Mansion on the Florida Panhandle sold for $25 million

Mansion on the Florida Panhandle sold for $25 million

In June 2022, an opulent mansion on the huge 11-acre land plot on the Florida Panhandle was sold for $25 million – a record-setting high for a single-family home in this region.

The buyer, Miramar Holding LLC, is expected to divide the purchase into several luxurious units, each with an access to the beach. There is precious little property left on the coast from Fort Walton Beach to Panama City with a “Deeded Beach Access”, so this decision will make the Holding’s investment incredibly lucrative.

Slightly more than a month ago, another splendid mansion for $26.5 million was listed nearby, in Seagrove Beach – a community famous for its dazzling white beaches and blue-green sea waters. According to Wall Street Journal, this is the most expensive listing on the Emerald Coast – a 160-kilometer strip of magnificent beaches on the Gulf of Mexico.

Prices for upscale real estate that surged during the pandemic have slightly decreased over the past few months. Sales in the first quarter of the current year dropped by 18%. Experts are still positive in their forecasts for the Florida property market until the end of 2022, so this situation creates favorable conditions for investors who wish to invest their money while the market is slightly down to make a profit by leasing their property or reselling it later.

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