A Ferrari-inspired mansion known as Casa Maranello in Delray Beach, Florida, shattered a local record last week when it traded for $50.5 million.
Not only was the megadeal the biggest the area has ever seen, but it was also one of the most unusual: The sale included a mansion swap, bespoke furniture, elaborate chandeliers, art, alcohol and even a miniature Ferrari 250 Testa Rossa sports car.
According to public records, the buyer was a trust linked to William Cafaro, the co-president of a retail property development company in Niles, Ohio. The trust purchased the seven-bedroom, nine-bathroom residence — and paid millions more for all of its furnishings — with a combination of cash and real estate valued at $55 million.
The trust paid the home’s architect and developer, Aldo Stark of Prestige Design Homes, $24.5 million along with the deed to Cafaro’s almost-18,000 square foot mansion located at 9200 Rockybrook Way in Delray Beach, which, according to public record, was valued at $26 million.
“This was a highly complex transaction, involving two mega trophy real estate properties, cash and numerous moving parts with multiple stakeholders,” said listing agent Senada Adzem, who brokered both transactions, but would not go into detail about specifics.
The two mansions sit less than 1,000 feet apart in Delray Beach’s Stone Creek Ranch neighborhood, one of the town’s most luxurious gated communities.
The Rockybrook home that Stark received sits on 2.5 acres and has seven bedrooms and 10 bathrooms. The developer has already begun making major improvements to the home, and Adzem told CNBC that Stark plans on putting the estate up for sale soon.
“They are incorporating exotic materials, bespoke lighting fixtures and all-new custom furnishings,” she said.
The mansion at 9200 Rockybrook Way in Delray Beach, Florida, that was traded as part of a $50.5 million deal to buy Casa Maranello.
Daniel Petroni Photography
Casa Maranello’s sale price, amounting to more than $2,400 per square foot, breaks the town record of price per area held by the megahome next door called Villa Spectre, also built and designed by Stark.
“Aldo Stark is in a league of his own when it comes to visionary architecture, ultra-luxury design and development,” said Adzem.
The dramatic entry at the James Bond-themed Villa Spectre.
Legendary Productions
The property next door is about the same size and layout of Casa Maranello, but where the latter is Ferrari-inspired — even named for the town in Italy where the luxury automaker is based — the residence at 16161 Quiet Vista Circle is centered around all things James Bond.
Marketing material for Villa Spectre shows the car gallery filled with pricey Aston Martins and a Bond-inspired Rolls-Royce Spectre. Before the home was officially listed for sale, it was purchased last month in an off-market deal.
“The moment the clients stepped inside, they were left speechless,” said Adzem, who also brokered the Villa Spectre sale.
Public records show Villa…
Read More: Ferrari-inspired mansion breaks local record in Delray Beach, Florida
