A Florida mansion of $ 30 million sets new sales record twice this year

3715 S. Ocean Blvd in Highland Beach is a three-level storm-proof fortress raised on stilts and constructed of cast concrete and storm-proof glass.

Daniel Petroni

A megahome by the water in Highland Beach has been sold twice this year, and each time it has raised the bar for this city in South Florida, which has become one of the hottest real estate markets in the state.

Located in the eastern part of Palm Beach County, Highland Beach is just over 1 square mile. While property prices are rising rapidly in the small town, buyers can see an opportunity as the price per. square feet is less than what homeowners pay in nearby Palm Beach and Miami Beach.

The 11,000-square-foot home at 3715 South Ocean Boulevard is the most expensive home ever sold in Highland Beach. The house is built of concrete and glass and has seven bedrooms and nine bathrooms, but it is its insane features like walls and floors made of lava that have probably helped it bring in $ 30.25 million.

One of the home’s two spiral staircases built of polished concrete leading to the residence’s second level 17 feet above sea level.

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“The house is a fortress by the sea designed to withstand superstorms,” ​​said listing agent Senada Adzem of Douglas Elliman real estate agent.

The residence spans 120 feet by the ocean and is located about 50 miles north of Miami and 31 miles south of Palm Beach.

According to Multiple Listing Service records, the house was first sold in March for a record $ 21.57 million. Adzem represented the buyers in that trade, a couple who decided to sell the home shortly after they bought it.

“The family wanted to swap and find a much larger home that would meet their needs,” Adzem said.

The third floor of the residence includes a cantilevered home office that overlooks the infinity pool and ocean.

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The couple put the home back on the market in July, this time with Adzem as their listing agent and a bid price of $ 30 million. The new price tag was about 33% higher than what the couple paid for it four months earlier. And just a few short weeks after bringing it to market, the home’s offer price was raised to $ 32 million – $ 10 million more than its previous selling price.

“In a typical real estate market, it’s not a good strategy to increase a listing price,” Adzem said, adding that nothing is typical of the South Florida real estate market this year.

Just three weeks after that $ 2 million price increase, the fully furnished home was sold for $ 30.25 million, breaking the record set by the mansion a few months earlier. With the sale, the value of the home increased by more than 40%, bringing buyers who became sellers a premium of nearly $ 8.7 million over the course of a seven-month flip.

“We were dealing with an unmotivated salesperson and a lot of interested leads, which triggered a prize,” Adzem explained.

And while the mansion broke records, so did the entire city. The average selling price of a single-family home in Highland Beach was $ 9.8 million in the third quarter, up 178.4% year-over-year, according to the Elliman Report.

The gain outperformed Palm Beach, which saw an 111.4% increase, and nearby Boca Raton, which saw a 38.5% increase in the average selling price of a single-family home over the same period.

In fact, the average selling price rose higher in Highland Beach than any other market tracked in the Elliman report, surpassing not just all of southern Florida, but also New York and Los Angeles.

Private path to the beach.

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Jonathan Miller, president of Miller Samuel Property Valuations and Consultants, attributed the massive rise in sales prices in part to a continuous decline in inventory. Highland Beach has seen 10 straight quarters of inventory compression, he said. Only eight homes were available for sale in the third quarter. In total, the city had 4,165 housing units in 2009, according to the Property Appraiser’s Office of Palm Beach County.

“It’s a niche market and very much depends on the quality of the individual listings that come into the market,” Miller said.

And while a small market may have its average selling price data more easily skewed by one or two large (or small) sales, both the average selling price and the average price per share are square feet in Highland Beach rose to new records in each of the last three quarters of 2021, according to Miller.

“A higher quality of inventory creates an environment of volatility and leads to a new level of extreme prices,” he said.

Although prices are higher than ever, Adzem insists that Highland Beach is still a “relative trade.”

“We listed this Highland Beach property under $ 3,000 per square foot. … Oceanfront trophy homes in Palm Beach trade north for $ 5,000 [per square foot] and newer homes on the Bay of Miami Beach are trading north for $ 3,500 [per square foot]. “

Here’s a closer look at the most expensive property ever sold in this record-breaking city.

A massive spiral staircase rises to the second level of the home, where vertical slats span the facade.

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Part of the home’s facade is covered with vertical slats designed to reduce the amount of direct sunlight that penetrates the home’s windows and help keep the home cooler inside. It is an architectural feature known as the “breeze soleil.” In English, the French term means sunblock.

Living room

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The second floor of the mega-home is 17 feet above sea level, making the high views from the living room even more impressive.

The upper part of the living room fireplace appears to be hovering over the fire.

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The central feature of the room is a massive fireplace wrapped in book-matched marble. Part of it appears to be hovering over the fire.

Adzem said many of the surfaces throughout the home, including the living area, are lined with imported lava rock. The floors are a polished lava from Etna in Italy, while some of the walls are covered with a porous, unpolished lava from Mongolia.

The bar is also covered in Italian lava. It has an epic sea view along with steel bar stools upholstered in cowhide.

Green wall consisting of 1,800 individual plants laid out to create waves of green.

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An entire wall next to the living room is covered with lush green vegetation. The green mosaic consists of 1,800 individual plant species that are laid out to create waves of green in varying shades.

The vegetation blooms under special botanical light fixtures and it has an automatic irrigation system hidden behind the leaves.

The sea view from the elevated L-shaped infinity pool on the second level of the residence.

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Also on the elevated second level is an L-shaped infinity pool, hot tub and outdoor dining area.

Kitchen and family room.

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The home’s main kitchen opens to the family room and has stainless steel cabinets and a polished black granite countertop from India. There is also another kitchen in the home.

dinning room

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The dining room seats 12 and includes a wine storage display that can hold more than 1,200 bottles, according to Adzem.

The dining area’s floor-to-ceiling wine storage has a capacity of 1,200 bottles.

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The wine balances on wooden peg shelves, mounted on a solid wall of lava stone. It can be seen and accessed through floor-to-ceiling glass doors.

Owner’s suite bedroom.

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The owner’s suite is on the third level of the home. Adzem said it spans more than 3,000 square feet, including an owner’s bedroom located over the tops of palm trees overlooking the ocean.

Owner suite seating area and midnight bar.

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The expansive bedrooms include a seating area, fireplace and midnight bar.

Owner’s suite bath.

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There is also an owner’s suite bath covered in milky white marble.

Outdoor hot tub from owner’s bath.

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The suite’s bath opens onto an outdoor area with jacuzzi, imitation green wall and shower.

Views through floor-to-ceiling windows in the owner’s suites home office.

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The suite also includes a cantilevered home office with three floor-to-ceiling glass walls,

Plus there is an owner’s suite gym.

Owner’s suite closet.

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The suite’s walk-in closet requires fingerprint access to enter it.

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