JUPITER, Fla., June 16, 2021 /PRNewswire-PRWeb/ -- Engel & Völkers Florida today announced the record-breaking sale of 511 S Beach Rd, Hobe Sound, FL 33455. The Meierling Group, a husband and wife team consisting of Ken and Kandyce Meierling with Engel & Völkers Jupiter represented the seller in their $26,000,000 sale. The notable transaction set a new local record for price per linear foot on the ocean.
"Our relationship with the seller began five years ago," said Ken Meierling. "Following our record-breaking sale of another property on Jupiter Island for $38 million, we were invited to pitch for the listing of an ocean to intracoastal estate. We went through a multi-month selection process and were one of three finalists. The seller decided to split the property into three parcels and give each finalist one listing. Over the years, we prevailed and ended up the sole broker for the seller. We successfully sold the two Intracoastal properties earlier this year for $13 million, and now closed on the remaining property for $26 million."
The property was listed for sale by the Meierling's, on behalf of a European client, at the beginning of 2021 for $28,000,000. The recent $26 million sale set a new local record for price per linear foot on the ocean.
"While the property is not a vacant piece of land, the buyer will likely tear down the existing structures and rebuild," said Kandyce Meierling. "Taking this into consideration, it would be fair to say the property was sold at land value; $100,000 per linear foot on the ocean, which is a new local record."
The compound totals 5.32 acres with 262 feet of private, pristine beach. Behind an ornate, two-story iron gate and veil of towering palm trees, lie five renaissance-style buildings which include a main villa, tower apartments, a guest house, a spa and staff quarters. A separate service entrance leads to the staff quarters of seven bedrooms with a six-car garage and motor court.
"We recognize that select properties and clientele require a specialized and nuanced level of expertise," said Peter Giese, Chief Growth Officer at Engel & Völkers Florida. "The Florida real estate market has been in overdrive the past nine months, as a record number of wealthy individuals from across the globe make lifestyle decisions about where they want to live. With a culture of exclusivity behind us, our advisors are able to meet those needs in all the markets we serve throughout Florida."
The average value of homes in Jupiter Island is $5,737,201 and prices have risen nearly nine-percent over the past year. 511 S Beach Rd was among the top three most expensive properties available for purchase on Jupiter Island until it's recent sale.
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, 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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