Sylvester Stallone Reportedly Buys Palm Beach Compound for $35.3M

Sylvester Stallone has punched up a purchase in Palm Beach, FL. According to the Palm Beach Daily News, the Hollywood legend has scored a compound in the Sunshine State.

The star of “Rocky” reportedly paid $35,375,000 for the waterfront spread. The property, listed in “pending sale” status, came on the market in June for $37.85 million. Stallone seems to have snagged a minor discount.

With seven bedrooms, 10 full bathrooms, and two half-bathrooms, the mansion, built in 2014, offers 13,241 square feet of living space and 250 feet of sandy beach on the lake, the listing description states.

What it describes as a “sensational estate” offers three structures, which include a main house, guesthouse, guest pavilion, and an open cabana across from the pool.

The waterfront property also offers a boat dock and is designed with “casual elegance” in mind. Modern interiors include multiple living spaces, a formal dining room, a huge eat-in kitchen, and multiple French doors that open to the lawn outside.

A spacious master suite features a sitting area, private balcony,  enormous walk-in closet, and bathroom.

In addition, the layout includes a gym, wine storage, library, and a family room with a wet bar. Outside, the grounds feature a pool with a beachfront spa that practically touches the lake.

Stallone joins numerous other celebs in the area. Jon Bon Jovi, Rod Stewart, the author James Patterson, and the former wife of Tiger Woods, the model Elin Nordegren, own homes in the upscale enclave. President Donald Trump‘s Mar-a-Lago is also nearby.

The “Rambo” star has been busy on the real estate front. This spring, he placed his desert getaway in La Quinta, CA, on the market for $3.35 million.

Stallone bought the four-bedroom home, located inside the Madison Club, for $4.5 million in 2010. But it eventually became expendable. He wound up selling the golf retreat at a loss, for $3.15 million.

Stallone, 74, has been a screen star for decades. He’s known for the “Rocky” series, which more recently led to the spinoff “Creed” films.

Lawrence Moens with Lawrence A. Moens Associates holds the listing.

Source: realtor.com

Shaquille O’Neal Recruits a Buyer for a Luxury $1.85M Spread in SoCal

Rumor had it that the NBA superstar Shaquille O’Neal was dabbling in the art of home flipping, when he put his luxurious home in a gated equestrian community in Bell Canyon, CA, on the market for $2.5 million in late 2019.

The big man purchased the place in February 2018 for $1,815,000, and owned the home for only a little more than a year before he decided to sell.

However, if Shaq harbors dreams of an HGTV spinoff show, he’ll have to improve his return on investment. He recently let the home go for $1.85 million.

The five-bedroom, 4.5-bathroom, traditional-style home is on a fenced and gated acre lot, ideal for an owner who craves privacy.

Shaquille O'Neal's SoCal spread
Shaquille O’Neal’s SoCal spread

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Overhead view
Overhead view

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O’Neal perked up the 5,217-square-foot home with new carpeting, fresh paint, customized closets, and improved landscaping. The home was originally built in 1990, and its HVAC system, garage door, and some of the plumbing were also updated.

Living room
Living room

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There’s plenty of proof of the property’s provenance. O’Neal’s images, trophies, and mementos greet visitors the second they set foot in the grand black-and-white, two-story formal entry, with a large staircase and circular gallery.

Grand entry hall
Grand entry hall

realtor.com

The home has a number of highlights: a wide-open floor plan, beamed ceilings, and hillside views. The kitchen, however, is the true showstopper, according to the listing agent, Emil Hartoonian of The Agency.

“Buyers loved the kitchen and its brightness. They also loved the open living space, with no shortage of natural light and flow,” he says.

The kitchen has marble counters, a large center island, built-in stainless steel appliances, and designer cabinetry.

Kitchen
Kitchen

Other luxe features in the residence include a wine closet and wet bar in the great room, a media room with a convenient kitchenette, a screening room, and a spacious office with splendid views.

Home office
Home office

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Plush screening room
Plush screening room

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The luxury spills into the outdoor spaces as well. Out back, there’s a rock-rimmed heated pool and spa, a fire pit, multiple seating areas, and manicured lawns.

Pool and spa
Pool and spa

“We presented this property in the light it deserved, and helped buyers see the true value of a premier updated property behind guard-gates,” Hartoonian says.

He co-listed the property with Nicholas Siegfried, also of The Agency. Gary Keshishyan Pinnacle Properties represented the buyers.

But wait—there’s more. O’Neal’s sale in Southern California isn’t his only recent real estate success.

The famous “Shaq-apulco” in Windermere, FL, which has been on and off the market at varying prices over the past couple of years, appears to have found a buyer.

Shaquille O'Neal's Florida estate
Shaquille O’Neal’s Florida estate

realtor.com

O’Neal first put the massive estate on the market in 2018, for $28 million. It was most recently listed at $16.5 million, and a sale is now pending on the 4-acre waterfront property, with its 31,000-square-foot mansion.

