Tour $24 million mansion in Delray Beach, Florida

The owners of this Florida mansion are asking for $24 million for their almost 11,500 square-foot residence inside one of the most expensive gated communities in Delray Beach, Florida.

The price tag puts the home, known as Villa Ananda, at a price per square foot of almost $2,100, which is well beyond record-breaking territory for a non-oceanfront home in the town.

“As long as affluent clientele regard Florida as a haven for lifestyle and tax benefits, the ultra luxury real estate market will flourish,” listing broker Senada Adzem told CNBC.

Over the past five years, the Delray Beach market has more than flourished — it has skyrocketed. Since 2018, the average price per square foot of a luxury home — representing the top 10% of sales — in Delray Beach has more than doubled from $416 to almost $840, according to the Elliman Report.

The 102% rise in Delray Beach is even more impressive when you consider it outperformed both the Miami coastal mainland, which saw an 86% increase in luxury price per square foot, and the Manhattan, New York, market where the average price per square foot of a luxury home declined 2%.

The average luxury home sale in Delray Beach has also seen a dramatic rise, increasing 90% from $2 million in 2018 to $3.8 million in the last quarter of 2023.

“People tend to think of Miami and Palm Beach when the subject turns to high-end South Florida real estate,” Adzem told CNBC. “But Delray Beach is, without question, one of the region’s premier luxury residential markets.”

Many of the town’s high-net-worth residents have been drawn to an exclusive enclave called Stone Creek Ranch. The gated community is home to billionaire hedge fund manager Steve Cohen; National Football League star Khalil…