Boca Raton’s most expensive waterfront property sold for $40M – only for Florida mansion to be knocked down
A waterfront mansion in Boca Raton, Florida has sold for a record $40 million.
But despite only being built in the 1990s, the buyer plans to demolish it and build a new house in its place.
It has two outdoor pools and sits on 400 feet of waterfront on the Intracoastal Waterway and a canal.
The property is located on 4.5 acres in the chic Royal Palm Yacht & Country Club.
It was first listed by agents Jill Hertzberg and Jon Mann of 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, Florida
It sits on 400 feet of water on the Intracoastal Waterway and a canal
It has two swimming pools, including an infinity pool
Hertzberg and Mann told it The Wall Street Journal this week that it sold for $40 million – a record for the region.
The house was built over several years by the late financial publisher 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 WJ.
It is not known what the land originally cost.
There is a three-bedroom main house with a curved front that follows the edge of the water it overlooks, plus a guest house.
In the main house, at 10,000 square feet, the master bedroom offers water views, dual bathrooms, a workout room and a rooftop deck.
High arched windows and circular staircases are among the unique architectural elements of the main building.
‘My father loved a spiral staircase,’ Randy Parker told the WSJ in 2023 when it was first listed.
When it was completed in the 1990s, it had an advanced smart home system, but it is “probably dumber than the worst cell phone,” he added.
“I remember you pressed a button and it dimmed and opened,” he said. ‘One time my 2-year-old son found the off switch for the entire system and the whole house collapsed.’
There is a three-bedroom main house with a curved front that follows the edge of the water it overlooks
The infinity pool at the mansion on Boca Raton’s waterfront can be seen at night
The property is located on 4.5 acres in the chic Royal Palm Yacht & Country Club
Boca Raton, Florida is a real estate hotspot
The front of the house, which was built over several years by the late financial publisher Glen K. Parker and his accountant wife Sandy
The garden has been landscaped, but it can also be destroyed if the country house is demolished
In the main house, at 10,000 square feet, the master bedroom offers water views, double bathrooms, a workout room and a roof terrace
The garden contains trees and plants from all over the world. It is not clear whether these will be lost.
Even when it was listed last year, officers said they expected the house to be demolished and replaced with a resort-style property.
Luxury homebuilder Steven Dingle is the buyer of record. Officers said he plans to demolish the 1990s house and guesthouse and install a resort-style property in its place.
He and his brother, Scott Dingle, are founders of SRD Building, a Boca Raton construction company known for its luxury mansions.
They were behind the sale of a $28 million property in the same Royal Palm community – the previous record holder for the area.
The Royal Palm Yacht & Country Club real estate market is hot right now. The average home sales price was $7.5 million in March.
That’s up 37.5 percent from last year, according to Redfin data.