The fascination and appeal of South Florida was built on images of vast estates overlooking the ocean and lifestyles replete with yachts, beachfront activities, and amenities associated with 5-star resorts.
While this segment of the real estate market may not have been affected in recent years like other sectors, there was an impact. But based on recent activity, the attraction of South Florida as a residential destination for the affluent is back, according to NPSIR owners Mark Nestler and John Poletto.
“The world of the ultra wealthy has always, to some extent, been sheltered from the economic trends that affect most people,” says Poletto. “In recent months we’ve seen a rapid emergence of a healthy market with enthusiastic buyers both nationally and internationally.”
Paradise by the Sea
Perhaps South Florida’s most significant listing is 1960 South Ocean Boulevard; an ultra-luxury, oceanfront mansion in the affluent city of Manalapan in Palm Beach County. Known as “Paradisio del Mar”, this extremely rare ocean to intracoastal property exemplifies the affluent lifestyle that has become synonymous with homes along the Atlantic Ocean.
Listed at $32 million, this 45,000 square-foot residence is nestled on four acres, on one of the widest sections of the Intracoastal Waterway to the west and the ocean to the east. It features a Mediterranean ambiance reminiscent of an Italian villa. Multiple exterior balconies, outdoor dining areas, and vistas that showcase exquisite water views are among the highlights of this private estate. But visitors find that there is much more to Paradisio del Mar
Extraordinary and Captivating
“This is simply an extraordinary property and a home that captivates the visual senses,” says Nestler. “Each corridor, outdoor walkway, and staircase leads to other appealing features that set this home apart from other ultra-luxury mansions. Potential buyers have a sense of anticipation as they turn the next corner.”
Another attraction is the value in the price offering. Poletto estimates that this home would have been valued over $40 million prior to the real estate downturn that occurred in late 2006.
“It’s hard to say it’s a bargain, but those with an understanding of the ultra-luxury market realize this is a great value,” said Poletto.
Among the special features of this furnished and turn-key mansion is that it has the ability to house over 30 cars in three separate garage areas, or have guests stay at the oceanfront cottage in a natural tropical dune environment reminiscent of the turn of the century. A raised deck surrounding the pool has views of one of the widest parts of the Intracoastal Waterway in addition to a putting green, home theatre and multiple outdoor private sitting areas where one an enjoy ocean breezes to brilliant sunsets.
The tasteful décor and architectural features add to the appeal of Paradisio del Mar. Visitors approach the home through a privacy gate and follow a winding driveway to the elegant porte cochere. Upon entering the home, they view an elegant center staircase with wrought iron banisters and a grand rotunda that serve as the introduction to this world of luxury.
Luxury for Every Taste
“Keep in mind that potential buyers are accustomed to seeing these types of homes,” added Nestler. “But there is something distinctly different and appealing here. Everyone seems to have a different opinion as to its appeal. Some like the outdoor kitchen. Others the sheer privacy and security. The old-world wood-paneled library. The ability to host formal dinners and casual, outdoor events. The sprawling lawns.”
But the one common denominator is access to the Intracoastal and the ocean. Paradisio del Mar has a tunnel that goes under A1A and opens to scenic dunes and a meandering boardwalk that leads to a cozy, elevated sitting area with a fire pit and a dynamic view of the Atlantic Ocean. Continuing down this boardwalk, visitors come upon a quaint guest house, perched on a dune.
“They just aren’t making any more beachfronts,” mused Poletto. “In a home with so many features and amenities, the location on the ocean may be the major draw for people visiting from other parts of the United States and overseas.”