The luxury housing market in Palm Beach County is coming to an end, with lawyers, executives and entrepreneurs snapping up homes, sometimes at record prices.
In Boca Raton, SRD Building Corporation, a luxury-spec builder led by Steve and Scott Dingle, sold a spec mansion at 298 West Key Palm Road for $22.6 million to Phillipp, an attorney and trucking company executive, records show. Kirschbaum.
David Roberts of Royal Palm Properties listed and Emanuel Fleurantin of Woyce Realty Investments & Consulting brought in buyers.
Completed last year, the waterfront mansion is 11,500 square feet on 0.6 acres and has six bedrooms, eight bathrooms and two and a half bathrooms, according to property records. It includes a swimming pool and a marina and is located within the Royal Palms Yacht and Country Club, where the Dingle brothers built and sold the spec mansion for a record-breaking price. SRD Building purchased the property in 2020 for $9.4 million, records show.
This isn’t Kirschbaum’s first South Florida mansion. Last June, he paid $13.9 million for the Fort Lauderdale beachfront mansion, records show.
Also in Boca Raton, attorney Nicholas G. Milano of Kirkland & Ellis sold his waterfront mansion at 2633 Spanish River Road to Howard Panes for $18 million. Senada Adzem of Douglas Elliman represented both parties in the transaction.
Records show the nearly 10,000-square-foot mansion, built in 2021, sits on 0.4 acres and includes six bedrooms, eight bathrooms, one and a half bathrooms, a pool and dock. Milan bought the home in 2021 for $16 million, records show.
Just north of the Jupiter Inlet Colony, records show local surgeon Ryan Simovitch and his wife Shana Simovitch sold their waterfront home at 102 Lighthouse Drive to Jodi Oh, as trustees for the Oh Family Dynasty Trust, for $20 million. Milla Russo of Illustrated Properties and Christine Sheehan of Florida Living Realty have listed. Karina Benzineb of One Sotheby’s International Realty brought in the buyers.
The sale marks a record price for the Jupiter Inlet Colony, which has seen prices soar since South Florida’s pandemic real estate boom. Built in 2020, the 7,200-square-foot house sits on 0.7 acres and has five bedrooms, five bathrooms, and three and a half bathrooms. The Simovics bought the property in 2018 for $2.9 million, records show.
Farther west, financier John Fath and his wife Elizabeth Fath put their ambassador estate in Wellington, the county’s equestrian district, for $13.5 million, according to property records. The home at 3460 Road was sold to Penne Silverman. Barry Ratner and Kristina Lloyd of Douglas Elliman listed and Maria Mendelsohn and Douglas Elliman brought in buyers.
Silverman is chief financial officer of San Francisco-based investment firm Highshore Holdings. John Fath is the managing partner of BTG Pactual, a Brazilian financial services company. His daughter, Coco Fath, is a professional equestrian who graduated from Cornell University last month, according to LinkedIn.
The Ambassador Road home is 4,500 square feet on 0.5 acres in Equestrian Club Estates and was recently renovated, according to the listing. Records show it was built in 2000 and has four bedrooms, five and one-half bathrooms and includes a swimming pool.
The sale comes a month after BET co-founder Sheila Johnson sold her nearby equestrian estate for $21.7 million.
