One of America’s Most Expensive Listings Hits the Florida Luxury Real Estate Market at $159 Million

November 27, 2015

According to a Wall Street Journal posting on November 11, 2015, Le Palais Royal located in Hillsboro Beach, Florida is returning to the luxury real estate market with a price tag of $159M making it one of the most expensive MLS listed properties in America.

Modeled after the Palace of Versailles in France, Le Palais Royal was initially listed for $139M in September 2014 and was removed from the MLS system a year later according to listing agent Mayi de la Vega of One Sotheby’s International Realty. The newly listed property will now offer more land, two guest houses and a subterranean entertainment complex for an additional $20M above the initial asking price.

According to Joseph Leone, the project manager who has overseen the construction, the owner decided to take the house off the market until it was closer to completion. He has also included an adjacent 1.5 acre lot in order to provide more land and entertaining spaces. The waterfront estate now offers approximately 4.5 acres between the Atlantic Ocean and the Intracoastal Waterway.

The palatial estate boasts 60,500 square feet and will feature 11 bedrooms including a master suite with a heated plunge pool on the balcony, an 18-seat IMAX home theater, a 30-car subterranean garage, a 3,000 bottle wine cellar and a 1,300-gallon built-in aquarium. The residence boasts over $3 million worth of gold leaf, a $2 million marble staircase, and six waterfalls. Exterior features include a 4,500 square foot infinity pool with swim-up bar and water slide, a glass-bottomed hot tub suspended above the pool, a putting green, an outdoor kitchen with a pizza oven and two boat docks on the Intracoastal. Read More

If you would like more information about this opulent waterfront estate or any other luxury real estate opportunites, please contact Randy Ely and Nicholas Malinosky.

Just Listed for Sale in East Delray Beach New Construction Intracoastal Estate with Dock

November 21, 2015

A new direct Intracoastal listing just hit the South Florida luxury real estate market. The newly constructed beach area estate located at 1002 Seasage Drive, Delray Beach, Florida was listed in the Multiple Listing Service on November 19, 2015 for $6.975M. The brand new two story residence is also featured on Corcoran.com, Zillow, Trulia and Realtor.com.

Built by Seaside Builders, this newly constructed direct Intracoastal estate is located in the Seagate Estate Section of East Delray Beach in a no-wake zone. The beach area estate is minutes from the Atlantic Ocean and Atlantic Avenue. The property features incredible direct Intracoastal views throughout; expansive and open living and dining room which opens to the outdoor loggia overlooking the pool and water; large gourmet kitchen, butler’s pantry and family room which open to the spacious loggia; first floor club room with oversized windows for optimal water views; and first floor guest suite. The second floor features a spacious master suite with sitting room overlooking the water with balcony, his and her closets, and beautiful master bath; two additional guest suites with en suite bathrooms and separate balconies; and a loft. Enjoy the pool and spa complete with outdoor terrace, covered loggias and concrete dock for the boating enthusiast. Other amenities include elevator, spectacular millwork and custom finishes throughout, gorgeous gas fireplace, four car garage, and fantastic large lot. Extremely rare opportunity in East Delray Beach in a no wake zone with unobstructed direct Intracoastal views.

This amazing waterfront estate is exclusively listed by Randy Ely and Nick Malinosky of the Douglas Elliman Real Estate. Property Details

REAL Trends/Wall Street Journal, The Thousand recently ranked Randy and Nick as #1 in Florida and #9 in the nation for Top Team Average Sales Price of $8.17M. Their current luxury listing inventory includes not only 1002 Seasage Drive, but also a beach area estate in Gulf Stream (330 Banyan Rd), one in Highland Beach (4325 Tranquility Dr) and another in Delray Beach (1202 Vista del Mar Dr N). Randy and Nick closed 916 Bermuda Gardens Rd on September 4, 2015.

If you would like to discuss the current the Luxury Real Estate Market, please contact Randy Ely and Nicholas Malinosky, the #1 Luxury Team in the Beach Area.

The Corcoran Report Third Quarter 2015 Palm Beach County

November 20, 2015

The Douglas Elliman Real Estate just released their Third Quarter 2015 report for Palm Beach County and here is the summary: Sales Were Strong!

Median price climbed 11% and average price and average price per square foot each rose 5%. Other good news was reflected by the decline of the average days on market which was down 14% to 73 days. The strength of the market was seen across the board including single-family homes, condos/co-ops, and townhomes/villas.

The Corcoran Report gives a location overview of each city and/or town. Read More

If you would like to discuss the current the Luxury Real Estate Market, please contact Randy Ely and Nicholas Malinosky, the #1 Luxury Team in the Beach Area.

Palm Beach’s Highest Taxed Estates

November 11, 2015

The Palm Beach Daily News The Shiny Sheet posted a list of Palm Beach’s highest taxed estates. The list which contains 58 properties was compiled by the Palm Beach Daily News based on information from the Palm Beach County Tax Collector and Property Appraiser’s websites and other sources.

The list is arranged in descending order and includes notations about multiple properties, homestead and/or historic exemptions, ownership name, and if the owner has petitioned the local state-authorized Value Adjustment Board for a review of the assigned value. All of the properties are located in the town of Palm Beach.

