SOUTH FLORIDA NEWS - Larry Mastropieri

A Fire, Six Historic Homes, and a Bigger Question for WPB

While luxury towers rise downtown, the CRA is trying to save century-old shotgun homes a few blocks west. Here is what the project reveals about the city's two very different housing realities.

• A February 2026 fire destroyed three of six 1924 shotgun homes on Douglass Avenue and damaged a fourth.
• The CRA is asking the Historic Preservation Board to approve rebuilding four structures in the same architectural style.
• All six homes would be sold as affordable housing for residents earning up to 80% of area median income.

Shotgun homes are not only picturesque but historically significant. More common in some parts of the South than others, West Palm Beach's Northwest Historic District still has a handful built in 1924. So when a fire on…

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Related Ross Adds a 25-Story Tower to Its West Palm Empire

The firm filed plans for a 194-unit condo tower at 464 Fern Street, on a downtown block it bought for $55 million in May. It is designed for fewer, larger, higher-end homes than the rental projects that stalled on the site before.

Key Takeaways

• Related Ross filed plans for a 25-story, 194-residence tower at 464 Fern Street in downtown West Palm Beach, on a site it bought for $55 million back in May.
• The plan skews larger and pricier per unit, with two- to four-bedroom layouts, a bet on fewer, more upscale residences.
• The same lot stalled under prior developers for years, and the project is still under municipal review and not yet approved.

Related Ross keeps stacking up downtown West Palm Beach, and it just added another tower to the…

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Affiliated Wants an $8.8M Tax Break to Build The Cypress

The 340-unit Fort Lauderdale apartment project is the developer's third Broward build in a row, each funded by a different public incentive. This time the tool is a county property-tax rebate, in exchange for 136 workforce units in Ft. Lauderdale.

Key Takeaways

• Affiliated Development is seeking an $8.83 million Broward County property-tax reimbursement to help build The Cypress, an eight-story, 340-unit apartment tower in Fort Lauderdale.
• Of the 340 units, 136 would be workforce housing for households earning 100% to 120% of the area median income, which is around $89,000 in Broward.
• It is the developer's third Broward project, funded by a third, different public incentive, and the request has been filed but is not yet approved.

You…

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The Two Towns Leading PBC's Property Value Surge

Boca Raton and Palm Beach get all the attention. But the biggest property value jumps came from two towns you might not expect. Here is what is driving the surge.

• Lake Park's taxable value jumped 38.7% year-over-year, driven largely by Nautilus 220.
• Westlake grew 23.7%, fueled by Minto's master-planned community and a population that has grown tenfold since 2020.
• Boca Raton remains the most valuable city at $42.7 billion, but smaller towns are posting the biggest percentage gains.

Two of Palm Beach County's smallest towns just posted the biggest property value gains. Lake Park (population around 9,000, near North Palm Beach) saw its taxable value jump 38.7% year-over-year, bringing cumulative value to nearly $1.8 billion. Westlake (26…

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Deerfield Beach City Center: 3 Mixed-Use Towers Planned

While other projects face opposition from residents, this City Center plan may see the light at the end of the tunnel. Here is everything you need to know about the three towers coming to this South Florida pocket.

• Deerfield Beach City Center proposes three 14-story towers with 150 units, a 120-room hotel, and 132,500 SF of office.
• Voters approved the $6.5 million city land sale by referendum in 2023.
• The Planning and Zoning Board votes on rezoning and unit allocation on September 3, 2026.

Deerfield Beach voters already said yes to this one. In 2023, residents approved the $6.5 million sale of a city-owned parcel by referendum. Now the developer has filed plans for what goes on it: three 14-story buildings connected by a parking podium,…

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$1.28B Office Foreclosure Shows South Florida Isn't All Booming

Wells Fargo is moving to foreclose on eight aging office buildings in Boca Raton, Sunrise, and Miramar. As developers sell off shiny new trophy towers downtown, commodity suburban offices are being handed back to lenders.

Key Takeaways

• Wells Fargo, acting for bondholders, filed a $1.28 billion foreclosure lawsuit tied to Boca Raton-based Workspace Property Trust, targeting eight South Florida office buildings.
• The buildings in Boca Raton, Sunrise, and Miramar are aging suburban offices that were hit hard by the post-2020 shift to remote work.
• It is a filed lawsuit, not a completed foreclosure, and tenants keep operating normally, but it shows the office market has split into two tiers.

South Florida real estate can feel unstoppable,…

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Playboy Mansion Owner Sells His Oceanfront Home for $22M

The North Beach estate sold for $3 million below its asking price, but the more interesting story is what the deal says about the market. Miami's ultra-luxury tier keeps moving for cash even as the everyday market cools.

Key Takeaways

• Daren Metropoulos, owner of Los Angeles' Playboy Mansion, sold his oceanfront Miami Beach home at 7815 Atlantic Way for $22 million, below the $25 million ask.
• He paid $18 million for the home in 2021, so the roughly $4 million gross gain is likely close to a wash after transaction and carrying costs.
• The sale reflects a split market: Miami's ultra-luxury tier keeps moving for cash while the broader market cools.

It turns out even Playboy Mansion owners flip houses, and this one just cashed out of Miami…

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EffectiveAgents Named Larry Mastropieri Top Commercial and Residential Real Estate Expert in South Florida

The vast majority of licensed Realtors® pick one real estate category and stay in it for their entire career. Residential agents rarely touch commercial deals, and commercial brokers rarely handle residential listings. Larry Mastropieri sits in the small overlap that does both categories well across South Florida. As a result, EffectiveAgents just recognized his dual-track career at The Mastropieri Group with the Commercial and Residential Expert badge.

Buyers and sellers evaluating a Realtor® in Boca Raton or the broader South Florida market get a hard-to-fake signal whenever this badge appears on an agent profile. Since it requires verified deal history across both categories, the recognition is a real filter when hiring. This article covers what the…

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EffectiveAgents Recognized Larry Mastropieri as Highly Rated and Preferred Agent in South Florida

As Warren Buffett has said, it takes 20 years to build a reputation and five minutes to ruin it. That long-view discipline shows up in how Larry Mastropieri has built The Mastropieri Group across South Florida over two decades. As a result, EffectiveAgents just recognized the work with two of the platform's most respected distinctions, the Preferred Agent and Highly Rated agent badges.

Buyers and sellers in Boca Raton treat these two badges as clear trust signals when evaluating any Realtor®. Since both awards come from verified data, neither can be bought or self-nominated on the platform. This article breaks down what each recognition means, how Larry earned both, and why the combination matters when hiring a real estate agent.

Key Takeaways from…

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Inside the $63M Bet to Modernize The Club at Ibis

One of West Palm Beach's largest private communities is making its move to stay competitive. Here is what is coming and what buyers should know about country club living.

• The Club at Ibis broke ground on a $63 million campus transformation on August 4, 2026.
• Improvements include a new spa building, an expanded fitness center, a casual restaurant, and pickleball and padel courts.
• Hedrick Brothers Construction is managing the multi-year, phased project to maintain club operations throughout the project.

The Club at Ibis is one of the more popular private communities in West Palm Beach. But in a market this competitive, you either evolve or disappear. That explains the $63 million campus overhaul. According to Florida YIMBY, Hedrick…

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