A 10,000-square-foot waterfront mansion has hit the market for $16.9 million, making it the highest-priced home on Sanibel Island.
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The home located at 6111 Sanibel Captiva Road is owned by A.J. Scribante and his wife Sunny, who named their estate, Mandalay.
“Mandalay is just a happy place,” said A.J. Scribante. “There’s a song that goes ‘on the way to Mandalay where all the people play.’”
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The five-bedroom, seven-bathroom, mansion has been the Scribante’s sandy playground for the past 10 years, but now they are ready to pack up and head to their ranch in Colorado, called Mandalay West, where they have horses, cows, goats, pigs and miniature donkeys.
“We’re downsizing and going to do some traveling and spend some time at our ranch in Colorado,” A.J said. “Sunny is God’s gift to the animal kingdom that’s for sure.”
The couple, who are in their 80s, plan to spend some time together and do some traveling after they sell the home.
“My mother told my brother and I, she said ‘boys, don’t die with the music still in you,’” A.J. said. “You need to capture and take advantage of every opportunity that comes your way.”
A.J. was the founder of Majers Corp., a multimillion-dollar marketing information company with clients like Pepsi, General Foods and Procter & Gamble. He sold the company for $65 million in 1986.
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The Scribantes built the Mediterranean mansion that sits on 2.2 acres with 300 feet of beach frontage on Sanibel in 2009.
“It took two years to build and that was at a time when it was difficult ’cause it was during the downturn of the economy,” A.J. said. “We had a lot of rising costs, and we couldn’t get concrete out to the island.”
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Features of the home include Argentinian cathedral doors, hardwood floors and wood-beamed ceilings, waterfront vistas from every room, an open floor plan with multiple living areas and an elegant master suite.
The outdoor space offers multiple terraces, balconies, an interior courtyard and a pool and spa that overlook lush tropical landscaping.
“My favorite is the views and the scenery of the ocean and the beach and boats going by,” Sunny said. “Seeing people walk by with their family and seeing all the little kids having fun … it brings back such happy memories of when my parents would bring me down.”
The extravagant beach home is exclusively listed by Jeff Burns of Premier Sotheby’s International Realty’s Sanibel office.
“If this was just vacant land, it would probably be close to $10 million in just raw dirt cost and then to build a home like this … you’re looking at at least $7 million to build, possible more so I think the price is right on,” Burns said.
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Burns grew up on Sanibel with his parents, who manage the Burns Family Team and have been working with real estate on the island since 1986.
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Homes like Mandalay usually attract a particular kind of buyer and can sometimes sit on the market for a while, but Burns said sometimes buyers come quickly.
“But these buyers can appear out of nowhere; they’ll fly in and then you get a call and the next thing you know you have a multi-million dollar offer,” he said.
Burns also has the second highest priced listing for Sanibel and Captiva, a five-bedroom, five-bathroom home waterfront home on Captiva located at 15819 Captiva Drive, listed for $9.99 million.
“Homes of this stature do not usually sell quickly as the buyer pool is much smaller than the general market. However, they do sell and with our unique blend of water, sunshine and lifestyle each year we attract more affluent buyers,” said Michael Polly, president and managing broker of Royal Shell Real Estate.
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In the past nine years, 34 homes have sold on both Captiva and Sanibel for more than $5 million. The last time a home on the islands sold for more than $10 million was in 2016.
After being on the market for almost two years, in 2016 a home at 16670 Captiva Drive sold for $16.5 million. That home has 200 feet of beach frontage and is on 2.29 acres.
As for the Mandalay home, Polly says only time will tell if the price is right for the extravagant island home.
“The value in the eyes of the buyer and the seller are rarely seen in 20/20 vision,” he said. “It is a very special property. You can’t find a comparable, only relative properties, that a buyer might consider as another option. In that respect, Mandalay stands out uniquely.”
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Source: https://t-tees.com
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