O’Neal, 48, is reportedly spending more time in Atlanta with his NBA on TNT gig. The Hall of Famer won four NBA titles during his 19-year NBA career.

Source: realtor.com

MMA Champ Vitor Belfort Selling Knockout Florida Home for $2.89M>

Mixed Martial Arts fighter Vitor Belfort wants to sell his knockout mansion in Lighthouse Point, FL. The gated estate recently landed on the market for $2.89 million.

The prizefighter picked up the waterfront property, located in a suburb of Fort Lauderdale, for $2.16 million in 2019.

Built in 2003, the “recently reimagined” contemporary space measures 5,000 square feet and offers five bedrooms and 5.5 bathrooms. Located on the Flamingo Waterway, the property includes 86 feet of water frontage and a deepwater dock that can accommodate a yacht. From the backyard dock, it’s just a short ride out to the Atlantic Ocean.

Inside, the floor plan includes a formal foyer entry, a living room with a fireplace, and eye-popping wall decor.

A large dining area allows for a long dining table, which is set by glass doors that open to the pool.

The gourmet kitchen includes two sinks, granite counters, and a large island, as well as a breakfast bar with seating. The kitchen opens to a family room, which looks out on water views. An outdoor area for dining has a built-in grill.

On the second floor, the master bedroom and bathroom includes a sitting area and a balcony, a massive bath, and a walk-in closet stuffed with designer duds that the Home Edit team might like to get their hands on. All five bedrooms in the home are en suite.

Other luxe details include marble flooring, a wine bar, an elevator, and three balconies.

Outdoor living options abound, with a lounge space and an infinity-edge pool and spa. Boats and other water toys can be parked at the dock.

A three-bedroom garage completes the property.

Before he bought this property, the cage fighter owned a crib in Parkland, FL, which he sold in 2018 for $1.35 million.

Belfort, 43, is a native of Brazil and made his UFC debut in in 1997 at UFC 12. In 2004, he won the light heavyweight UFC championship at UFC 46. He last entered the ring in 2018, and holds a career record of 26-14-1.

Joe Anastasio with Campbell and Rosemurgy Real Estate holds the listing.

Source: realtor.com

Most Affordable Beach Towns – 2021 Edition

Most Affordable Beach Towns – 2021 Edition – SmartAsset

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Living by the beach can be expensive. Mortgage payments, property taxes and space can make your dream home unattainable. But if you know where to look, you can find a shore home without breaking the bank. The National Oceanic and Atmospheric Administration says that the U.S. has over 95,000 miles of shoreline, which includes all the coastal states and Alaska, as well as the island state of Hawaii. SmartAsset took a look at popular oceanfront communities in America to rank the most affordable beach towns in 2021.

We compared data for 218 beach towns and ranked them by four key real estate metrics: median home value, average number of rooms per house, median monthly property taxes paid and monthly housing costs. For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology section below.

This is SmartAsset’s sixth annual study on the most affordable beach towns in America. Check out the 2020 version here.

Key Findings

  • The best deals are still in the South. The top 10 cities in this study are located in three Southern states: four in Florida, four in Mississippi and two in Texas. While Florida may be an obvious choice for many people, the prevalence of Mississippi and Texas on our list shows how thinking outside of the box can help you find affordable deals to fulfill your beach home dream.
  • Low property taxes and cheap monthly costs: Homeowners in the top 10 beach communities on our list take advantage of low property taxes and affordable housing costs. Median annual property taxes for these cities are just $1,185, and median monthly housing costs are $746. By comparison, those figures are $8,677 and $2,956, respectively, for the study’s bottom 10 cities.

1. Biloxi, MS

Biloxi, Mississippi, ranks at the top of our list as the most affordable beach town in America. It overtook 2020’s winner Gulfport, a Magnolia State neighbor located approximately 13 miles west. The Gulf Coast city has a median home value of $161,700, which is the ninth-lowest value for this metric in the study. Biloxi ranks sixth overall for its low monthly housing costs, at $737. Median property taxes in Biloxi are $1,196, finishing just outside the top 10 at 13th, but still well within the top quartile of our study.

2. Gulfport, MS

With almost seven miles of white sandy beaches, Gulfport, Mississippi, ranks as a strong second. Located on the Gulf of Mexico, approximately 80 miles northeast of New Orleans, its median home value is $122,300 (fourth-lowest across all 218 cities in our study). Property taxes and monthly housing costs are also fairly low, ranking 11th overall for median tax payment, at $1,069, and ninth for monthly housing costs at $811.

3. Port Arthur, TX

Historically known as a prosperous oil refining city in the Gulf of Mexico, Port Arthur, Texas, ranks third. Located less than 90 miles east of Houston, this Gulf city has the lowest median home value in the study, at $65,800. Port Arthur also ranks first for its low monthly housing costs, at just $455. But overall, the city comes in at No. 3 because it falls in the bottom half of the study for average number of rooms per house, at just 5.7.

