However, a recent real estate deal might just be one of the most unusual the region has seen in a minute.
Last week, a Ferrari-themed mansion known as Casa Maranello in Delray Beach broke a local record when it sold for a staggering $55 million. (While the closing price on MLS was $50.5 million, it ultimately sold for $55 million including furnishings).
The mega deal was not only remarkable because of its hefty price tag, but also due to the unique nature of the transaction, which included a mansion swap (yes, you read that right), bespoke furniture, alcohol, and even a miniature replica of a Ferrari 250 Testa Rossa sports car.
Public records show the buyer was a trust linked to William Cafaro, the co-president of a retail property development company in Ohio. His family was one of the early developers of shopping malls.
According to CNBC, the trust paid the home’s architect and developer, Aldo Stark of Prestige Design Homes, $24.5 million — along with the deed to Carafo’s nearly 18,000-square-foot mansion in Delray Beach, which records show was valued at $26 million.
Located at 16171 Quiet Vista Circle in Delray Beach, the Ferrari-inspired waterfront estate spans more than 2.5 acres and features seven bedrooms and 11 bathrooms.
The mansion, named after the Italian town where Ferrari's factory is based, prominently displays a bronze Ferrari horse at the center of a fountain near the entrance. Inside, a replica of a vintage red Ferrari sits in the home’s grand salon, while the living room offers a direct view into a glass-walled, 12-car garage.
Although the home was marketed as fully furnished, the millions of dollars worth of Ferraris parked in the garage were not included in the sale. Most of the cars were part of Stark’s private collection.
No, the millions of dollars worth of Ferraris parked in garage were not included in the sale.
Photo by Daniel Petroni
