The 74-year-old actor utilized a trust, consistent with his previous real estate transactions, which include the sale of a La Quinta, California vacation property earlier this year for $3.15 million, as indicated by property records filed on Wednesday.
Details about the property, described as a "sensational estate," are somewhat scarce. The Spanish-style compound consists of a main house, a guest house, and a pool pavilion, according to the listing from Lawrence Moens of Lawrence A. Moens Associates.
Interestingly, Moens himself used to be the owner of the property, as reported by the Palm Beach Daily News, the first outlet to break the news.
Built in 2014, the main house features five bedrooms, spanning over 10,500 square feet, and is adorned with oversized windows, fireplaces, vaulted ceilings, and hardwood floors, according to the listing. Additional amenities include a gym, a temperature-controlled wine room, and outdoor features such as a keyhole-shaped pool, a spa, and over 250 feet of sandy waterfront.
"A casual elegance throughout this property can be experienced from the front door to the dock," reads the listing.
The sellers of the home, who own a subcontracting company, purchased the property for $26.65 million just over two years ago, according to records with PropertyShark, and listed it for sale in June for $37.85 million.
Want to see what a $115 million home looks like?https://t.co/dSIrJ1tggF
— Mansion Global (@MansionGlobal) December 17, 2020
High-end homes in Palm Beach, as well as across South Florida, have experienced increased popularity, driven by factors such as record-low interest rates, a growing number of homebuyers moving from tax-burdened northeastern states, and the rise of work-from-home and remote-learning policies.
According to a November report from the Miami Association of Realtors, the number of luxury single-family homes, defined as those priced at $1 million and above, that changed hands in the third quarter of this year increased by 82.9% compared to the same period last year.
Sylvester Stallone, best known for his roles in the "Rocky" and "Rambo" film franchises, remains a prominent figure in the entertainment industry. A representative for the star declined to provide comments on the recent real estate acquisition.
