Mediterranean mansion hits market

Blog Post Image
Real Estate

A 96-year-old Mediterranean mansion nestled between Lake Virginia and Lake Mizell is now the most expensive Winter Park home on the market. The 13,855-square-foot estate at 1000 Genius Drive hit the market May 24, and its $12.495 million price tag leads all listings in the upscale Central Florida town. The historic home, formerly Rollins College’s Martin Hall Music Conservatory, underwent a renovation in 2018. 

The home includes 10 full bathrooms and 10 bedrooms, including two master suites. Standout interior features include a gym, an elevator, a glass wine room, and an air-conditioned 18-car garage with hydraulic lifts. Outside, the property boasts a pool and spa with lake views, a sports court, an outdoor kitchen, and two boat docks. 

The lake views, large lakefront acreage and recent interior renovation make the home “one-of-a-kind,” listing agents Mick Night and John Pinel of Premier Sotheby’s International Realty said in a prepared statement. The home stands out even in Winter Park’s pricey housing market. The town’s 32789 ZIP code features the highest average sales price in Orange County at $966,204, according to the Orlando Regional Realtor Association.

Record price tags and sales are common in Central Florida’s luxury housing market amid a residential real estate boom. For example, two properties last month made real estate history in Osceola County and Orlando’s College Park neighborhood. Intense demand for homes, combined with the lowest local home inventory in 20 years, fuels these high prices, said Rubio Realty Investments LLC owner Bryan Rubio, who is not involved with the Genius Drive property. “The inventory is going off the market at an extremely fast rate. Everything else is flooded with offers, and that drives the price up.” 

Local luxury home sales were up in April, according to the Orlando Regional Realtor Association. There were 114 homes sold for $1 million or more, a slight bump from the 112 sold in March. Trends in the residential real estate market are important, as every home sale in the state has an estimated local economic impact of $90,300, according to the National Association of Realtors. In addition, the housing market often is considered a reflection of the local economy's overall health.