4. Pensacola, FL

Located on the Florida panhandle, Pensacola has a long-standing military history that helped earn its nickname as the “Cradle of Naval Aviation.” It ranks in the top quartile for three metrics – 18th for median property taxes at $1,291, 19th for median home value at $182,800 and 22nd for monthly housing costs at $940.

5. Ocean Springs, MS

Just east of Biloxi and Gulfport, Ocean Springs, Mississippi ranks in the top quartile for all four of the metrics we analyzed. It has the 15th-lowest median home value at $174,000 and ranks 24th out of 218 for median property taxes at $1,445. The average monthly housing cost in Ocean Springs is $1,021, ranking 33rd for this metric in our study. For its 6.8 average number of rooms per house, the beach town ranks 27th.

6. Bay St. Louis, MS

Known for its white sand beaches and charter fishing, Bay St. Louis, Mississippi, is located a little more than 60 miles east of New Orleans. This Gulf city places in the top 20 for three of our metrics, ranking eighth for monthly housing costs at $782, 12th for median property taxes paid at $1,140 and 14th for median home value at $172,600. Bay St. Louis homes tend to be slightly smaller, though, ranking in the bottom half of the study (tied at 118th place) with an average of 5.9 rooms per house.

7. Freeport, TX

Located almost 62 miles south from Houston, and about 45 miles southwest of Galveston, Freeport, Texas, has the second-lowest median home value across all 218 cities in the study, at $81,000. And the town also has the second-lowest median monthly housing costs, at $479. Freeport homes, however, are on the smaller side, ranking in the bottom half of this study with just 5.6 rooms on average.

8. Melbourne, FL

Melbourne, Florida, is the highest-ranked beach town on the Atlantic Ocean shore. Located approximately 35 miles south of the Kennedy Space Center, Melbourne residents average $853 on monthly housing costs, ranking 12th for this metric. This city also ranks just outside of the top 10, with the 13th-most affordable median home value, at $169,000. However, Melbourne houses tend to be on the smaller side, ranking in the bottom half of this study (tying with Bay St. Louis, Mississippi at 118th) with an average of 5.9 rooms.

9. Daytona Beach, FL

Widely recognized as a mecca for automobile racing, Daytona Beach, Florida, is located almost 57 miles northeast of Orlando. This Atlantic Coast city is a popular vacation destination, but with a median home value of just $153,000 – the seventh-lowest in our study – it is an attractive option for those who want to live on the beach full-time for relatively cheap. Daytona Beach residents pay only $723 in median monthly housing costs, the fifth-lowest across all 218 cities we considered.

10. Fort Pierce, FL

Rounding out the top 10 on our 2021 list of most affordable beach towns, Fort Pierce, Florida, is located approximately 54 miles south of Melbourne. Homeowners in this city pay only $908 in median property taxes, ranking seventh for this metric. Fort Pierce ranks third overall for its affordable median monthly housing costs, at $655. And the median value of a Fort Pierce home is $113,600, also ranking third. But the city falls near the bottom of the study for house size, with an average of 5.3 rooms per house.

Data and Methodology

In order to find the most affordable beach towns in the country, SmartAsset compared 218 cities located directly on an ocean (including bays and sounds). Specifically, we examined the following four metrics:

  • Home value. This is the median home value in each city. Data comes from the Census Bureau’s 2019 5-year American Community Survey.
  • Number of rooms. This is the average number of rooms per house. Data comes from the Census Bureau’s 2019 5-year American Community Survey.
  • Property taxes. This is the median property taxes paid. Data comes from the Census Bureau’s 2019 5-year American Community Survey.
  • Monthly housing costs. This is the median monthly housing costs. Data comes from the Census Bureau’s 2019 5-year American Community Survey.

First, we ranked each city in each metric. Next, we found each city’s average ranking, assigning an equal weight to each metric except for the average number of rooms, which received a half weight. We then ranked the cities according to this average. The city with the best average ranking received a 100. The city with the worst average ranking received a 0.

Tips for Buying a Home

  • Want to live in a beach town? Start saving now, and think about getting some help from a financial advisor. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool connects you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors, get started now.
  • Make sure your budget allows for your ideal home. Before you start looking at homes, figure out how much house you can afford so that you aren’t wasting any time looking at places that aren’t right for you.
  • Time and tide wait for none. If you want to move to the shore in retirement, start saving now, and make sure to take advantage of a workplace retirement plan like a 401(k) if you have access to it.

Questions about our study? Contact press@smartasset.com.

Photo credit: ©iStock.com/benedek

Ben Geier, CEPF® Ben Geier is an experienced financial writer currently serving as a retirement and investing expert at SmartAsset. His work has appeared on Fortune, Mic.com and CNNMoney. Ben is a graduate of Northwestern University and a part-time student at the City University of New York Graduate Center. He is a member of the Society for Advancing Business Editing and Writing and a Certified Educator in Personal Finance (CEPF®). When he isn’t helping people understand their finances, Ben likes watching hockey, listening to music and experimenting in the kitchen. Originally from Alexandria, VA, he now lives in Brooklyn with his wife.
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