The highest taxed property is comprised of five parcels on Blossom Way with a total tax of $2.23M. There are six total properties with a tax bill of over $1M with the remaining 52 properties ranging from $978,640 to $408,663. Read More

For more information about the South Florida Luxury Real Estate Market, please contact Randy Ely and Nicholas Malinosky, the #1 Luxury Team in the Beach Area.

Manalapan Tops Palm Beach for 2015 Third Quarter Average Sales Price

November 6, 2015

According to a posting on The Real Deal South Florida Real Estate News, Manalapan had an average sales price of $9,918,500 during the 2015 third quarter coming in higher than Palm Beach’s average of $5,562,815. Amazingly, Manalapan’s sales were comprised of just 8 transactions compared to 27 for Palm Beach. The $33M sale of 860 S Ocean Blvd in Manalapan helped boost the average sales price. Palm Beach typically has a higher price point and sales average than the neighboring coastal communities.

Manalapan has been noticed by purchasers who are seeking a quieter location. It is a private town of only 429 residents and provides a solitude that is not always available in Palm Beach. Lois Pope, widow of National Enquirer founder Generoso Pope, motivational speaker Tony Robbins and musician Billy Joel all have homes in Manalapan.

Manalapan also offers large ocean-to-Intracoastal parcels which are not readily available in Palm Beach. Residents can enjoy direct oceanfront views as well as dockage on the Intracoastal. With a close proximity to the Boynton Beach inlet, boaters can access the ocean in minutes.

Supply and demand are playing a role in the Manalapan luxury real estate market. There are currently 20 properties for sale in the town and seven of them are listed for more than $5M. Almost all are more than 6,500 square feet and some are up to 10,000 square feet.

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Randy Ely and Nicholas Malinosky sold the ocean-to-Intracoastal estate located at 860 South Ocean Boulevard in Manalapan in September 2015. The gated compound was listed for $16.495M. Please contact Randy and Nick if you are interested in selling or buying in the beach area.

For more information about the South Florida Luxury Real Estate Market, please contact Randy Ely and Nicholas Malinosky, the #1 Luxury Team in the Beach Area.

Just Listed Direct Oceanfront Estate in Gulf Stream, Florida

November 3, 2015

A direct oceanfront listing just hit the South Florida luxury real estate market. The oceanfront estate located at 1255 North Ocean Boulevard in Gulf Stream, Florida was listed in the Multiple Listing Service on November 3, 2015 for $17.995M. The oceanfront residence is also featured on Corcoran.com, Zillow, Trulia and Realtor.com.

This Oceanfront Estate is situated on South Florida’s pristine shoreline in the exclusive Town of Gulf Stream. Ideally located one mile from Delray Beach’s famed Atlantic Avenue, the gated Bermuda style residence is nestled off A1A with easy access to Gulf Stream School and a scenic drive to Palm Beach and Boca Raton for fine dining and shopping.

Newly completed in 2012, this residence was created to showcase the spectacular ocean vistas while offering an inviting elegance. Located on over an acre, the compound is accessed through a gated entry and private drive through a pergola that leads to the palm-lined motor court and courtyard. The two story entrance hall unveils the impressive staircase, coffered ceilings, and oak floors leading to the stunning ocean views. First floor interior features include formal living room with gas fireplace, formal dining room and connecting butler’s pantry, family room with media center, numerous French doors leading to the oceanside verandah, and two guest bedrooms with en suite baths. The gourmet kitchen with custom cabinetry, marble counters and walnut-topped island, is complete with state-of-the-art appliances including Wolf 48-inch dual-fuel range, triple ovens and microwave; two Miele dishwashers; and Sub-Zero refrigerator/freezer and wine cooler.

The second floor can be accessed via stairway or elevator and features two additional guest rooms with en suite baths, oceanfront balcony, and den. The luxurious and spacious master suite has a double door entry and is further enhanced by a private foyer, cathedral ceiling, morning bar, library, oceanfront balcony, double wardrobe room, and marble master bath overlooking the ocean.

The lower level houses the air conditioned six-bay finished garage, 1,500 bottle custom wine cellar, storage space, a powder room and a lounge area perfect for a private retreat. With abundant green spaces and manicured lawns, the grounds are perfectly landscaped and offer a serene setting to enjoy this impressive estate. The oceanside resort-style pool is complete with a waterfall spa, LED night lighting, terrace and cabana bath. Seaside entertaining options are limitless thanks to the outdoor living room and dining area complete with wood-burning fireplace and cooking area with gas grill hook-up. The guest cottage is expertly placed on the grounds for privacy and convenience and includes a wet bar and full bath. Additional amenities include three-stop elevator, full house generator, Mellon security system, two laundry rooms, Smart-House systems and outstanding craftsmanship.

This Gulf Stream oceanfront masterpiece offers the very best in luxury living. Seaside elegance matched with top-of-the-line finishes and amenities create the perfect paradise to call home.

This amazing oceanfront estate is exclusively listed by Randy Ely and Nick Malinosky of the Douglas Elliman Real Estate. REAL Trends/Wall Street Journal, The Thousand recently ranked Randy and Nick as #1 in Florida and #9 in the nation for Top Team Average Sales Price of $8.17M. Their current luxury listing inventory includes not only 1255 North Ocean Boulevard, but also a direct ocean estate in Delray Beach (1171 S Ocean Blvd) and another in Ocean Ridge (6125 N Ocean Blvd). Randy and Nick closed 860 S Ocean Blvd, Manalapan on September 4, 2015.

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