Boca Raton’s Royal Palm Yacht & Country Club stands out as the most prestigious neighborhood in the city’s luxury market. Covering 450 acres and home to fewer than 700 residences, this exclusive community features a private club with a Jack Nicklaus-designed golf course and a marina. The 24/7 armed security patrol adds to its appeal for affluent residents.
Waterfront spec mansions in Royal Palm have consistently set new price records. While Boca Raton boasts other upscale gated communities like the Sanctuary, none match the allure or the volume of high-value transactions seen in Royal Palm. This trend is driven by South Florida’s luxury buyers’ strong demand for spec mansions, which Royal Palm delivers in abundance.
Carmen D’Angelo, co-owner of Premier Estate Properties, notes that luxury buyers prefer ready-made homes over the lengthy homebuilding process. This demand has turned Royal Palm into a hotspot for investors, developers, and builders. The most active developers are brothers Steve and Scott Dingle of SRD Building, who specialize in constructing luxury homes in the community. Their partner and agent, David Roberts of Royal Palm Properties, has also thrived in this niche, topping The Real Deal’s 2023 Palm Beach County broker ranking with $349.8 million in closed deals.
Roberts, with nearly 40 years of experience in Royal Palm, points out that many of his clients move within the community, while others come from the Northeast, Illinois, and California, all sharing a common trait: substantial cash reserves. “I’ve never sold a house to a lottery winner,” Roberts remarked. “Our folks have done well.”
Here are Royal Palm’s top residential sales this year:
1. **$36M | 2499 East Maya Palm Drive**: Randy Parker, founder of Constant Contact, sold his longtime family home for a record $36 million. The Dingles plan a luxury spec project on this 1.7-acre site, currently featuring a 9,500-square-foot mansion, a guest house, two pools, and 440 feet of waterfront. Jill Hertzberg and Jon Mann represented the sellers, while Roberts brought the buyers.
2. **$28.5M | 360 East Alexander Palm Road**: A trust sold a newly completed 10,700-square-foot spec mansion built by the Dingles for $28.5 million. The property includes seven bedrooms, seven bathrooms, three half-bathrooms, a pool, and a dock. Joe Liguori brought the buyer, and Roberts had the listing.
3. **$28.5M | 444 East Alexander Palm Road**: Hotelier Mikhail Avrutin sold a 9,900-square-foot waterfront spec mansion for $28.5 million. The six-bedroom home features a pool and a dock. Adam Elmer and Marie Mangouta represented both sides of the deal.
4. **$26.5M | 480 East Alexander Palm Road**: Another Dingle-built mansion, this 8,900-square-foot property, sold for $26.5 million. It includes six bedrooms, seven bathrooms, a pool, a dock, and a spacious garage. Roberts listed the property, and Ina Bloom brought the buyer.
5. **$25.9M | 415 East Alexander Palm Road**: G. Robert Sheetz, founder of Sheetz convenience stores, sold his waterfront spec mansion for $25.9 million. The 10,700-square-foot home features six bedrooms, eight bathrooms, a pool, a dock, and a 900-bottle wine room.
