Boca Mansion Asking $25M Leads Palm Beach Luxury Contracts

A mansion in Boca Raton’s Royal Palm Yacht & Country Club with an asking price of $25 million led an active week of signed contracts in Palm Beach County.

Buyers signed 17 contracts between July 13 and July 19, according to a weekly report by Douglas Elliman’s Eklund-Gomes team. The team tracks all listings in Palm Beach County $3 million and up. The total asking dollar volume of the contracts signed last week was $110.7 million, up over 50 percent from the previous week.

The previous report recorded 13 contracts with a total asking dollar volume of $73 million.

Of the contracts marked pending last week, 15 were for single-family homes. They totaled $100.3 million in asking dollar volume and spent an average of 119 days on the market. The average contract price was $6.7 million, or about $1,326 per square foot.

Two condo contracts were signed last week with a total asking dollar volume of $10.4 million. They spent an average of 75 days on the market and had an average contract price of $5.2 million, or about $1,542 per square foot.

The priciest home to go under contract was a 8,290-square-foot waterfront property at 500 East Alexander Palm Road with asking about $3,000 per square foot. The 2022-built home has five bedrooms, six bathrooms and two half-baths. It also includes a four-car garage with room for a golf cart, a pool and 100 feet of Intracoastal water frontage with a private dock and Jet Ski lift, according to the listing.

David Roberts of Royal Palm Properties is the listing agent. Property records list the owners as Amy Kaplan, Jeffrey Kaplan and Arty Langhaus as a trustee. The 500 Alexander Palm Land Trust, managed by Langhaus, acquired the property for $25.8 million in 2022.

The most expensive condo to enter into contract was a 4,000-square-foot unit at the Alina Residences at 220 Southeast Mizner Boulevard in Boca Raton. It had an asking price of $6.8 million, or about $1,710 per square foot. Unit 907 has three bedrooms, three bathrooms and one half-bath. The penthouse also includes a private elevator entry and a chef’s kitchen.

Robin Perotti-Torres and Patrick Elber of Douglas Elliman listed the property. Property records list the current owner as El Ad Mizner on the Green II LLC, an entity linked to real estate development firm Elad Group. El-Ad National Properties, a South Florida-based subsidiary of Elad Group, developed Alina Residences. The penthouse under contract is one of the last remaining developer residences available, according to the listing.