apartment units and 7,600 square feet of retail space, adding a much-needed mix of housing and amenities to the growing West Palm Beach market. According to Savanna's co-chief investment officer, Andrew Kurd, the project will include a…

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Palm Beach County Condo Market: Analyzing Real Estate Trends

The Palm Beach County real estate market, particularly the condominium sector, experienced a mixed performance from September 15th to September 22nd. While the total number of condo sales and dollar volume declined compared to the previous week, the average sale price and price per square foot rose. This trend signals a shift in the market, with buyers focusing on premium properties, a critical element of real estate investing in the region.

Decline in Sales and Dollar Volume in Boca Raton Real Estate

From September 15th to September 22nd, brokers closed 67 condo sales across Palm Beach County, totaling $39.7 million. This is a significant drop from the previous week, when 91 condos sold for a combined total of $45.9 million. The nearly $6.2…

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Condo Sales Drop in Q3 2024: Insights from Boca Raton Realtors and Beyond

The South Florida real estate market saw a significant decline in condo sales during the third quarter of 2024, according to reports from real estate agents in Boca Raton, FL and across the region. While the number of transactions fell, median prices for these properties continued to rise. High mortgage rates and limited inventory are contributing to this shift, affecting both buyers and sellers.

Boca Raton Real Estate: Condo Sales Tumble but Prices Keep Rising

The Q3 2024 data showed that condo sales dropped sharply across much of South Florida, a trend mirrored in the Boca Raton real estate market. According to Jonathan Miller of Miller Samuel, high mortgage rates and inventory constraints are key factors driving the decline. However, despite…

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