Boca Raton's most expensive waterfront property sold for $40M

Release time：2024-05-07 12:27:05 Source：Global Glossary news portal

A waterfront mansion in Boca Raton in Florida has sold for a record $40 million. 

But - despite only being built in the 1990s - the buyer plans to tear it down and build a new home in its place. 

It has two outdoor swimming pools and sits on 400 feet of water frontage on the Intracoastal Waterway and a canal.

The property is set over 1.7 acres in the fancy Royal Palm Yacht & Country Club.

It was first listed by agents Jill Hertzberg and Jon Mann of the Jills Zeder Group at Coldwell Banker Realty in April 2023 for $52 million. 

The waterfront mansion is located in the prestigious Royal Palm Yacht & Country Club in Boca Raton in Florida

It sits on 400 feet of water on the Intracoastal Waterway and a canal

It has two swimming pools, including one infinity pool

Hertzberg and Mann told The Wall Street Journal this week that it has sold for $40 million - a record for the area. 

The home was built over several years by the late financial-publishing entrepreneur Glen K. Parker and his accountant wife Sandy. 

Parker died in 2022 and the sale was handled by a family trust, according to his son from a previous relationship, Randy, who spoke to the WSJ.

It is not known what the land cost originally.

There is a primary three-bedroom main home with a curved front that tracks the edge of the water it looks over, plus a guesthouse. 

Inside the main house, across 10,000 square feet, the main bedroom offers water views, double bathrooms, a workout area, and a rooftop patio.

Tall arched windows and circular staircases are among unique architectural elements of the main home. 

'My dad loved a circular staircase,' Randy Parker told the WSJ back in 2023 when it was first listed.

At the time it was completed in the 1990s, it had a cutting-edge smart home system - but it is 'probably dumber than the worst cellphone,' he added.

'I remember you would press a button and it would dim this and open that,' he said. 'Once, my 2-year-old son found the off switch for the entire system and the entire place crashed.' 

There is a main three-bedroom main home with a curved front that tracks the edge of the water it looks over

The infinity pool in the Boca Raton waterfront mansion is seen at night

The property is set over 1.7 acres in the fancy Royal Palm Yacht & Country Club

Boca Raton in Florida is a property hotspot

The front of the home, which was built over several years by the late financial-publishing entrepreneur Glen K. Parker and his accountant wife Sandy

The garden is landscaped but this may also be destroyed when the mansion is demolished

Inside the main house, across 10,000 square feet, the main bedroom offers water views, double bathrooms, a workout area, and a rooftop patio

The garden features trees and plants from around the world. It is not clear if these will be lost. 

Even when it was listed last year, the agents said they expected the home to be torn down and replaced with a resort-style property. 

Luxury home builder Steven Dingle is the recorded buyer. The agents said he intends to demolish the 1990s home and guesthouse and put in a resort-style property instead.

He and his brother, Scott Dingle, are founders of SRD Building, a construction firm in Boca Raton known for top-end mansions. 

They were behind the sale of a $28 million property in the same Royal Palm community - which was the previous record holder for the area.  

The Royal Palm Yacht & Country Club's real estate market is hot at the moment. The median sale price of homes hit $7.5 million in March. 

That is up 37.5 per cent from the previous year, according to data from Redfin.

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