Engel & Völkers Florida today announced the record-breaking sale of 1150 Bulevar De Palmas. Joani Towe, an advisor with Engel & Völkers Islamorada represented the buyer in their $11,995,000 purchase, which was the highest price seen for a home in Marathon, Florida.
“It was an absolute pleasure working to bring the buyer and seller together on this enviable private estate in Marathon,” said Towe. “While I am proud of achieving this ‘personal best,’ I am overjoyed to have had the opportunity to demonstrate thoroughness, collaboration, honest representation, and tenacity throughout the process. While this particular sale only marks my second transaction since joining Engel & Völkers Islamorada, I appreciate their focus on exclusivity, competence, and passion, and I can truly see how it makes a difference to my clients and colleagues.”
1150 Bulevar De Palmas was originally listed for sale by Robert Cardenas and Matthew Russell Carlson of Ocean Sotheby’s International Realty at $13,500,000. Towe’s client, an oil and gas magnate, purchased the mansion for $11,995,000 in cash. Though it was listed for sale on four separate occasions, this is the first time it has traded hands since being built in 2004. The notable transaction represents the most expensive single family home sale in Marathon, as well as the fourth highest in all of the Florida Keys region. The typical value of homes in Marathon is $536,448, and home values have gone up nearly three percent over the past year.
“From a broker’s perspective, I couldn’t be more proud of an advisor who has dedicated themself to mastering their profession and ends up getting a win like this,” said John Gallant, License Partner of Engel & Völkers Islamorada. “This type of success is what I work towards daily, for all of my real estate advisors. It’s important to note that the level of service and discretion this client experienced is no different than what we offer every buyer or seller who works with an Engel & Völkers. We believe luxury service and bespoke experiences are not determined by a price point; it’s done with passion for all.”
Towe came to Engel & Völkers Islamorada in September 2020 from LoKation Real Estate, bringing over 30 years of experience to serve clients throughout the Florida Keys.
“John and his team experienced immediate success in procuring premium listings, such as 1150 Bulevar De Palmas, when he joined forces with Engel & Völkers and converted his former independent brokerage, Blue 9 Realty,” said Peter Giese, Chief Growth Officer at Engel & Völkers Florida. “This perfectly demonstrates the Engel & Völkers value proposition. We look forward to expanding our brand to other locations throughout the Florida Keys, to bring our ‘list locally, sell globally’ philosophy to better service clients in this lucrative market.”
Appropriately called “Fish Camp” by its previous owner, who is an avid boater and fisherman, this property is centrally located in the fishing capital of the world, the Florida Keys. Strategically situated on the lagoon side, the home’s location was specifically chosen for its protected harbor right behind the house, a rare find. The 11,674-square-foot home has eight bedrooms and thirteen bathrooms. The property includes resort-like grounds with an in-ground pool and tennis court, as well as a large guest house. The 190-foot-long deep water dock is large enough to simultaneously park an 80-foot yacht and a 60-foot yacht on the same seawall. Views of the open ocean from the second floor serve as a reminder that the home is only minutes from the Atlantic Ocean.
“The Florida Keys real estate market seems impermeable, no matter what is happening elsewhere in the country or the world for that matter,” said Timo Khammash, Managing Partner of Engel & Völkers Florida. Record highs were seen here, even after the Keys were virtually cut off from the world by the COVID-19 Traffic Checkpoint for months during the height of the global pandemic. Property values continuously appreciate, and homes continue to trade hands.”