The Real Deal Miami

Listings divide Jupiter Island estate into 3 parcels

Each parcel has its own listing agent and asking price; all three are available for $51 million

511 South Beach Road, Jupiter Island

The owner of a luxury estate in Jupiter Island listed the 12-acre property for sale in three parcels, each with a different listing agent and asking price. The asking prices for the three parcels are $8.5 million, $10.5 million and $32 million, or $51 million for all three.

The owner, Frank Luppi, a retired businessman who resides in Europe, listed about 8.5 acres of the 12-acre estate for sale with an asking price of $65 million last year before he withdrew the listing in March.

Back on the market now, the largest parcel spans 5.34 oceanfront acres and encompasses a fully furnished main house and four other buildings. The listing agents, Ken Meierling of Engel & Völkers and his wife Kandyce, are asking $32 million.

A 1.7-acre parcel on the Intracoastal Waterway with a four-bedroom house, plus a pool and poll house, is listed for $10.5 million. Jennifer Hyland of Illustrated Properties is the listing agent.

Another 1.7 acres with a dock on the Intracoastal is listed for $8.5 million with an agent of Waterfront Properties and Club Communities, Susan Turner.

Luppi, 82, said he built the entire 12-acre estate at 511 South Beach Road over a 30-year period.  He is a retired businessman who is based in Europe and wants to sell the estate because he has been spending less time in Jupiter Island. [Wall Street Journal]Mike Seemuth