What’s Up In The Real Estate Market

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What Buyers Don’t Want
By: Jeff Perlman Editor in Chief
April 1 is affectionately known as “selling season” in the real estate world.
Here’s a look at trendy features that buyers aren’t looking for these days.
Popular home features come and go and some once-high-demand attributes have started to fade. In a new survey of 4,300-plus house hunters of all ages, the National Association of Home Builders identified the top 10 items they say buyers today don’t want in a new home:
1.Elevator (63 percent say they don’t want one)
2.Pet washing station (54 percent)
3.Wine cellar (53 percent)
4.Golf course (53 percent) We think Florida buyers may disagree.
5.Daycare center in the community (52 percent)
6.Cork flooring on the main level (45 percent)
7.Dual toilets in master bathroom (44 percent)
8.Two-story family room (43 percent)
9. Wet bar (42 percent)
10. Laminate countertop (40 percent)
Delray, Boca Luxury Market Heats Up
By: Jeff Perlman Editor in Chief
Chicago investor Richard A. Chaifetz is bullish on Delray Beach.
Chaifetz closed on an oceanfront Delray Beach estate for $34 million last month.
Palm Beach County records show Chaifetz, founder of the Chicago-based Chaifetz Group, bought the 31,786-square-foot mansion at 921 South Ocean Boulevard. The 1.7-acre property includes seven bedrooms, nine bathrooms and five half-baths. It was listed for sale at $39.95 million in January, according to Realtor.com.
921 South Ocean Boulevard LLC, managed by president and real estate attorney Cristofer A. Bennardo, was the seller. The Boca Raton-based firm paid $9.3 million for the property in 2010.
The estate was built in 2013 and includes a home theater, reflection ponds, a pool, spa, fountain, outdoor fireplace, balconies and more than 155 feet of oceanfront.
Pascal Liguori of Premier Estate Properties was the listing agent.
In other luxury home news, actor and comedian Kevin James put his Delray Beach estate on the market for $29 million recently.
James listed the waterfront 2.8-acre home at 502 North Ocean Boulevard in February.
He is currently filming a new comedy series for CBS on Long Island, where he was raised.
Not to be left out of the mix, a Boca mansion recently sold for a big number as well.
A mansion in the Sanctuary community of Boca Raton sold for $13.5 million, or $851 per square foot.
Donna Nero sold the 15,856-square-foot property at 700 Osprey Point Circle in Boca Raton with representation from her son, Douglas Elliman real estate agent Dustin Nero.
The home built in 2013, has a 26,000-square-foot waterfront lot. The main residence has seven bedrooms, 8.5 bathrooms, a 10-car garage and a lift to a second-story motorcycle garage big enough to store 20 bikes.
The main residence also features a 1,500-bottle, brick-lined wine cellar and a theater, plus a pool, sauna and steam room.
East Atlantic Avenue
By: Marisa Gottesman
Associate Editor
Delray’s Atlantic Crossing project is up for discussion again.
The 9-acre redevelopment project that will bring apartments, restaurants, offices and shops to East Atlantic Avenue is scheduled to go before the city on April 5.
Commissioners will review plans to add a road they requested that connects North- east Seventh Avenue to Northeast Sixth Avenue to help relieve congestion.
In addition to the road, the developers Edwards CDS has also proposed redesigning the valet area, hiring a person to coordinate traffic flow and shutting down the valet service if too many vehicles are in the queue.
Also up for discussion will be a proposed settlement agreement that would put an end to the federal litigation the developer filed against the city.