A look inside the Boca Raton mansions commanding Miami Beach prices

Super luxury real estate in Boca Raton, Florida, is on the rise, breaking annual sales records for the fifth year in a row. And the prices per square foot of the town’s most upscale homes are now on par with those in Miami Beach.

“People tend to think of Miami when it comes to luxury real estate in South Florida,” said real estate agent Douglas Elliman Senada Adzem, “But Boca Raton is, without a doubt, one of those. The region’s leading luxury residential market.

The town’s all-time high sales, located about 45 miles north of Miami and 28 miles south of Palm Beach, traded last year for $24.5 million, at a price per square foot. is more than $2,800, according to public records. This is more than four times the average price of $670 per square foot for a luxury home, which accounts for the top 10% of sales, in Boca.

The record sale also topped the median price per square foot achieved in Miami Beach, of $2,766, according to the most recent Elliman Report for Q1.

“The trophy assets have been gaining momentum in the South Florida market over the past three years — for tax reasons, for safety reasons, and because of the pandemic,” Adzem told CNBC.

This year has seen three more large homes hit the Boca market, each priced at last year’s record-breaking and pushing the town’s premium even higher.

Here’s a closer look at the three highest priced homes in Boca Raton:

The riverfront home at 169 West Key Palm Road was listed this week for $26.9 million. It’s behind the private gates of Boca’s posh Royal Palm Yacht & Country Club community, and the asking price is just $3,000 a square foot.

The nearly 9,000 square foot apartment is for sale fully furnished. Dustin Nero at Douglas Elliman, who co-lists the home with Adzem, said luxury buyers moving from places like California and New York are trying to pay a premium for a turnkey mansion.

“It overlooks the Royal Palm marina. You don’t look at a house – it’s a very upscale view,” said Nero, who believes the house’s unique view will help it break. the town’s sales record.

This six-bedroom home sits on a 104-foot shoreline with a deep-water pier on the Fishtail Palm Waterway and includes five full bathrooms and two half baths.

Nero, who represents clients in both Miami and Boca, believes a trophy house in Boca is still a bargain relative to Miami’s most upscale neighborhoods.

“This Miami home costs $4,000 or $4,500 a square foot,” he said.

Another hot spot for Boca: Buyers can land their private jet here. Nero said that the private airport in Boca recently added its own customs office, creating maximum convenience for locals when traveling internationally by private jet.

This nearly 10,000 square foot home on the Intracoastal Waterway in Boca’s Real Estate was listed this month for $28.5 million. That puts the price per square foot just under $2,900.

“It’s like a piece of residential art,” said Adzem, who co-lists the property with Nero.

The modern home, also on sale fully furnished, opens over two floors with six bedrooms, eight bathrooms and a half-bathroom. The master bedroom is built on the deck, so when you lie on the bed, the room appears to float on water.

This wonderful room of the house has a double-height wall of windows that provides panoramic views and floods the room with sunlight.

The glass panels on the ground slide away blurring the line between indoor and outdoor spaces.

The room also features a 12-foot double-sided fireplace covered in gray and black porcelain.

Adzem told CNBC that the home also includes a super-premium, hospital-grade air filtration system that is attached to a central air system.

“It’s specifically designed for Covid-free home environments, with separate HVAC zones for each room,” she says.

The highest priced home for sale in town is a nearly 11,500 square foot, $35 million mansion built by developer SRD Building Corp.

“We have consistently set new highs,” said SRD President Scott Dingle.

Newly built modern residence, also located on West Key Palm Road at Royal Palm Yacht & Country Club community, located on Butterfly Palm Waterway. It includes a private pier and more than 16 meters of waterfront.

This home’s five-car garage is like a supercar showroom visible through the floor-to-ceiling glass wall from the desk in the home office.

Roberts, who sold $545 million worth of homes in the community just last year, says the speculative builder’s record-breaking strategy is simple.

“They buy high-end [lots]and they put more emphasis on it,” he said.

The home’s asking price of $3,050 per square meter is a high for Boca Raton, who has yet to see a sale breach $3,000 per square meter. But Dingle, who said he’s built 160 homes in the community over the past 28 years, believes it’s possible.

The speculative builder told CNBC he has another home in the community under contract for $26.5 million, slated to close later this year for a record $3,200 per foot. square.

“This year you will see some new records being set,” he said.

Dingle says 95% of the homes he builds are in this one community, and after nearly three decades, he continues to bet on Boca breaking records.

“With the country club, the marina, the championship golf course, the direct access to the beach, it’s something special,” says Roberts. “We have all our cards and chips.”