Deals are closing in Palm Beach County’s luxury residential market, with lawyers, C-suite executives and entrepreneurs snapping up houses, sometimes at record prices.
In Boca Raton, luxury spec builder SRD Building Corporation, led by Steve and Scott Dingle, sold a spec mansion at 298 West Key Palm Road to attorney and freight company executive Phillipp Kirschbaum for $22.6 million, records show.
David Roberts of Royal Palm Properties had the listing, and Emanuel Fleurantin with Woyce Realty Investments & Consulting brought the buyer.
Completed last year, the waterfront mansion on 0.6 acres spans 11,500 square feet, with six bedrooms, eight bathrooms and two half-bathrooms, according to property records. It includes a pool and a dock, and is within the Royal Palm Yacht & Country Club, where the Dingle brothers have built and sold spec mansions for record-breaking prices. SRD Building bought the property for $9.4 million in 2020, records show.
This isn’t Kirschbaum’s first South Florida mansion. Last June, he bought a waterfront Fort Lauderdale mansion for $13.9 million, records show.
Also in Boca Raton, Nicholas G. Milano, an attorney with Kirkland & Ellis, sold a waterfront mansion at 2633 Spanish River Road to Howard Panes for $18 million, according to property records. Senada Adzem of Douglas Elliman represented both sides of the deal.
Built in 2021 on 0.4-acres, the nearly 10,000-square-foot mansion includes six bedrooms, eight bathrooms, one half-bathroom, a pool and dock, records show. Milano bought the home for $16 million in 2021, records show.
Further north in Jupiter Inlet Colony, records show local surgeon Ryan Simovitch and his wife, Shana Simovitch, sold their waterfront home at 102 Lighthouse Drive to Jodi Oh as trustee of the Oh Family Dynasty Trust for $20 million. Milla Russo of Illustrated Properties and Christine Sheehan of Florida Living Realty had the listing. Karina Benzineb of One Sotheby’s International Realty brought the buyer.
The sale marks a price record for Jupiter Inlet Colony, where prices have surged since South Florida’s pandemic real estate boom. Built in 2020 on 0.7-acres, the 7,200-square-foot house has five bedrooms, five bathrooms, and three half-bathrooms. The Simovitchs bought the property for $2.9 million in 2018, records show.
Further west, in the county’s equestrian seat of Wellington, financier John Fath and his wife, Elizabeth Fath, sold their home at 3460 Ambassador Road to Penne Silverman for $13.5 million, according to property records. Barry Ratner and Kristina Lloyd of Douglas Elliman had the listing, and Maria Mendelsohn, also with Douglas Elliman, brought the buyer.
Silverman is CFO of San Francisco-based investment firm Highshore Holdings. John Fath is a managing partner at BTG Pactual, a Brazilian financial services firm. His daughter, Coco Fath, is a professional equestrian and graduated from Cornell University last month, LinkedIn shows.
The 0.5-acre, 4,500-square-foot home on Ambassador Road is in the Equestrian Club Estates and was recently renovated, according to the listing. Built in 2000, it has four bedrooms, five bathrooms and one half-bathroom, and includes a pool, records show.
The sale comes just a month after BET co-founder Sheila Johnson sold her nearby equestrian estate for $21.7 million.