SOUTH FLORIDA NEWS - Real Estate

Mass General Brigham Expands to Palm Beach as $79M Manalapan Estate Hits the Market

Mass General Brigham, the renowned teaching hospital system for Harvard Medical School, is expanding its presence into Palm Beach County with plans to establish medical offices at the Legacy Place shopping center in Palm Beach Gardens. This project marks another major addition to the influx of out-of-state medical providers that have been drawn to the area since the pandemic, aiming to meet the growing healthcare needs of South Florida’s rapidly expanding population.

The move by Mass General Brigham focuses on oncology services and is a significant step for Palm Beach County. The healthcare giant has sought a presence in the region for nearly two decades and finally found the right partner to bring its patient care and research expertise…

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Sea-to-Lake Estate in Manalapan Hits Market at $85M—More Than Double Its 2020 Sale Price

The barrier island community of Manalapan, once considered a quieter neighbor to Palm Beach, is making waves in the luxury real estate market. The latest property to catch attention is a stunning ocean-to-lake estate at 640 S. Ocean Blvd., which has just hit the market for an eye-popping $85 million—a price that includes furnishings. This listing marks one of the highest-priced residential properties ever listed for sale in Manalapan.

What’s even more striking is that the property, completed in 2019, was sold just four years ago in 2020 for $36.05 million, meaning its price has more than doubled in value. The $85 million price tag is reflective of the dramatic rise in real estate values in Manalapan, particularly during the pandemic, when many…

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West Palm Beach’s Historic District Faces New Wave of Waterfront Development

The historic Northwood Harbor district in West Palm Beach, a community over a century old, is experiencing a surge in waterfront development, sparking both excitement and concern. Once overlooked, this neighborhood along North Flagler Drive has caught the attention of developers eager to capitalize on the growing demand for luxury living, especially following the pandemic’s shift in buyer preferences.

The Rise of New Developments

Within the past year, numerous high-rise luxury condominium proposals have emerged for an eight-block stretch adjacent to Northwood Harbor. Construction has already begun on the 22-story Alba Palm Beach condominium, and adjacent plots are now being eyed for further development.

Alba Reserve, a new luxury project…

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South Florida Condo Financing: Expert Insights with Larry Mastropieri and Emmanuel St. Germain

In the dynamic world of South Florida real estate, understanding the intricacies of condo financing is key to successful transactions. To shed light on this topic, Larry Mastropieri, a seasoned real estate broker and owner of the Mastropieri Group, recently sat down with Emmanuel St. Germain, CEO and loan originator at Choice Mortgage Group. Their comprehensive conversation offers invaluable insights into the nuances of condo financing in this region.

The discussion began with Larry introducing Emmanuel, acknowledging his expertise in closing condo-related financing deals. Emmanuel immediately emphasized the critical nature of understanding condo financing, especially given the prevalence of condominiums in the South Florida market.

A significant point…

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Unveiling the Impact: Larry Mastropieri Sheds Light on Fannie Mae's Controversial Condo Blacklist

In an enlightening interview, Larry Mastropieri, a prominent real estate broker and the face behind DiscoverSouthFlorida.com & The Mastropieri Group, delves into a developing story that's sending ripples through the U.S. real estate sector: Fannie Mae's controversial "Condo on Available Projects in Phases Report," widely known as the condo blacklist. Initially uncovered by The O.C. Register in April 2023, this list categorizes certain condominium buildings as ineligible for financing based on Fannie Mae's stringent guidelines.

The blacklist, comprising over 2,300 properties with a striking 34% located in Florida, signifies a notable expansion from its earlier count of 1,700, as reported by the South Florida Sun Sentinel. Mastropieri elucidates the…

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Tommy Hilfiger Reduces Price on Palm Beach Lakefront Property to $35.9 Million

Fashion designer Tommy Hilfiger, alongside his wife Dee Ocleppo Hilfiger, also a fashion designer, have relisted one of their two Palm Beach houses, this time at a more tempting price of $35.9 million. This new listing price is a notable $2 million reduction from its previous asking price last season.

The lakefront property, located at 313 Dunbar Road, is a stunning example of Mediterranean-style architecture. It initially hit the market in September 2022 with a price tag of $39.7 million. After some time, the price was reduced by $1.8 million, bringing it to $37.9 million before the property took a break from the market in early June.

The Hilfigers purchased this luxurious residence for a recorded $21 million in May 2021 through their ownership…

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Mathews Brewing Company Scratch Kitchen: A New Culinary Destination in Lake Worth Beach

In the world of real estate investment, the phrase "location, location, location" often holds sway. However, the true test of success comes when a new venture thrives in a less-traveled locale, making its expansion a journey akin to starting anew. Such is the story of Mathews Brewing Company Scratch Kitchen, set to make its grand debut at 125 S. Dixie Highway in Lake Worth Beach on January 5, marked by a ceremonial ribbon-cutting event in collaboration with the Lake Worth Beach Community Redevelopment Agency. This follows its initial soft opening on December 8.

The new dining spot, which required ten months of meticulous planning and development, boasts a cozy dining area with a 20-seat capacity. Guests can conveniently place their orders using QR codes at…

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Palm Beach County Launches $3 Million Initiative to Aid First-Time Homebuyers

Palm Beach County is taking a significant step to support aspiring homeowners by allocating approximately $3 million to assist first-time homebuyers. This initiative is a boon for local families looking to navigate the challenging real estate market.

The Palm Beach County Department of Housing and Economic Development is conducting the final orientation meeting for families interested in applying for the program, which offers up to $100,000 in home purchasing assistance. The response has been overwhelming, with about 1,000 local families already expressing interest.

In a county where the average home price hovers around $474,000, the financial challenges for first-time buyers are considerable. Typically, a first-time homebuyer might need to put down about…

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