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.<\/p>\n
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.<\/p>\n
Must Read <\/p>\n
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.<\/p>\n
The expansive property is built for privacy <\/p>\n
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.<\/p>\n
According to listing agent Eddy Martinez, those features are central to the property’s appeal.<\/p>\n
“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.<\/p>\n
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).<\/p>\n
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).<\/p>\n
Read More: This $1B private real estate fund is now accessible to non-millionaires. Start investing with just $10<\/a><\/p>\n How this price reflects the housing market <\/p>\n 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.<\/p>\n 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.<\/p>\n 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).<\/p>\n Notably, Tampa home prices have held up better after the pandemic than prices nationwide, which peaked in 2022 at around $443,000.<\/p>\n 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).<\/p>\n 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.<\/p>\n If the property sells at its asking price, it could signal that Tampa is next in line for a boom in ultrawealthy real estate.<\/p>\n You May Also Like <\/p>\n Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/a><\/p>\n Article Sources <\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines<\/a>.<\/p>\n Fox 13 News (1)<\/a>; Business Insider (2)<\/a>,(6)<\/a>; One Sotheby’s Realty (3)<\/a>; Zillow (4)<\/a>; Federal Reserve Economic Data (5)<\/a>; Luxury at Compass (7)<\/a><\/p>\n This article originally appeared on Moneywise.com<\/a> under the title: $115M Florida chateau with go-kart track aims to shatter Tampa real estate record by more than $90M<\/a><\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"A newly listed Tampa mansion looks like something out of a child’s fantasy, complete with a fully operational…\n","protected":false},"author":2,"featured_media":269608,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[8370,28,30,29,8372,481,480,25152,111072,135,22028],"class_list":["post-269607","post","type-post","status-publish","format-standard","has-post-thumbnail","category-florida","tag-dave-ramsey","tag-florida","tag-florida-headlines","tag-florida-news","tag-jeff-bezos","tag-property","tag-real-estate","tag-robert-kiyosaki","tag-steven-lempera","tag-tampa","tag-tampa-area"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/269607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=269607"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/269607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/269608"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=269607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=269607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=269607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}