Engel & Völkers Florida today announced the record-breaking sale of a premier waterfront estate located at 1016 Harbor Drive in Delray Beach. The $10.2 million transaction, brokered by Lenny Felberbaum and Morgan Martin with Engel & Völkers Delray Beach, sets a new benchmark in the Delray Beach real estate market for the 2024 calendar year.

"We are incredibly proud to have set a new market record with this sale in the esteemed North Beach neighborhood of Delray Beach," said Felberbaum. "This achievement underscores the enduring appeal of its timeless design and unmatched waterfront views, attributes that define the desirability of properties in this exclusive area."

The previous record for the 2024 calendar year in the Delray Beach market was held by a property located at 602 North Ocean Boulevard, which sold on June 25, for $9.125 million. That property featured five bedrooms, six bathrooms, and 6,065 square feet, translating to $1,504.53 per square foot. This transaction was represented by Pascal Liguori and Antonio Liguori with Premier Estate Properties, Inc. In comparison, the latest sale of 1016 Harbor Drive, with six bedrooms, seven bathrooms, and 5,657 square feet, achieved $1,803.07 per square foot, setting a new benchmark for the area.

“The property was on the market for just under a year,” said Martin. “Despite the challenges posed by a lack of comparable sales in this waterfront neighborhood, our unwavering commitment and expertise ensured a successful transaction. This sale not only sets a new benchmark but also highlights our ability to navigate complex market conditions.”

1016 Harbor Drive features an expansive layout with four guest bedrooms, each with an ensuite bathroom and ample closet space, plus a spacious bonus room. The primary bedroom suite includes a spa-like bathroom with a soaking tub and oversized walk-in shower. The home also offers a unique upstairs patio with waterfront views and outdoor amenities, including an entertainer's bar and elevator. Outside, amenities include an 80 foot Trex dock, electric boat lift, and twin jet ski dock, providing easy access to waterways. The backyard features a pool surrounded by lush landscaping. The property combines luxury with convenience, offering proximity to restaurants, shops, and entertainment.

“Breaking sales records is not new to us,” said Peter Giese, CEO of Engel & Völkers Florida. “We have consistently set new benchmarks across various markets. This sale further solidifies our position as leaders in the luxury real estate industry, demonstrating our commitment to excellence and our ability to deliver unparalleled results for our clients. The property itself is a testament to the quality and allure of the homes we represent.”

In addition to this milestone sale, Engel & Völkers Delray Beach is having a robust year, closing 74 transactions year-to-date, totaling $88,051,500 in sales volume. With an average sales price of $1,189,885, the brokerage continues to surpass market norms. Notably, the average home value in Delray Beach increased from $330,000 to $355,000, representing a 7.6 percent increase from 2023 to 2024. Engel & Völkers Delray Beach’s average sales price is approximately 235.2 percent higher than the local average, highlighting the superior performance and the premium properties represented by the brokerage.

Felberbaum joined forces with Engel & Völkers Florida in 2016 to open Engel & Völkers Delray Beach. The brokerage currently maintains a roster of 30 active advisors, who are committed to delivering exceptional service and results.