Actor and entrepreneur Mark Wahlberg paid $37 million for a fully furnished mansion in Delray Beach, Florida, last month. The deal sparked interest and sparked coverage from TMZ to Architectural Digest, with much of the focus on the celebrity buyer.
But in addition to its popularity, the house is also characterized by the price, which has risen rapidly over the last five years.
The actor's October transaction marks the home's fourth sale in the same period and a dramatic 118% increase in price from the January 2020 sale, when the fully furnished mansion traded for $17 million.
The grand entrance to the nearly 17,800 square meter estate known as Palazzo di Lago.
Daniel Petroni
The property, located at 9200 Rockybrook Way, experienced value appreciation that not only exceeded the local market, but also many of the top luxury markets in America.
In Delray Beach, the average sales price for a single-family luxury home, which falls in the top 10% of closed sales, increased just over 78%; Los Angeles rose 30%; the Hamptons rose 44%; and Manhattan rose just 4.5% from the first quarter of 2020 to the third quarter of 2025, according to Elliman Report data.
The house's steep increase in value even exceeded that S&P 500which has increased by around 100% over the same period.
One villa, four sales
The huge resort-style pool in the backyard is flanked by mature palm trees, a jumbo chess set, fire features and a waterfall with a grotto at the bottom and a hot tub at the top.
Daniel Petroni
What is noteworthy is that the residence has changed hands four times since 2020. Only one real estate agent was present in all four transactions, making the rising value of the seven-bedroom, ten-bathroom villa even more unique.
In 2020, real estate agent Senada Adzem of Douglas Elliman represented the original owners of 9200 Rockybrook when the home was still known as the Sundara Estate. Three years later, Adzem represented the mansion's second owner, who re-listed the house when it sold for $26 million, a 53% increase in just three years.
A little more than a year after the home was purchased, public records show that a trust associated with William Cafaro, co-president of a retail real estate development company in Niles, Ohio, and the home's third resident decided to sell it. Adzem again acted as listing agent.
This transaction was more unusual. Cafaro sold the home as part of a larger $50.5 million deal to purchase a Ferrari-inspired mansion less than a half-mile up the road in Stone Creek Ranch. Casa Maranello, as it is called, was sold by local developer Aldo Stark of Prestige Design Homes with Adzem as agent.
Cafaro paid for the new home with $24.5 million in cash, plus the deed to 9200 Rockybrook Way, which was valued in the deal at the same price he paid for it: $26 million.
When that sale closed in January 2025, Stark became the mansion's fourth owner and immediately began a dramatic, multimillion-dollar renovation of the nearly 17,800-square-foot megahome. He abandoned the old name Sundara and covered the old stone walls of the house with polished, rare stones and strong, high-gloss Guyana wood from Brazil.
A before and after picture of the foyer's grand staircase. Stark added a 30-foot-tall vegetation wall and covered the adjacent walls with high-gloss Brazilian wood.
He installed bright green vegetation over a grand staircase and in the ceilings.
From the kitchen to the club room, Stark completely redesigned everything and furnished the residence with custom-made furniture.
The kitchen before.
Daniel Petroni
The kitchen afterwards. The new look includes counters clad in Orobico Grigio marble, floor-to-ceiling walnut cabinets, vegetation accents on the ceiling and 30 teardrop-shaped light fixtures.
And about two months after closing, the megahome was up for sale for the fourth time.
The company reemerged with a new look, a new name and a new price tag. One of the few things that remained the same was that Adzem was once again acting as the listing agent.
The lounge bar before.
Daniel Petroni
The lounge bar afterwards.
Daniel Petroni
The home, now called Palazzo di Lago, opened with an ambitious asking price of $45 million, $19 million more than what Stark paid for it two months earlier and 165% more than what it sold for in 2020.
In October, Adzem completed its fourth deal, handing over Palazzo di Lago to its fifth owner. The buyer's agent, Michael Costello of Compass, confirmed to CNBC that it was Mark Wahlberg.
One of the mansion's two home offices, clad in wave marble.
