Boca Raton spec mansion sells for $29M in offseason deal

Following a busy season for Boca Raton’s priciest neighborhood, another waterfront spec mansion in Royal Palm Yacht & Country Club sold for $28.5 million.

Records show the 360 East Alexander Palm Road Trust, managed by local attorney Jay M. Sakalo, sold the house at 360 East Alexander Palm Road to another trust named for the address and managed by Coral Springs-based attorney Larry Rothenberg. 

The true buyer and seller are unknown.

David Roberts of Royal Palm Properties had the listing, and Joe Liguori of Premier Estate Properties brought the buyer.

The selling entity bought the half-acre property for $10.5 million in 2022, records show. The trust hired local development firm SRD Building, led by brothers Steve and Scott Dingle, to tear down the existing home and construct a 10,700-square-foot mansion, according to records and the listing. The Dingles completed the seven-bedroom spec mansion earlier this year, the listing shows. It has seven bathrooms, three half-bathrooms, a pool and a dock, according to the listing.

Roberts is the go-to agent for Royal Palm Yacht & Country Club spec homes built by the Dingles. He listed the mansion for $33 million in March before upping the price to $34 million in May, Compass shows. 

The sale marks the latest eight-figure deal in Royal Palm, Boca Raton’s priciest gated neighborhood and a hub of luxury real estate activity. 

The Dingle brothers set a record in May when they paid $36 million for a 1.7-acre waterfront teardown in the community, making it the most expensive home ever sold in Boca Raton. 

Other recent deals in the gated golf community include John and Barbara Simoni’s June sale of their waterfront mansion for $19 million. Also last month, Premier Legal Advantage founder Bridget Maguire bought a mansion for $19.5 million.