Discover the luxurious $24 million mansion in Delray Beach, Florida, where home values have skyrocketed.

• The owners of the $24 million listing in Delray Beach, Florida, aim to break the local record for price per square foot by over 40%.
• The mansion is situated in Stone Creek Ranch, a private community where billionaire hedge fund manager Steven Cohen, NFL star Khalil Mack, and singer-songwriter Romeo Santos reside.
• In just five years, the average price per square foot of a mansion in Delray Beach has increased significantly.

The owners of the almost 11,500 square-foot mansion in Delray Beach, Florida, are seeking $24 million for their residence in one of the most expensive gated communities.

The price of Villa Ananda, a non-oceanfront home in the town, is almost $2,100 per square foot, surpassing the record for such homes.

According to broker Senada Adzem, the ultra luxury real estate market in Florida will continue to thrive as long as affluent clients view the state as a haven for lifestyle and tax benefits.

In the past five years, the Delray Beach market has experienced significant growth, with the average price per square foot of a luxury home increasing from $416 to almost $840.

The 102% increase in Delray Beach's luxury home prices is even more remarkable when compared to the Miami coastal mainland's 86% increase and Manhattan, New York's 2% decline in average luxury home prices per square foot.

In the last quarter of 2023, the average luxury home sale in Delray Beach increased by 90%, from $2 million in 2018 to $3.8 million.

"Delray Beach is one of the premier luxury residential markets in South Florida, according to Adzem, who told CNBC that people often overlook it in favor of Miami and Palm Beach when discussing high-end real estate in the region."

An exclusive enclave called Stone Creek Ranch has attracted many of the town's high-net-worth residents, including billionaire hedge fund manager Steve Cohen, National Football League star Khalil Mack, Gerry Smith, CEO of ODP, the parent company of Office Depot, and singer-songwriter Romeo Santos.

In 2019, Antonio Neri, CEO of Hewlett Packard Enterprise, bought a home here for $7.5 million. He sold it in 2022 for $14 million, resulting in an almost 87% increase in value within three years. Both transactions were facilitated by Adzem.

Neri revealed to CNBC that she bought the home because she adored it and the area. Additionally, it proved to be a lucrative investment.

In the past year, the most expensive sale in the 37-residence community occurred when a 17,800 square-foot mansion at 9200 Rockybrook was sold for $26 million, or $1,460 per square foot, through the brokerage of Adzem.

Her latest listing, 9303 Hawk Shadow Lane, is not the most expensive home in Stone Creek Ranch, but it would be the highest price per square foot ever achieved, surpassing the previous record by more than 40%.

Over the past three years, the demand for trophy properties in South Florida has increased due to tax benefits, safety concerns, and the pandemic, according to Adzem, who spoke to CNBC.

Over the past four years, the real estate agent has sold five properties in this high-end neighborhood, twice each, and brokered more than $136 million in transactions, all within 500 meters of her latest listing.

Neri, a former buyer who became a seller, made significant profits in a short period. However, Adzem believes that the market is still moving in the right direction, and the limited supply is a contributing factor.

Adzem stated that the high demand for estates in Stone Creek Ranch, with only 37 multimillion-dollar properties available, further emphasizes this market trend.

Here's a look inside the 6 bedroom, 10 bathroom Villa Ananda:

The one-story residence sits on 2.5 acres surrounded by a man-made lake.

The estate's landscape is devoid of palm trees, which are commonly found in Florida. Instead, it features Italian Cypress trees, bougainvillea, rose bushes, pines, and olive tree look-alikes.

According to Adzem, the owners of the residence chose landscape architect Krent Wieland to incorporate greenery into the design, making it feel less like a Florida mansion and more like a luxurious villa in the Italian countryside.

Adzem stated that every detail of their surroundings was meticulously curated, inspired by the awe-inspiring vistas of southern Italy's countryside.

Villa Ananda's primary suite is over 3,500 square feet and includes two home offices, two walk-in closets, two baths, and a wellness area with an infrared sauna and massage table, as stated by Adzem.

Inson Dubois Wood designs interiors with bespoke furniture by Studio Liaigre, and while the furnishings are not included in the asking price, they are negotiable, according to Adzem.

Selenite, a crystal formed from calcium-rich saltwater evaporation, is used to craft custom chandeliers in the living room, formal dining room, baths, and even closets.

A dining area for twelve people is available in the kitchen, and there's a separate formal dining room that can seat ten guests.

The white Calacatta Crema marble countertops in the kitchen flow like a waterfall, while the soft gray driftwood-inspired wood floors add to the weathered look.

A saltwater pool, 20-person hot tub, zen garden, fire features, a fruit tree orchard, and rose garden are all found outside.

Nine air-conditioned garage areas are flanked by a stone driveway that leads to a parking courtyard.