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Waterfront Boca Raton spec mansion sells for $27M
Royal Palm Yacht & Country Club home spans 9K sf, with six bedrooms, eight bathrooms, 104 ft of waterfront
A waterfront spec mansion in Boca Raton’s Royal Palm Yacht & Country Club sold for $26.5 million.
Records show a trust managed by local attorney Jay Sakalo sold the house at 480 East Alexander Palm Road to another trust managed by Robert G.W. Laute.
David Roberts of Royal Palm Properties, the top agent in The Real Deal’s 2023 Palm Beach County broker ranking, had the listing. Ina Bloom of Compass brought the buyer.
The home was built by spec developers Scott and Steve Dingle of SRD Building, homebuilders who specialize in Royal Palm Yacht & Country Club. They have built some of Boca Raton’s most expensive homes in recent years, with spec projects regularly setting price records.
The selling entity bought the 0.4-acre waterfront property for $7.8 million in 2022, records show. The Dingles demolished the previous house and completed the 8,900-square-foot, six-bedroom, seven-bathroom mansion earlier this year, according to records and the listing. It also has a pool, a dock, two half-bathrooms, a four-car-plus golf cart garage, and 104 feet of waterfront, the listing shows. It sold fully furnished.
Roberts listed it for $29 million in January, according to Redfin. In February, software CEO Oleg Movchan sold his waterfront Boca Raton estate for $29 million, marking a price record for the city. It topped last year’s $28 million record sale, which was a Royal Palm Yacht & Country Club estate built by the Dingles.
Royal Palm Yacht & Country Club is a favorite gated community among Boca Raton’s luxury buyers. Last month, convenience store mogul Robert Sheetz sold a waterfront spec mansion for $25.9 million. Also last month, car dealer Kapil Dilawari bought a spec mansion for $16.4 million. In February, mortgage boss Peter R. Norden sold a spec mansion to senior care facilities operator David Reis for $16.9 million.