DESTIN, Fla., Sept. 9, 2021 /PRNewswire-PRWeb/ -- Engel & Völkers Florida today announced the record-breaking sale of 134 Open Gulf Street. Blake and Paul Shorey, real estate advisors with Engel & Völkers Destin represented the listing. After only 14 days on the market, the father-son team received a full-price cash offer of $3,795,000. The transaction marked the highest price per square-foot of a non-waterfront property at $705 per square foot.
"The nation has undoubtedly seen prices increase over the last several months," said Blake Shorey. "It's our mission in our local market to help push the limit of property value. By setting a new record in our local market this summer, we have certainly helped others realize their property's potential — a positive development for the community. Additionally, we have seen other properties burst in value since our record, resulting in a neighboring property achieving and setting a new price per square foot record. Knowing our property helped justify the value of another is a win for us."
The notable transaction represented the highest price per square foot for a non-waterfront property in both Okaloosa and Walton Counties for nearly 10 weeks, until it was surpassed by the sale of 221 Norwood Dr. That transaction closed for $3 million, thus the 4,073 square foot home now holds the new record at $736 per square foot; a $31 increase from the Shoreys sale. According to Zillow, these homes are valued 636-percent higher than the typical home in the same zip code. Additionally, home values in that zip code have increased nearly 15-percent over the past twelve months and projections indicate prices will continue to increase an additional 10-percent within the next year.
"The property is something exceptional, so listing it was such a joy," said Blake Shorey. "The location is on a low-density road on the south side of Scenic Highway 98, only steps away from beach access. Meeting fellow local realtors to connect with their buyers as we walked the property during construction discussing the future selections and furnishings was an absolute blast. I get excited thinking about it and somewhat sad it's over."
The 5,379 square-foot estate features nine bedrooms, twelve bathrooms and has been outfitted as an all-inclusive resort with amenities such as tropical landscaping surrounding a private resort-style pool with swim-up bar, waterfall wall and a covered poolside lanai placed next to an outdoor kitchen. Inside the home, the first-floor has a comfortable living space with sliding glass doors that lead to the outdoor oasis for effortless indoor or outdoor entertainment. The second-floor boasts a chef kitchen, a custom dining room table that seats sixteen people and floor-to-ceiling custom cabinetry. The third-floor was crafted with comfort in mind so the eight bedrooms are all paired with private bathrooms. The fourth-floor rooftop bar, accessible by elevator, features both covered and open sky space with a built-in grill and television.
"What made this property rise to the top is its attention to detail," said Leigh Ann Fincher, License Partner of Engel & Völkers Destin. "The Shoreys studied the vacation market to maximize the guest experience by providing highly desired amenities. It functions as a vacation home for large groups, with the features of a fine resort. This stunning home is located on a low traffic street with easy access to the Gulf of Mexico's pristine beaches."
Miramar Beach is located on the Gulf of Mexico, nine miles east of the city of Destin. Mimicking the feel of a classic coastal enclave, Miramar Beach offers feelings of nostalgia while providing amenities and activities for the whole family to enjoy, from antiquing to beach volleyball and everything in between. From scenic highways to beachfront condos, homes, and resorts that offer panoramic views of the Gulf, this beachside neighborhood is not to be underestimated.
"The luxury real estate market in Florida continues to have historically high demand with previous trends of seasonality no longer relevant," said Peter Giese, Chief Growth Officer at Engel & Völkers Florida. "Our Engel & Völkers shops in the panhandle and throughout the state are fully equipped to service the increase in demand from this niche clientele group."
Engel & Völkers Destin is led by Fincher, who is also the principal of Engel & Völkers Eden in Utah. The Shoreys, which include father, Paul and son, Blake joined the brokerage in April 2019. The pair has over a decade of experience in the real estate industry, representing notable clientele such as the co-founder of Vans Shoes, Paul Van Doren.
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Press contact:
Linzee Werkmeister, Junior Vice President, Marketing & Franchise Support
Email: Linzee.Werkmeister(at)evrealestate.com
Tel: (239) 348-9000
About Engel & Völkers:
Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process for today's savvy homeowner. Engel & Völkers currently operates approximately 240 shop locations with 5,000 real estate advisors in the Americas, contributing to the brand's global network of over 14,000 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate and yachting. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings and market data. Each brokerage is independently owned and operated. For more information, visit http://www.evrealestate.com.
About Engel & Völkers Florida:
Engel & Völkers Florida is the Master License Partner of the global luxury real estate brand Engel & Völkers in the state of Florida. Recognized for uniquely recruiting, training and equipping some of the top professionals in the real estate industry, Engel & Völkers Florida's exclusive franchise model positions its license partners at the top of the premium market to gain market share and support their bottom line. The company represents franchise locations in: 30A Beaches, Amelia Island, Belleair, Boca Raton, Bonita Springs-Estero, Cape Coral, Clermont, Delray Beach, Destin, Fort Lauderdale, Fort Myers Downtown, Gainesville, Hollywood Beach, Islamorada, Jacksonville, Jacksonville Beach, Jupiter, Madeira Beach, Marco Island, Melbourne Beachside, Melbourne Central, Melbourne Downtown, Miami Coconut Grove, Neptune Beach, Olde Naples, Orlando, Orlando Downtown, Orlando-Winter Park, Palm Beach, Palm Coast, Ponte Vedra Beach, Sarasota, South Tampa, St. Augustine, St. Pete, St. Pete Beach, Stuart, Venice Downtown, Wellington, and Windermere.
Engel & Völkers Florida is continuing to strategically strengthen and expand its presence in premium real estate markets across the state of Florida. If you would like to know more about the Engel & Völkers brand or how to join its global network—which is known for demonstrating competence, exclusivity and passion, feel free to call our corporate office, located at 633 Tamiami Trl N, Suite 201, Naples, FL 34102 USA. Tel: +1 239-348-9000.
For more information about Engel & Völkers Florida, please visit http://www.florida.evrealestate.com
Media Contact
Linzee Werkmeister, Engel & Völkers Florida, 239.348.9000, [email protected]
SOURCE Engel & Völkers Florida
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