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Jupiter sale on Mack Dairy Road breaks record

By: Christine Davis
Published: 1/6/2011Source: Palm 2 Jupiter

Although statistics for home prices and sales ended up a mixed bag at year’s end, the Number One sale in the Jupiter area was a record breaker.

 

A property with a decidedly unglamorous address -- Mack Dairy Road – in Ranch Estates in Ranch Colony, Hobe Sound, garnered the highest price ever for a landlocked  residential property in Martin County, an impressive $10 million, according to the  property’s listing agent Kathy Palmer of Waterfront Properties.

 

“In the mid 2000s, an oceanfront home in Sailfish Point sold for $10.4 million,” she said.

 

The Mack Dairy home was tremendously detailed, she added. “Everything was par excellence.”

 

Moreover, “Ranch Colony has come into vogue. It has 2,000 acres with only 257 home sites. There are five communities within the community, and it has golf courses, an equestrian facility and a private airstrip. It’s surrounded by nature preserves and it feels like it’s two hours out into the country but it’s only a 10-minute drive from everything.”

 

An Admiral’s Cove home at 203 Commodore Drive was the second top sale in the Jupiter area. “This home has everything,” said listing realtor Thomas Frankel of Admiral’s Cove Realty Company, who also sang the praises for Admiral’s Cove community. In Jupiter, Palm Beach County, he had three listings of the top sales. In addition to 203 Commodore

Drive, he listed a 12,897 square foot home built by Malasky homes in 2009, which sold for $5.85 million and 115 Quayside, a 10,415-square-foot home also built by Malasky Homes in 2009, which sold for $5.57 million.

 

“These homes were great values,” Frankel said. “They were fully furnished and in estate condition. And Admiral’s Cove has great amenities. It’s got 45 holes of golf, tennis courts, a beautiful fitness and spa area, formal and casual dining and a deep-water marina for large vessels. Admirals Cove has 11 miles of navigable waterways that allows homeowners to dock their boat behind their homes.”

 

The next three top selling homes in Jupiter, including both Jupiter Island’s Martin County and Palm Beach County homes, were Jupiter Island homes. Dianne West and Jim McCann of the Corcoran Group listed two of them.

 

“They were good buys for new waterfront homes on Jupiter Island,” West said.

 

Home prices and sales were up a bit in some categories, down in others, according to the National Association of Realtors, Florida Realtors and Zillow.com.

 

At year’s end, single-family home sales rose 6.7 percent to a seasonally adjusted annual rate of 4.15 million in November from 3.89 million in October, but are 27.3 percent below a surge to a 5.71 million cyclical peak in November 2009. The median existing single-family home price was $171,300 in November, which is 1.2 percent above a year ago.

 

In the South, existing-home sales rose 2.9 percent to an annual pace of 1.76 million in November but are 26.1 percent below the tax credit surge in November 2009. The median price in the South was $148,000, down 2.6 percent from a year ago.

 

Through November, statewide, Florida Realtors reported 11,900 sales as compared to 13,961, a decrease of 15 percent. Median sales price was $132,700, a 5 percent decrease over last year’s median sales price of $139,300.

 

Also, through November 2010, 695 sales as compared to 733 last year, a 5 percent decrease. The median sales price was $208,400, down 8 percent from last year’s median sales price at $227,500.

 

According to Zillow, the median price for Jupiter was up in October at $219,100, a .7 percent increase over last year. At that point, 141 homes have sold. That’s a 21.6 percent increase over the same time last year.

 

Following are some top sales in Jupiter:

1: 19000 SE Mack Dairy Road, an inland property in Ranch Colony was listed on October 20, 2008 for $15 million. More recently it was listed for $10 million, and sold for that price on September 10. The listing agent was Kathy Palmer with Waterfront Properties. The sellers’ agent was Joan Wenzel Messing with Fite Shavell and Associates. This inland home is the highest price paid for a Martin County home that’s not on the water.

