South Florida’s high-end residential market took off in 2021, setting a string of neighborhood and city records that would be broken within weeks or months. Finance and tech titans, as well as a number of hidden buyers, picked up some of the most expensive real estate in the tri-county region.
The majority of the top 10 deals were for single-family homes in Palm Beach County and included household names such as Larry Ellison and the Ziff family.
Out-of-state buyers drove prices to record highs in all price brackets, prompting many sellers to cash in and leave South Florida. In the fall, single-family home sales began to slow compared to last year, thanks in part to continued rising prices and declining inventory.
Here are the top five deals that closed this year:
Private equity titan buys Palm Beach estate for $123M
The sale of an oceanfront mansion that was built on land previously owned by former President Donald Trump set a record for residential sales throughout Florida when the deal closed in February.
A company managed by luxury homebuilder Mark Pulte, the son of Pulte Homes founder William Pulte, built and sold the spec home at 535 North County Road to a Florida land trust that The Real Deal reported is linked to private equity billionaire Scott Shleifer.
The sale was recorded at $122.7 million. The property was on the market for $140 million.
Shleifer is a partner and co-founder of Tiger Global Management, an investment firm based in New York with offices in Hong Kong, Beijing, Singapore and Bangalore.
The Palm Beach lot was previously part of a larger property that Trump sold to Russian billionaire Dmitry Rybolovlev for $95 million in 2008.
German entrepreneur sells oceanfront Palm Beach estate for $110M
German entrepreneur and philanthropist Dr. Ernst Langner sold his ocean-to-lake estate in Palm Beach for nearly $110 million in June.
A trust managed by Langner sold the 15,954-square-foot mansion at 1840 South Ocean Boulevard for $109.6 million to another trust. It has nine bedrooms, ten full bathrooms and three half-bathrooms.
The 2.7-acre property last sold in 2012 for $23.5 million. Langner demolished the previous home and completed the new estate in 2014.
Punch time clock heir sells oceanfront Palm Beach estate for $95M
The grandson of E.G. Watkins, the creator of the punch time clock, sold his oceanfront Palm Beach estate for $95 million in May.
Edward G. Watkins sold the mansion at 1341 South Ocean Boulevard to a hidden trust. Watkins’ trust purchased the property for $17.7 million in 2001 and built a new home in 2003.
The nearly 14,000-square-foot, seven-bedroom mansion hit the market in the summer of 2020 for $110 million.
Ziff family sells South Florida compound for $94M
In March, the Ziff family sold their 15-acre estate in Manalapan for about $94 million, six years after it was first listed for just under $200 million. A land trust purchased the property.
The ocean-to-lake compound at 2000 South Ocean Boulevard–with 1,200 feet on the Atlantic Ocean and 1,300 feet along Lake Worth–had been in the Ziff family for decades. The estate has more than 30 bedrooms and its wings connect via tunnels, including one underneath South Ocean Boulevard that is furnished and features a 15-foot-wide gallery.
The property has a 12-bedroom main house, two four-bedroom beachside cottages, a seven-bedroom Mango House, a staff house, and amenities that include a swimming pool, golf area, tennis court and half-basketball court.
Oracle co-founder pays $80M for North Palm Beach estate
Larry Ellison, billionaire co-founder of Oracle Corp., paid $80 million for the North Palm Beach estate he reportedly plans to tear down.
Hedge fund manager Gabriel A. Hoffman sold the 7.4-acre estate at 12525 Seminole Beach Road in April.
The property is home to a Tuscan-style, 15,514-square-foot mansion, built in 1991, with seven bedrooms, 11 bathrooms, three half-baths and more than 520 feet of ocean frontage. Amenities include a pool, theater, wine room, chef’s kitchen, tennis court, and guest suite.