Jupiter Mansion Sells for $34M, Tops Weekly Deals

A spec-built mansion in Jupiter's exclusive Bear's Club community sold for $33.8 million, marking the highest-priced residential transaction in South Florida for the week ending July 17, 2026.

Developer Stuart Hankin sold the 10,900-square-foot property at 228 Bear's Club Drive to tech executive Derek Kreunen and Erin Kreunen. Hankin acquired the land in 2021 for $3.4 million and completed construction last year, achieving a substantial return on his investment. The six-bedroom, eight-bathroom home features two powder rooms, a private theater, and a swimming pool. Margit Brandt of Premier Estate Properties represented the seller, while Mark Griffin of The Bear's Club Sotheby's International Realty brought the buyers.

In the commercial sector, the Alamar Senior Living facility in Wellington emerged as the week's largest deal. The property at 8785 Lake Worth Road changed hands for $30.7 million, with Health Wave Partners, a Chicago-based entity, purchasing from an affiliate of Walton Street Capital, also headquartered in Chicago. The facility spans nearly 132,000 square feet across 136 units. Records show the asset previously sold in 2024 for $23.5 million, representing significant appreciation in just two years.

Boca Raton saw substantial residential activity with the sale of a sprawling estate at 200 West Coconut Palm Road for $22.1 million. The one-acre property features a 17,000-square-foot mansion with nine bedrooms, 12 full bathrooms, and five half baths. The seller was a trust connected to P.A. Novelly II, whose late father was billionaire oil and gas entrepreneur Paul "Tony" Novelly. Connor McNamara served as trustee for the purchasing entity. Built in 2007, the residence includes a movie theater, pool, six-car garage, and private dock.

Coconut Grove recorded a notable condominium sale at 2655 South Bayshore Drive, where a penthouse traded for $16.2 million. The transaction valued the unit at approximately $2,400 per square foot. Michael S. Gordon's company sold to a trust, with the five-bedroom residence offering five and a half bathrooms and roughly 2,500 square feet of terrace space. The property initially listed in February 2025 at just under $20 million. Compass agents Carole Smith and Cristina Formosa handled the listing, while Alejandro Vasquez of Million Realty represented the buyer.

On the commercial land front, CMC Group sold 5.1 acres comprising two vacant parcels between Southwest 106th Avenue and the Busway in Miami-Dade County for $11 million. Indianapolis-based Scannell Properties acquired the sites through an LLC.

The week's transactions reflect continued strength in South Florida's luxury residential market, particularly in established enclaves, while institutional investors maintain active interest in commercial assets including senior living facilities and development land.