By Boca Vibe
Never-Lived-In ‘Spec’ House Sells Privately for $15.75M in Boca Raton
A just-completed house developed on speculation has sold off market for a recorded $15.75 million on the far North End of Boca Raton, Florida. Read more at BocaVibe.com.
- Located at 220 Arabian Road, the property was a limited liability company co-managed by Mark Marcello, a private-capital specialist, and luxury homebuilder Marc Julien of Marc Julien Homes.
- The seller signed the deed to complete the sale, which is believed to be one of the most expensive residential transactions in Boca Raton history.
The property, which was never lived in, has been on the market for an undisclosed amount of time before being sold privately. The exact asking price was not disclosed, but sources close to the deal confirm that it was $15.75 million.
- Marcello and Julien’s company, Marc Julien Homes, has a reputation for building luxury homes in high-end communities throughout South Florida.
- The property is located in a highly sought-after neighborhood with easy access to beaches, shopping, and dining options.
The sale of the property marks a significant milestone in Boca Raton’s real estate market, with many experts predicting that it will have a ripple effect on prices and demand for luxury homes in the area.
- According to local real estate agents, the sale of this property is a testament to the enduring popularity of Boca Raton as a desirable place to live and invest.
- The city’s strong economy, excellent schools, and high quality of life make it an attractive destination for both residents and investors.
While the exact details of the sale are not publicly available, sources close to the deal confirm that Marcello and Julien’s company has a proven track record of success in the luxury homebuilding industry.
- The company has built numerous high-end properties throughout South Florida, including in Boca Raton, Palm Beach, and Miami-Dade County.
- Their expertise and reputation for quality construction have earned them a loyal client base among discerning buyers and investors.
In conclusion, the sale of this never-lived-in ‘spec’ house is a significant development in Boca Raton’s real estate market. With its luxurious features and prime location, it is no surprise that it has attracted a buyer willing to pay top dollar for the property.
Official city info: City of Boca Raton.
Source: Original Report