Friday, December 28, 2018

Illustrated Properties’ Kathryn Gillespie Closes $20 Million Sale of Oceanfront Mansion in Manalapan, FL

Kathryn Gillespie

Manalapan, FL -- Kathryn Gillespie of Illustrated Properties, a member of The Keyes Family of Companies, has completed the $20 million sale of a waterfront mansion in Manalapan. The sale of the 1500 South Ocean Blvd. property closed on Dec. 20.

Gillespie secured the mansion listing from the seller, a Marcon family trust, in August 2018. She was able to achieve a 92 percent list-to-sale price and get the property sold in 118 days, while the average days on market for Manalapan homes above $10 million is 389 days.

1500 South Ocean Boulevard,  Manalapan, FL

The seller has previously listed the home for 453 days without finding a buyer before hiring Gillespie. Illustrated declined to disclose the buyer in the transaction.

This is the second-most expensive Manalapan sale in 2018 and the most expensive in the second half of the year.

“It was an absolute honor to successfully market this one-of-a-kind listing, which is as much of a work of art as it is a home,” said Gillespie. “We were able to leverage my strong ties to Palm Beach County and relationships, along with Illustrated’s powerful network – including its affiliations with Luxury Portfolio International and the Leading Real Estate Companies of the World® – to achieve an incredible outcome.”

Manalapan mansion
Located on a 1.6-acre lot, the six-bedroom home totals 11,673 square feet under air and includes nine full and three half-bathrooms. The estate has a total of 356 feet of waterfront property, of which 178 feet are on the Atlantic Ocean. 

The waterfront loggia, 60-foot concrete dock equipped with electricity and infinity edge pool and spa round out the amenities that provide the one-of-a-kind experience synonymous with the South Florida lifestyle.

Kelvin Leonard
Along with multiple bedroom balconies overlooking the Intracoastal Waterway, the Manalapan mansion includes a his and her master bath, private office, guest suite, gathering lounge, club/media room with state-of-the-art sound system and wet bar, fireplaces, exercise room, gourmet kitchen with Sub-Zero and Wolf appliances, wine chiller, elevator, upstairs and downstairs laundry rooms and four car-stall air conditioned garage, with the potential to park eight cars.

The mansion was designed by Randall Stofft Architects and constructed by Terry Cudmore Builders in 2008.

Gillespie successfully leveraged Illustrated’s proprietary marketing strategies while incorporating her own techniques, including professional home staging and photography, utilizing all social media platforms to reach a global audience, strategic within key Palm Beach County markets.

“Kathryn’s work in the Palm Beach County luxury market has been outstanding,” said Kevin Leonard, Vice President of Luxury at Illustrated Properties.

“In just a short period of time, we have seen her produce a level of work that is unmatched, while surpassing the expectations in quality service we look to provide to each client. We are extremely proud of her for closing 2018 on a remarkable note with this Manalapan sale.”

Manalapan mansion
Gillespie is also the exclusive listing agent for a Boca Raton mansion that was selected as a finalist in HGTV’s international “Ultimate House Hunt 2018.” The 899 Enfield Street home, which is on the market for $11.5 million, was one of 12 worldwide properties to be chosen for the “Waterfront Homes” category.

Gillespie has lived and worked in the Palm Beach County area for more than 30 years, providing her a deep connection to the area and her clients. She has been heavily involved in the local community, serving as past chair of the Boys and Girls Club Board of Directors in Boca Raton and is involved with The Arc of Palm Beach County and Impact 100 Palm Beach County.


Eric Kalis or Jasmin Curtiss, BoardroomPR

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