A northeast Florida residence along 192 feet of the Intracoastal Waterway is back on the market, about eight months after it last sold.
"Seven Palms Estate," set on 2 acres at 301 S. Roscoe Blvd. in Ponte Vedra Beach, features a 5,760-square-foot main house with five bedrooms and a separate one-bedroom guest house.
Public records show that Matthew and Kandice Nawrocki paid $7.1 million for the two-story compound in September. It's now listed for sale with Douglas Elliman at just under $7.9 million, according to Homes.com.
The owners are moving out of the area due to an undisclosed change in circumstances, according to Jeff Tabb, the co-listing agent with Kim Martin-Fisher. Douglas Elliman posted it to the Multiple Listing Service in early May, Tabb said in an interview.
"It's like a resort," he said. "It's a special property."
Ponte Vedra Beach, an upscale, unincorporated area south of Jacksonville, is best known as the headquarters of the PGA Tour and the site of The Players Championship, unofficially considered the tour's "fifth major" tournament.
Most of the rooms have water views
Ponte Vedra Beach is performing well economically, but the high-end housing market there appears to be slowing, according to Lisa McNatt, director of market analytics for Homes.com and CoStar.
"Some market participants have noticed that the number of luxury buyers may be contracting in the area, which could reduce the number of offers on new listings in the months ahead," she said in an email.
All rooms but one in Seven Palms have views of the Intracoastal Waterway. The family, including three young children, enjoyed boating and other outdoor activities while living in the house, Tabb said. There's a five-hole putting green in the backyard.
Other features include a porte cochere, three fireplaces, two garages, and a 3,166-square-foot heated and cooled detached structure with a gym and flex space, according to the listing. Waterfront amenities include a saltwater pool, ocean access, a dock and boathouse with a ramp, a 13,000-pound boat lift and a 6,000-pound lift.
Tabb, also a custom home builder, said the original owner built the house two decades ago and renovated it in 2012. His company is finishing a renovation it started in October to include a new cabana-style summer kitchen and interior upgrades, such as wood flooring in a bonus room over the garage, a wood stairway to that room, new air-conditioning units and closets, and a conversion from a septic system to a sewer.
At the end of April, the median sale price in Ponte Vedra Beach was $865,000, up 11% from the same period a year earlier, Homes.com data shows. Three out of every four residents are homeowners.
'PVB has changed immensely'
While luxury homes often sell for cash, a buyer who pays the asking price on this listing, puts 20% down and gets a mortgage rate of 6.76% would pay just more than $41,000 a month in principal and interest, according to Homes.com data.
Tabb said he started visiting Ponte Vedra Beach in 1988 and moved there five years later from Cincinnati.
"PVB has changed immensely," he said. "Many smaller boutique neighborhoods have popped up, and older homes originally built in the '80s and '90s are now being torn down to make room for larger, more family-friendly homes with current amenities and products."