Daniel Petroni
According to Florida's Multiple Listing Service, the fully furnished mansion sold for $37 million, $11 million more than the price Stark bought it for seven months earlier and a 118% increase over its 2020 sale.
And Adzem achieved an unusual feat in real estate, selling the same house four times in five years for a total value of $106 million.
Master bedroom
Daniel Petroni
Five owners in five years seems like an unusually high turnover rate, but Adzem has a simple explanation.
“People’s circumstances change and they go through different chapters in their lives, so we were privileged to be able to take this house through different developments and different owners and add value to it,” said Adzem.
According to Adzem, the mansion's remarkable appreciation was due to a variety of factors. Here are the top 5:
1. The pandemic
Adzem attributed much of the 53% price increase from 2020 to 2023 to the pandemic, which caused a surge in demand and prices for homes in South Florida.
“Post-Covid, our market has definitely accelerated,” she told CNBC.
Her walk-in closet is inspired by the Chanel boutique
Daniel Petroni
2. The “micro market”
Some of the other market dynamics driving Palazzo di Lago's price are unique to Stone Creek Ranch, which Adzem described as a luxury “micromarket.”
The exclusive residential complex extends over approximately 187 hectares, each with 37 luxury homes on approximately 2.5 hectares of land. It's a tight supply whose prices have been dramatically affected by a wave of new construction properties trading at record-breaking prices. These recent competitions have helped drive up the price of the Palazzo di Lago.
Even the price of land at Stone Creek Ranch is rising steeply. In 2013, the vacant property at 9200 Rockybrook Way traded for $800,000. In 2021, Adzem sold a comparable 2.5-acre property for $1.7 million.
“The last trade they traded was $6 million,” Adzem told CNBC. “However…there are no vacant lots left in this community.”
And Adzem believes that a more than three-fold increase in oil prices is just the beginning here. She points out that it's hard to come by 5-acre properties worthy of a megahome in Palm Beach County, and that dwindling supply, particularly in this neighborhood, will drive property prices even higher.
“I have a feeling the dirt is going to double because the only possible sales would be demolitions.”
His wardrobe is inspired by Tom Ford.
Daniel Petroni
3. The power of VIP neighbors
Another market driver: the growing list of VIP owners in the small community.
In 2021, billionaire hedge fund manager and New York Mets owner Steve Cohen purchased the home next to 9200 Rockybrook Way for about $22 million, according to MLS.
“[Potential buyers] Typically look for the other property owners in the community. That’s important to them,” Adzem said.
Rich and famous residents can create a halo effect, making nearby properties more attractive to potential buyers. And there's no shortage of particularly wealthy neighbors who live nearby, including several current and former CEOs of Fortune 500 companies, a former NFL player and a pop star, according to Adzem and public records.
And now some may even see Walhberg's new ownership increasing the community's appeal. Meanwhile, developer Stark just finished construction and recently moved into his own 32,000-square-foot mansion.
4. Asset migration
Wealthy buyers looking to avoid home state tax burdens continue to see the tax advantages offered in Florida as a major draw, helping to stimulate and sustain demand.
“We've seen a large and sustained influx of buyers from California, New York and Connecticut, and they want what you see here,” Adzem told CNBC.
The open kitchen flows into a family room with faux vegetation accenting the ceiling.
Daniel Petroni
5. The multi-million dollar renovation
Adzem also appreciated that Stark's renovation increased the property's value.
“He is neither neutral nor did he choose the color scheme very conservatively. He really wanted to make an impression and express his own taste here,” said Adzem.
Adzem and Stark would only describe the cost as “a multi-million dollar renovation,” so it's unclear exactly how much it cost to convert a house built in 2017 into the new Palazzo di Lago.
But Adzem told CNBC that the dramatic renovation and new “James Bond-inspired atmosphere” were the final catalysts that produced a buyer willing to pay a premium.
Correction: William Cafaro paid for the new home with $24.5 million in cash. An earlier version of this story omitted the million. The price of the house increased by 53% from 2020 to 2023. A previous version incorrectly stated the percentage.