SOUTH FLORIDA NEWS - Larry Mastropieri

Palm Beach Oceanfront Mansion Sells for $73 Million in Off-Market Deal

A Palm Beach oceanfront estate near Mar-a-Lago has changed hands in a private sale for $73 million—nearly doubling its 2020 purchase price.

High-Profile Sellers and a Lucrative Return

Brenda and Ric Elias, who bought the property five years ago for $37.25 million, were on the selling side of the transaction. Ric Elias, a billionaire entrepreneur, is the co-founder and CEO of Red Ventures, a digital media powerhouse based near Charlotte, North Carolina.

While the original sale wasn’t recorded with a deed at the Palm Beach County Courthouse due to its structuring, property records confirm the Eliases' acquisition.

Inside the Estate: Luxury and Architectural Excellence

The 14,908-square-foot estate, completed in 2018, features eight…

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South Florida Faces Severe Drought: What You Need to Know

South Florida is experiencing a severe drought, and experts predict the dry conditions will continue for at least the next month. The U.S. Drought Monitor has reported that the region is in “severe drought conditions,” with the National Oceanic and Atmospheric Administration (NOAA) forecasting below-average rainfall through April.

Rainfall Deficits in South Florida

So far, the rainfall totals for 2025 have been significantly lower than usual. Broward County has seen only 0.3 inches of rain this month, about 18% of the usual amount. Coastal areas of Palm Beach County have fared slightly better with 1.39 inches, but that's still just 27% of what’s typically expected. These shortages are already taking a toll on local water resources, and with…

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How Florida’s HB 913 Could Affect Condo Owners and Developers

Florida lawmakers are looking at a new bill, House Bill 913 (HB 913), which could impact condo associations, insurance, and property development across the state including South Florida. The bill, introduced by Rep. Vicki Lopez, aims to improve safety rules, give condo boards more financial power, and increase transparency in condo-hotels.

Tougher Safety Rules for Condo Associations

One big part of HB 913 is restricting access to Citizens Property Insurance, Florida's state-backed insurer, for condo associations that don’t follow updated safety rules. These rules, set after the 2021 Surfside condo collapse, require condo buildings to undergo structural integrity studies and inspections. If a condo association hasn’t completed these inspections, it…

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CityPlace West Palm Beach Expansion: What’s New in 2025 and Beyond

Big things are happening at CityPlace in downtown West Palm Beach. Stephen Ross, chairman of Related Ross, is focused on transforming the city into a leading destination, with CityPlace playing a major role in that vision. The massive mixed-use development, which first opened in October 1999, is set for a major overhaul. After breaking ground on March 12 for two new office towers—10 and 15 CityPlace—officials shared new details about what’s next for the area.

What’s in Store for CityPlace?

Ross, who also owns the Miami Dolphins, says he wants to bring in everything needed to support the city's rapid growth. Here’s what’s in the works:

• A new, much larger Publix could replace the existing grocery store at CityPlace—if Related Ross can…

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Larry Mastropieri Named One of Florida's Top Real Estate Professionals for 2025

The Mastropieri Group is pleased to report that its Owner and Broker, Larry Mastropieri, was ranked among "Florida's Top Real Estate Professionals 2025" by Statista in a widely anticipated release published in Newsweek. This achievement places Larry in the elite group of professionals in the state, having excelled in Palm Beach County's high-profile real estate market.

Why Larry Mastropieri is a Top-Ranked Palm Beach County Realtor in 2025

The award is based on a critical analysis of Florida real estate agents from Multiple Listing Service (MLS) data. Statista, one of the leading market analytics companies, ranked the agents on four performance factors from 2021 to 2024:

• Revenue (30%): Total revenue of residential sales

• Sales…

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Big Changes in South Florida’s Housing Market—Are You Ready?

If you're feeling frustrated by the high home prices and fierce competition, you're not alone. For years now, buyers have been bidding against each other, having very few choices, and at terribly high prices. Sellers, on the other hand, are wondering whether they missed the peak of the market. On the brighter side, the change in the South Florida housing market may finally kick things back in your favor.

More Homes, More Opportunities for Buyers

For years, it probably felt impossible to find the right home without overpaying. Now, things are changing. The number of available homes in both Broward and Palm Beach counties has jumped significantly from January 2024 to January 2025:

• Broward County: Single-family home listings rose 36% (from…

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Is One Italian Festival a Year Not Enough? Wellington Has You Covered.

If you've ever felt like waiting a whole year for an Italian festival in Palm Beach County is just too long, you're not alone. Sure, the Feast of Little Italy in Jupiter is a staple every November, but what about the rest of the year? The craving for authentic Italian food, live music, and cultural celebrations doesn’t just disappear.

Good news, Wellington is stepping up. This March, you won’t have to wait until fall to indulge in all things Italian. The first-ever Galbani Festa Italiana of Wellington is happening March 29-30 at the Wellington Amphitheater, bringing you a full weekend of Italian flavors, music, and tradition.

What to Expect

If you've ever left an Italian festival thinking, I wish I could eat like this all the time, you're in…

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Palm Beach County Proposes $12 Million for Affordable Housing Projects

Palm Beach County is considering a significant investment in affordable housing by allocating $12.1 million to support three key developments. These projects aim to create 145 affordable apartments to assist low-income residents, veterans, and workforce housing needs. The proposals will go before the County Commission today, March 11 as part of the county’s workforce housing initiative, which provides essential funding to make affordable housing viable.

Affordable Housing Projects in Palm Beach County

One North Lake: $4.65 Million Investment

The largest portion of the proposed funding, $4.65 million, would go to One North Lake LLC through a 40-year loan at 1% interest via the county’s Housing Initiative Program. The project, a joint venture…

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Government Campus Redevelopment Partnership Moves Forward in Boca Raton

February 11, 2025, City Council, the government of Boca Raton made a historic move towards revamping the city's Government Campus by officially designating Terra & Frisbie Group as the official Government Campus Master Plan partner. This selection is the result of a competitive bidding process that is aggressive and designed to identify the most capable team to redevelop the campus as a thriving civic and mixed-use destination. Public facilities and services tailored to accommodate the evolving requirements of the community will be incorporated in the redevelopment.

Future Phases in the Redevelopment Process

The joint venture between Boca Raton and Terra & Frisbie Group will proceed under a formal staged sequence:

• Interim Agreement: The…

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Cleveland Clinic Plans New Hospital in West Palm Beach with $500 Million Fundraising Goal

Cleveland Clinic, the global leader in heart care and academic medicine, today announced its intentions to construct a state-of-the-art hospital in West Palm Beach. The initiative, supported by a $500 million fund-raising campaign, is tailored to increase medical care for the people of Palm Beach County.

The announcement was made during the Palm Beach Ball, an annual fund-raising event for the benefit of Cleveland Clinic's growth and medical programming in South Florida. The expansion is a testament to the organization's determination to bring high-quality healthcare to more people across the region.

A Vision for Advanced Medical Care

Cleveland Clinic has been a trusted health care provider in Palm Beach County for decades, and the organization…

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