Luxury contracts in Palm Beach County surged in the days following Zohran Mamdani’s mayoral win in New York City, with a Stone Creek Ranch mansion asking $47.5 million and a waterfront Palm Beach house asking $37.5 million leading deals.
Buyers signed 29 contracts between Nov. 10 and Nov. 16 for luxury properties in Palm Beach County, according to a report from Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $235 million in asking dollar volume and averaged 105 days on the market.
The previous week, buyers signed 10 contracts totaling $67.7 million in asking dollar volume.
The report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 63 new listings, and a total of 1,181 active listings on the market.
Of the properties that went pending last week, 23 were single-family homes and six were condos. The average asking price for the condos is $3.8 million, or $1,260 per square foot. They spent an average of 136 days on the market.
The average asking price for the single-family homes is $9.2 million, and they spent an average of 74 days on the market.
The most expensive home to find a buyer last week is the 17,100-square-foot megamansion at 16101 Quiet Vista Circle, asking $47.5 million. It is in the gated Stone Creek Ranch community, where Mark Wahlberg recently bought a mansion for $32.6 million. Records show the seller is car dealer Dan Dagesse, the chairman of Norwood, Massachusetts-based DCD Automotive Holdings, which is the parent company of Nucar, a car dealership network with more than 30 locations across New England, the Mid-Atlantic region and Pennsylvania.
Dagesse bought the 2.5-acre property for $2 million in 2018, records show. He completed the compound in 2023 with a team that included AK Build & Design, Brenner Architectural Group and Michael Gray Interiors. It includes a main house with seven bedrooms, nine bathrooms, two half-bathrooms, spa facilities, a gym, a putting green, a tennis court, a club room with storage and a two-lane bowling alley and a two-level pool, the listing shows.
Dagesse listed the home for $47.5 million in May, Zillow shows. Colleen Nouhan with Premier Estate Properties has the listing.
The next most expensive listing to go under contract last week was the 6,800-square-foot waterfront home at 631 Island Drive in Palm Beach, asking $37.5 million. Records show the sellers are Richard and Linda Schaps, who bought the home for $7.9 million in 2012. Richard Schaps is the founder of Van Wagner Group, one of the largest billboard and aerial advertising firms in the country. In 2014, he sold the billboard component of the business to CBS Outdoor for $690 million. The firm now focuses on sports and entertainment advertising, primarily at major sporting events like the Olympics, Super Bowl and college football playoffs.
The Schaps’ home was built on half an acre in 1961, according to property records. The home has seven bedrooms, seven bathrooms, three half-bathrooms, 130 feet of direct water frontage and a dock, records and the listing show.
It hit the market for $40 million in February, Zillow shows. Margit Brandt with Premier Estate Properties has the listing.
