The owners of this Florida mansion are asking for $24 million for their almost 11,500 square-foot residence inside one of the most expensive gated communities in Delray Beach, Florida.
The price tag puts the home, known as Villa Ananda, at a price per square foot of almost $2,100, which is well beyond record-breaking territory for a non-oceanfront home in the town.
Aerial view of Villa Ananda and the man-made lake that wraps around the estate rear garden.
Daniel Petroni Photography
“As long as affluent clientele regard Florida as a haven for lifestyle and tax benefits, the ultra luxury real estate market will flourish,” listing broker Senada Adzem told CNBC.
Over the past five years, the Delray Beach market has more than flourished — it has skyrocketed. Since 2018, the average price per square foot of a luxury home — representing the top 10% of sales — in Delray Beach has more than doubled from $416 to almost $840, according to the Elliman Report.
The 102% rise in Delray Beach is even more impressive when you consider it outperformed both the Miami coastal mainland, which saw an 86% increase in luxury price per square foot, and the Manhattan, New York, market where the average price per square foot of a luxury home declined 2%.
Villa Ananda’s living area is flanked by a sleek gray and white kitchen on one side and a wall of wine on the other.
Daniel Petroni Photography
The average luxury home sale in Delray Beach has also seen a dramatic rise, increasing 90% from $2 million in 2018 to $3.8 million in the last quarter of 2023.
“People tend to think of Miami and Palm Beach when the subject turns to high-end South Florida real estate,” Adzem told CNBC. “But Delray Beach is, without question, one of the region’s premier luxury residential markets.”
Many of the town’s high-net-worth residents have been drawn to an exclusive enclave called Stone Creek Ranch. The gated community is home to billionaire hedge fund manager Steve Cohen; National Football League star Khalil Mack; Gerry Smith, CEO of ODP, the parent company of Office Depot; and singer-songwriter Romeo Santos, to name a few.
Hewlett Packard Enterprise CEO Antonio Neri purchased a home here back in 2019 for $7.5 million. He sold it in 2022 for $14 million, an almost 87% increase in under three years. Both deals were brokered by Adzem.
16141 Quiet Vista in Stone Creek Ranch was purchased by HP Enterprise CEO Antonio Neri for $7.5M who sold it three years later for a hefty profit.
Daniel Petroni
“I purchased the home because I loved it and the neighborhood. It also turned out to be an extraordinary investment,” Neri told CNBC.
Just last year, the 37-residence community saw its priciest sale to date when a 17,800 square-foot mansion at 9200 Rockybrook traded for $26 million, or about $1,460 per square foot, in a deal that was also brokered by Adzem.
Villa Ananda’s entrance is flanked by mature Italian Cypress trees.
Daniel Petroni Photography
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