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Doctor sells waterfront Jupiter estate for record $28M
“That was the sticks when he bought it,” said listing agent Jennifer Hyland
A photo illustration of 19300 Loxahatchee River Road in Jupiter (Getty, Corcoran Group)
A local doctor, an elusive tech executive and a dealmaker who came out of retirement for one last gig –– it almost sounds like the start of an epic mystery. It’s actually the cast of characters involved in Jupiter’s latest record sale.
Dr. Mazin Shikara and his wife, Julissa Shikara, sold their waterfront mansion along the Loxahatchee River for $27.5 million, listing agent Jennifer Hyland of Corcoran confirmed.
The buyer, she said, is a retired tech executive who sold his company and splits his time between Montana and Florida.
She had the listing alongside Kimberly Cuomo of Keller Williams Realty Jupiter. Hyland declined to identify the buyer’s broker, saying only that the agent is a friend of the buyer’s father. The sale has not yet hit records.
“He came out of retirement just to do this deal,” she said.
The sale marks the priciest in Jupiter since a race car driver sold his waterfront Admirals Cove mansion for $24 million in 2021.
The Shikaras bought the 6.25-acre property for $2.7 million in 2012, records show. He is a physician and founder and CEO of Medical Consultants Management, which provides management services to private medical practices.
“[It] was the sticks when he bought it,” Hyland said. “It made a nice return on his investment.”
The couple built the 12,100-square-foot mansion in 2016, according to property records.
The main house includes six bedrooms, six bathrooms and one-half bathroom. The property also has an 1,800-square-foot, two-bedroom, two-bathroom guest house, a pool and a 107-foot dock, Hyland said. The estate spans 254 feet of frontage on the Loxahatchee River, and has a 640-foot driveway lined by palm trees, with mango groves on either side.
Hyland said the seller planted the mangos and palms for the tax benefits of an agricultural property.
The Jupiter market has shifted dramatically since the Shikaras bought their property. Covid fueled a boom in migration to South Florida and a surge in demand for luxury real estate. Hyland said she views real estate there as a “finite resource,” because it is on the Gulf Stream.
“Once you get 10 miles north of Jupiter, you lose the turquoise waters,” she said. Jupiter’s demographic is wealthy and its real estate is pricey, but its prices pale in comparison to Palm Beach, Hyland said.
“We’re seeing some Palm Beachers cash out and head up to Jupiter,” she said, along with an influx of West Coast buyers.
Jupiter saw a string of luxury sales this month in Admirals Cove, a gated boating and golfing community. A trust linked to a pair of Boston executives bought a waterfront mansion for $16 million. Dodgers co-owner Jamie McCourt sold her mansion for $15.5 million. A food services boss bought a waterfront spec mansion for $17.8 million.