A mansion in Hillsboro Beach has sold for $42 million, the largest deal for the small South Florida town in nearly a decade.
The sale of the beachfront home nearly set a record. In 2018, a nearby property known as Playa Vista Isle sold for $42.5 million at auction. Both Play Vista Isle and the recently sold property comprised a mansion and a neighboring vacant lot.
Located in Broward County near Pompano Beach, Hillsboro Beach is made up of a 3.2-mile strip along the coastal highway of A1A that’s often referred to as “Millionaires’ Mile,” as it’s lined with luxury waterfront homes. This property spans both sides of A1A, giving it frontage—and buildable land—on both the oceanfront and along the Intracoastal Waterway.
The seller initially listed the home in December for $59.95 million, which made it the most expensive property on Hillsboro Beach’s market at the time. A price cut brought the ask down to $54.5 million in February, and it found a buyer in mid-June. The sale closed on Tuesday.
The seller owned the home through a trust and couldn’t be identified. They bought the property when the 10,100-square-foot, seven-bedroom home was newly built in 2021 for $20 million, records show, then completely renovated it despite it being brand new.
The home was built in 2021 and was more recently renovated.Daniel Petroni
“They wanted to elevate the finishes…They decided to start with a little bit of renovation on the first floor, but as they got involved, it ended up being a full-scale renovation,” listing agent Chad Carroll of the Chad Carroll Group at Compass previously told Mansion Global. He declined to comment on the sale.
The buyer is Mason Slaine, a former CEO of Thomson Financial (now Thomson Reuters) and the vice chair of the Boca Raton Regional Hospital Foundation’s board of directors.
The property spans both sides of A1A.Daniel Petroni
Slaine saw an opportunity in the rareness of the property having frontage along both the beach and the Intracoastal, as well as in the property’s 2.35 acres, providing room to expand.
“Houses on the beach in South Florida don’t come on the market very much,” Slaine said. “It’s like buying a rare painting—when they come up for sale, if you don’t buy it, you’ll have to wait another five or 10 years and pay three times as much, so that’s why I grabbed it.” Slaine is also an operating partner at Boston-based private equity firm Advent International and executive chairman at the patent intelligence company Minesoft.
“It’s increasingly difficult to find an oceanfront property that delivers this level of privacy while also offering unobstructed views from the Atlantic Ocean to the Intracoastal Waterway,” said buyer’s agent Senada Adžem of Douglas Elliman.
The property has 235 feet of ocean frontage.Daniel Petroni
Slaine said he and his wife, Daniele, will likely build a guest house on the Intracoastal side of the property.
“On the main land, we’re going to plan a really big party, so we’re not going to do anything in terms of building until after that,” he said. “We might put a tennis court in and maybe a little three-hole golf course.”
Hillsboro Beach was attractive to Slaine given its proximity to Boca Raton, as he remains active in the community’s philanthropy, specifically at the hospital. In Boca, the only beachfront residential offerings are condos, and there wasn’t anything available in neighboring Delray Beach or Highland Beach that matched what they were looking for.
The property has unobstructed ocean views.Daniel Petroni
“This was the only house that had all the things we wanted,” he said. “It’s about a 10-minute drive to my present house, so it worked in that respect, too.”
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