Thursday, January 5, 2023 / by Dave Magua
South Florida’s residential market may have slowed in 2022, but trophy mansions remained a hot commodity. From Larry Ellison to Ken Griffin, billionaires kept on buying in South Florida, setting records for single-family home and condo sales across Miami-Dade, Broward and Palm Beach counties.
The top 10 deals ranged from a princess’ $45 million sale of her waterfront Palm Beach home to the $173 million trade of a 16-acre compound in Manalapan, a wealthy enclave north of Delray Beach.
Properties in Palm Beach, where inventory remains tight and pricing high, dominated The Real Deal’s ranking, which is based on property records and the Multiple Listing Service. A select few agents also participated in most of the deals, including Lawrence Moens and Christian Angle.
These were the 10 priciest home sales recorded in South Florida this year:
Larry Ellison drops $173M on Manalapan estate
In June, Larry Ellison, the billionaire co-founder s ...
Wednesday, January 4, 2023 / by Dave Magua
One of the biggest South Florida residential sales of the year closed just under the wire.
In an off-market deal, an entity tied to private equity giant Apollo Global Management sold an oceanfront Palm Beach estate for $66 million — nearly twice what it traded for 18 months ago.
Sunshine Home 5 LLC, a Delaware entity, sold the mansion at 6 Via Los Incas to another Delaware corporation, TT 47th LLC, records show.
Mortgage documents and a construction contract link the selling entity to Frank Marra, managing director of finance at Apollo. Marra signed for a $33.6 million loan on the property from Bank of America in September, according to public records.
New York-based Apollo, which had $523 billion in assets under management as of Sept. 30, was one of many financial firms that expanded in South Florida last year, opening offices in Brickell and West Palm Beach.
The 0.6-acre Via Los Incas estate sold for $35.4 million in June of last year, pro ...