 

A newly constructed custom estate on 20 acres, the 28,039 total-square foot estate has seven bedrooms, ten full baths and 2 half baths. Some amenities include a game room with a mirrored bar, a movie theater with a hydraulic screen and projector and three plasma TVs, a steam room, massage room, two elevators, a wine room with a capacity for 950 bottles, a library, separate guest house and landscaping and pool that won the 2009 Aurora Reward.

 

According to the warranty deed, the sellers were John F. and Sharon L. Chapple of Gig Harbor, Washington. The buyer was listed as Sylro General Partnership, an Ontario general partnership, with an address in Thornhill, Ontario.

 

2: The home at 203 Commodore Drive in Admiral’s Cove was originally listed December 4, 2009 for $13.5 million. It sold on October 15, 2010 for $8.8 million. Thomas Frankel of Admiral’s Cove Realty represented the seller. Michael Bloom of Boca Executive Realty represented the buyer.

 

The home, with 16,263 total square feet, was built in 2007 by Turtle Beach Construction. It has six bedrooms, 8 full baths and 2 half baths. “This home has everything,” Frankel said. “Amenities include Smart House technology, direct Intracoastal Waterway frontage, a gourmet kitchen, paneled library, exercise room, media room, pool and a summer kitchen.”

 

According to the warranty deed, the sellers were 203, LLC, a Florida limited liability company with a post office address at 203 Commodore Drive, Jupiter. The buyers were listed as 203 Commodore Drive LLC, a Florida limited liability company with an address at 16 Paddington Road, Scarsdale, NY. On the same date, between the two parties, is a balloon mortgage for $4.2 million with a maturity date of October 15, 2012.

 

3: The home at 202 Gomez, Jupiter Island, Hobe Sound was originally listed on July 22, 2008 for $15.750 million. More recently it was listed for $9.875 million. It sold for $7.75 million on November 12, 2010. The sellers’ agents were Dianne West and Jim McCann of the Corcoran Group and the buyers were represented by Kirk Pratt of the Sequoia Real Estate Corporation.

 

With 11,610 total square feet, the house has five bedrooms, seven bathrooms and one half bath. It was built in 2008 by Malasky Homes. It features 58 feet of direct water frontage on the Intracoastal Waterway, an infinity pool, spa, summer kitchen and covered loggias.

Inside the home, there are a first floor master suite, wine cellar and media room.

 

According to he warranty deed, the previous owner was listed as 202 Gomez Road, LLC, a Florida limited liability company with an address at 1300 N. Florida Mango Road, Suite 15, West Palm Beach, and Bruce A. Malasky, Idd Tr. The new owners are Krishna P and Martha J. Singh, with a post office address at 202 Gomez Road.

 

4: The home at 239 South Beach Road on Jupiter Island, Hobe Sound was originally listed for $16 million on July 23, 2008. More recently it was listed for $9.5 million and sold at $7.75 million on August 5, 2010.

 

The listing agents were Dianne West and Jim McCann of the Corcoran Group and the agent representing the buyers as Denice Sexton, a realtor with Lost Tree Realty.

 

With 9,640 total square feet, this home, built in 2008 by Malasky Homes, has five bedrooms, six bathrooms and two half baths. Features include 140 feet of ocean frontage, a pool, spa, climate controlled wine room, wet bar, summer kitchen, and staff quarters.

 

5: The home at 115 South Beach Road on Jupiter Island, Hobe Sound was originally listed for $10.8 million on November 16, 2009. More recently, it was listed for $7.995 million and sold for $6.785 million on December 14, 2010. The listing agent was Tom Turner of Waterfront Properties and the buyer’s agent was Alita Reed of Fenton Lang Bruner & Associates. This home, owned by Jorge and Aleyda Mas, was featured in the November 4 edition of Palm2Jupiter.

 

With 10,609 total square feet, the home has nine bedrooms and seven bathrooms. It features 200 feet of ocean frontage and includes a separate guest house. Other amenities include two master suites, a 500-bottle wine room and home theater.

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