Michigan developer pays record $28M for Boca Raton spec mansion 

Waterfront sale beats city’s record set in October by same spec builders

Frances Moceri and 372 E Alexander Palm Road (Moceri, Google Maps, Getty)
Frances Moceri and 372 E Alexander Palm Road (Moceri, Google Maps, Getty)

Brothers Steve and Scott Dingle, of SRD Building Corporation, sold a waterfront spec mansion in Boca Raton’s Royal Palm Yacht & Country Club for a record $28 million. 

The sale marks their second Boca Raton price record in five months.

Records show a trust tied to SRD Building sold the house at 372 East Alexander Palm Road to Frances Moceri. Moceri is the matriarch of the family that owns Moceri Companies, a developer that has built more than 55,000 homes across Michigan, according to its website.

She and her late husband, Dominic Moceri, bought a house on the golf course at the Boca Raton Golf Club for $4.8 million in 2017, property records show.

SRD Building is a prominent spec developer in Royal Palm Yacht & Country Club, a gated waterfront community in Boca Raton that has attracted big name residents, including billionaire lumber heiress Maggie Hardy Knox.

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David W. Roberts of Royal Palm Properties represented both the sellers and the buyer in the deal.

SRD Building bought the nearly 0.6-acre property for $7.5 million in 2021, records show. They demolished the house on the site and built a 10,700-square-foot, six-bedroom, seven-bathroom mansion with 124 feet of waterfront. The home also includes three half-bathrooms, a six-car garage, a pool and dock, records and the listing show.

The $28 million sale price beats Boca Raton’s price record set by another SRD Building waterfront spec mansion that sold for $25.6 million in October. That home, also in Royal Palm Yacht & Country Club, broke the Boca Raton price record set in 2021. 

Waterfront properties have dominated Boca Raton’s luxury residential real estate market, especially in Royal Palm Yacht & Country Club. While the market has cooled from its pandemic peak, price growth for luxury properties has held.

In November, a married pair of real estate investors sold a waterfront spec mansion in Royal Palm Yacht & Country Club for $18.6 million. They had commissioned SRD Building to construct the house. In July, a carpet mogul bought a flipped spec mansion built by SRD Building for $17.2 million.