The Real Deal Miami

Developer sells equestrian estate in Wellington for $9.7M

Estate boasts three acres, an 18-stall barn and jump ring

December 17, 2015 11:15AM
By Sean Stewart-Muniz

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The equestrian estate at 3238 Grand Prix Farms

The equestrian estate at 3238 Grand Prix Farms

A well-known West Palm Beach developer just sold his family’s lavish equestrian property in Wellington for $9.675 million.

The three-acre estate is located 3238 Grand Prix Farms Drive, which lies within the gated Grand Prix Village housing development that boasts more barns than mansions.

Its features include an 18-stall barn that was built in 2012, as well as a separate two-story garage with a modest three-bedroom apartment on the second floor. The estate also boasts a sizable jump ring for practice runs.

For the last three years, the estate has been owned by a company managed by Murray H. Goodman, founder and chairman of the Goodman Company development firm. Goodman first started the firm in 1960 and his since built about 24 million square feet of commercial space, according to the firm’s website.

The firm has since stopped building new projects, but Goodman is still looking for new properties to acquire.

Property records show the buyer is a company called the Los Angeles Land Investment Corp., which was registered in the Philippines. No financing was recorded, which means no signatures give away the company’s manager, so the true buyer is unknown.

Together, the garage and the barn have roughly 10,603 square feet of space. Los Angeles Land Investment paid $912 per square foot for the property.

Comparatively, Goodman paid $5.725 million, or $540 per square foot in 2012.

Redfin shows the listing agent was Marley Goodman Overman, the daughter of Murray Goodman, an accomplished equestrian as well as a Realtor with Illustrated properties. The buyer was represented by Rodolfo Maya, also of Illustrated Properties.