$115M Florida chateau with go-kart track aims to shatter Tampa real estate record by more than $90M

A newly listed Tampa mansion looks like something out of a child’s fantasy, complete with a fully operational go-kart track and bowling alley (1). And it comes with a sky-high price tag to match.

The 87-acre estate is on the market for $115 million, nearly $100 million more than its current owner, Steven Lempera, paid for it in 2021 (2). If it sells for that price, it will set a new record for the most expensive real estate sale in the Tampa area by more than $90 million.

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As you might expect, this property is designed with the ultra-wealthy in mind. But its high price, particularly the dramatic increase over the past five years, also says something about how the housing market has changed.

The expansive property is built for privacy

Much of the estate is devoted to on-site services, including a professional equestrian facility, mechanic shop, car paint booth, mill and metal workshop, office complex and spa. You could go weeks without leaving the property.

According to listing agent Eddy Martinez, those features are central to the property’s appeal.

“The most important thing for them to consider a property, in a serious manner, is does it offer the privacy, and does it have the capability of being secure?” he asks.

This mansion checks both boxes. In addition to its extensive amenities, it’s accessible by seaplane and helicopter. The listing says it’s just 10 minutes from Tampa’s executive airport (3).

And the strategy seems to be working. The property already has two prospective buyers who have passed “a vigorous vetting process,” even though it has been on the market only a short time (1).

How this price reflects the housing market

Lempera bought the property in 2021 for $16.7 million. No matter how many improvements have been made since then, an increase of nearly $100 million seems steep.

Home prices in Tampa have risen significantly during that time. In January 2021, the median listing price on Zillow was $270,000 (4). Today, it’s a little over $370,000. That’s a substantial increase, but nowhere near the markup on this property.

Home prices across the U.S. show a similar, though less dramatic, pattern. In the first quarter of 2020, the average sales price of a home was $355,000. Now, it’s a little over $403,000 (5).

Notably, Tampa home prices have held up better after the pandemic than prices nationwide, which peaked in 2022 at around $443,000.

Florida is also having a moment with ultrawealthy buyers. Multiple billionaires, including Google co-founder Sergey Brin, have recently purchased high-end real estate in the Miami area (6). A report by Compass found that Palm Beach saw 46% growth in the number of properties worth $10 million or more (7).

Tampa isn’t Miami, but it offers the same tax advantages. For buyers seeking a self-sufficient estate, tax benefits may matter more than nearby amenities.

If the property sells at its asking price, it could signal that Tampa is next in line for a boom in ultrawealthy real estate.

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