A pair of mansions in the Royal Palm & Yacht & Country Club in Boca Raton sold on the same day in separate deals for $24 million and $15.5 million as activity in this exclusive community heats up.
David Roberts of Royal Palm Properties represented both sellers. He said that many people who were looking in the community in the past are now ready to close and move in.
In the bigger deal, G. Robert Sheetz, through the 1992 Royal Palm Way Trust, sold his homestead property of 6,200 square feet at 1992 Royal Palm Way for $24 million to John H. Slavik and Kathleen A. Slavik.
He’s a member of the billionaire family that owns the Sheetz convenience store chain, which has more than 700 locations. Roberts also represented the buyer in the deal, as the price equated to $3,871 per square foot. Sheetz sold another home in Royal Palm for $25.92 million in 2024.
The home was built on the 0.39-acre site along the Intracoastal Waterway in 2002. This is the first time it has sold. It features four bedrooms, five bathrooms, two half-bathrooms, a bar, a dock, a pool, and a summer kitchen.
As for the buyers, the Slaviks already own a home at 510 E Alexander Palm Road in Royal Palm.
“This home is like a mini mansion, it has all the bells and whistles of a bigger home,” Roberts said.
At the same time, Paul Stile and Catherine Stile sold the new home of 8,525 square feet at 481 Thatch Palm Drive for $15.5 million to the 481 Thatch Palm Land Trust, with attorney Thomas U. Graner as trustee. Roberts said the home was completed by SRD Builders but the owners decided to sell it before moving in. The buyer was represented by Michelle Smith of Penderwhite Properties, with the price equating to $1,818 per square foot.
Roberts added this was a record price for a non-waterfront lot in Royal Palm. Situated on 0.39 acres, the home has five bedrooms, six bathrooms, two half-bathrooms, a bar, an expansive balcony, and a pool.
Royal Palm has about 640 homes but there’s not much inventory on the market, so listings tend to sell quickly, Roberts said.
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