Palm Beach County luxury deals maintained their post-Mamdani momentum last week, with deal and dollar volume showing explosive growth.
Buyers signed 30 contracts between Nov. 17 and Nov. 23 for luxury properties in Palm Beach County, according to a report by Douglas Elliman’s Eklund Gomes team. Homes that were pending last week totaled $271.1 million in dollar volume and averaged 120 days on the market.
Last week, buyers signed 29 contracts asking a total of $235 million, up from 10 contracts and .767.7 million.
The report lists single-family homes and condos signed contracts asking $3 million or more in MLS across the coast. It identified 58 new listings on the market, and a total of 1,198 active listings.
Of the pending properties last week, 17 were single-family homes and 13 were condos. The average asking price for condos is $5.5 million, or $12,138 per square foot. They spent an average of 117 days on the market.
The median asking price for single-family homes is $11.7 million, and they spent an average of 123 days on the market.
The most expensive pending listing last week is a 10,500-square-foot mansion at 1940 South Ocean Boulevard in Manalapan, which asked $84.9 million. Records show the sellers are Frank and Dolores Manilella, who bought the 1.9-acre oceanfront intracoastal property in 2018 for $7.5 million. Frank Manilella is the head of Solarsburg, Pennsylvania-based Valley Tools & Plastics, a natural gas distributor, according to BuzzFile.
The Menellis are frequent investors in Palm Beach County luxury real estate. In February, he paid a record $48 million for a mansion in Jupiter’s Beer Club. In 2023, they sold an oceanfront Manalapan estate for $48.4 million. In this latest Manalapan deal, the mansion, built in 2022, has six bedrooms, nine bathrooms, four half bathrooms, a gym, spa facilities, a theater, game room, craft room, two bowling alleys, a dock and a tunnel to the beach.
Zillow shows, they listed it at $84.9 million in May. Listed by Philip Lyle Smith and Carla Ferreira Smith with a luxury resort portfolio.
The next most expensive home to find a buyer is Unit 1704 in Bristol at 1100 South Flagler Drive in West Palm Beach, asking $17.8 million. Records show the sellers are former media executive Christine Hayakawa and David Wondrich, founders of investment firm Cypress Forest Holdings and the former Ochzef Capital Management Group, now known as Statue Capital Management. In January, a trust linked to the couple bought a lakefront Palm Beach home for $23.8 million.
Records show Wondrich and Hakawa bought their Bristol condo for $9.4 million in 2019, the year it was completed. According to property records, the 4,800-square-foot unit has four bedrooms, five bathrooms and one half-bathroom. Amenities at the tower include a pool, fitness center, spa facilities, salon, a lounge, a card room, a private dining room and a dog park, the listing shows.
The couple listed their unit in January for $18.7 million, Zillow said. Sirhant is listed by Gary Pohrer.
