While things are heating up in the Hamptons as the unofficial start to summer gets underway, down in Palm Beach real estate the big deals continue on.
Records show that Gary Yelvington and his sister Darlene Yelvington, heirs to an aviation fortune, sold the family’s waterfront home in the Estate Section for $39 million on April 30, 2024.
Margit Brandt of Premier Estate Properties exclusively represented the buyer in the deal. Heidi Wicky of Sotheby’s International Realty represented the sellers, which owned the property at 10 Viza Vizcaya through a limited liability company.
The nearly 10,000-square-foot, Mediterranean-style estate with 117 feet of frontage on the Intracoastal Waterway and a 100-foot dock, was listed for sale in November of 2023 for $45 million and then dropped to $42 million.
The sellers’ parents Conrad and Margaret Yelvington died in 2019. They built the six-bedroom home in 2007. The home features arched doorways, high ceilings with exposed beams, a butler’s pantry, a wood-paneled library and a guest suite above the three-car garage. There is also a waterside pool and spa.
Conrad Yelvington was the founder of Conrad Yelvington Distributors, one of the largest distributors of aggregate building materials, which was acquired by an Ireland-based construction firm for what Reuters reported was $350 million. He also founded Yelvington Jet Aviation, a private jet terminal at Daytona Beach International Airport.
The buyer has not been identified.
Real Estate Insider:
Over in Boca Raton, the market is also fairing well. We asked Aaron Buchbinder of Compass what types of listings are doing the best as we head into the summer season down south.
BTH: What type of lifestyle are buyers looking for in Boca?
AB: In Boca Raton, lifestyle is everything and luxurious resort-style properties are in high demand. A significant portion of buyers are seeking amenities and exclusivity that you can only find at a country club – like access to golf courses, clubhouses, and recreational facilities — but those come with costly membership dues. As a result, master-planned gated communities are popping up to fulfill demand and offer the country club experience without the exorbitant fees. These communities provide well-maintained common areas, high-end amenities and a sense of privacy and exclusivity that the luxury buyers in Boca Raton are looking for.
BTH: What is the most important factor that families consider when selecting a location to purchase a home?
AB: Boca Raton is a mecca for families due to its safe suburban lifestyle and A-rated schools that attract people from all over to relocate here. For young families, school is the biggest priority when they are considering what neighborhood to purchase in. Private schools in the area have become extremely competitive, often with long waitlists, so some families are not able to secure a spot and need to consider other schools and communities. We also have an incredible public school system, so once buyers narrow down which school they want they will search for a home within that school district.
Just Listed
Meanwhile in Boca Raton, this just listed, move-in-ready property puts the Intracoastal Waterway in your backyard. The residence at 883 Glouchester Street, asking $6.159 million, offers the best of waterfront living, boasting a private dock and there is a boat available, for an additional cost. Mandy Bohlman and Dana Ocampo of Douglas Elliman Real Estate represent the listing.
The 6,000-square-foot house was “built with quality and craftsmanship in mind,” according to the listing. There are five spacious en suite bedrooms, a home gym, a three-car garage with epoxy floors and an elevator. The waterside pool and hot tub overlook the Intracoastal. Plus, there are no homeowners association fees.
A boat is available for sale for $520,000. The 2017 Pursuit S 408 is powered by a triple 350-horsepower “C” Series Yamahas with 950 hours. The multi-purpose vessel has been customized for fishing with heavy-duty rod holders, multiple 12-volt electric reel plugs, a rear table with a rocket launcher, multiple fish boxes with freezer and plenty of storage for rods and tackle.
The 0.194-acre property is situated just 10 minutes from downtown Boca, Delray and the beach.
This article appeared in the Memorial Day weekend issue of Behind The Hedges magazine inside Dan’s Papers. Click here to read the full digital edition. For more on Palm Beach real estate, click here.
