Boca Mansion Contract Could Break City Price Record
A waterfront spec mansion in Boca Raton's Royal Palm Yacht & Country Club attracted a buyer at $80 million, potentially setting a new city record. The sale was part of 25 luxury contracts totaling $242.3 million in Palm Beach County last week.
A luxury waterfront mansion in Boca Raton has attracted a buyer at $80 million, positioning itself to establish a new single-family home price record for the city. The property at 2500 East Maya Palm Drive sits within the exclusive Royal Palm Yacht & Country Club and represents the crown jewel among 25 high-end contracts signed across Palm Beach County during the week of April 27 through May 3.
The developers behind this record-breaking project are Steve and Scott Dingle, brothers who lead SRD Building, a luxury spec home construction firm. The siblings acquired the 1.7-acre teardown estate for $36 million in 2024, subsequently dividing it into two separate parcels. The mansion occupies 0.8 acres and features 292 feet of prime waterfront access.
Spanning 18,300 square feet, the completed home showcases eight bedrooms, 10 full bathrooms, and five powder rooms. Additional amenities include a dedicated wellness wing, fitness center, club room, golf simulator, and entertainment spaces. SRD Building finished construction this year and brought the property to market in April with David Roberts of Royal Palm Properties handling the listing.
The broader luxury market demonstrated robust activity during this period, with total signed contracts reaching $242.3 million in asking dollar volume across Palm Beach County. Properties averaged 99 days on the market before finding buyers, according to Douglas Elliman's Eklund-Gomes team report. This weekly performance exceeded the previous period, which saw 20 contracts totaling $137.2 million.
Among the 25 properties that went under contract, single-family homes dominated with 20 transactions averaging $10.4 million, or $1,536 per square foot. These homes typically spent 114 days on the market. The remaining five condominium sales averaged $6.9 million, translating to $2,044 per square foot, with a shorter 83-day market time.
The second-highest contract of the week involved a 6,000-square-foot residence at 242 Wells Road in Palm Beach, asking $23.5 million. Canadian businessman Pierre Beland owns this property, having purchased the half-acre site for $3.6 million in 2004 and completing the four-bedroom, six-bathroom house two years later. Originally listed at $26.5 million in October, Beland reduced the price in March. Paula Wittmann of William Raveis Real Estate represents this listing.
The luxury market tracking covers properties priced at $3 million and above within the Beaches MLS system. During this active week, 34 new listings entered the market, bringing the total active inventory to 1,199 properties available for purchase.
