The value of Mark Wahlberg’s $37 million mansion has soared. The reason is as follows

Actor and entrepreneur Mark Wahlberg purchased a fully furnished mansion in Delray Beach, Florida, last month for $37 million. The deal generated interest, with coverage from TMZ to Architectural Digest, with most of the focus on the high-profile buyer.

But apart from its name recognition, the home’s price appreciation over the past five years also makes it stand out.

The actor’s October transaction marks the home’s fourth sale in the same period, marking a dramatic 118% increase in price since its January 2020 sale, when the fully furnished home went for $17 million.

The property, located at 9200 Rocky Brook Way, has seen an increase in value that has outpaced not only the local market, but also many luxury markets in America.

In Delray Beach, the average sales price of single-family luxury homes, which represent the top 10% of closed sales, rose more than 78%. Los Angeles was up 30%. The Hamptons rose 44%. According to Elliman Reports data, Manhattan’s growth rate from Q1 2020 to Q3 2025 was just 4.5%.

The rapid rise in housing values S&P500an increase of approximately 100% over the same period.

Notably, the home has been traded four times since 2020. Just one real estate agent represented the listing in all four transactions, making the seven-bedroom, 10-bathroom home’s soaring value even more unique.

Back in 2020, Douglas Elliman real estate broker Senada Adzem represented the original owner of 9200 Rocky Brook when it was known as Sandara Estate. Three years later, Adzem represented the mansion’s second owner, who relisted the mansion and sold it for $26 million, an increase of 53% in just three years.

A little more than a year after purchasing the place, public records show that the home’s third occupant, a trust connected to William Cafaro, co-president of a Niles, Ohio, retail real estate development company, has decided to sell. Adzem is once again the listing agent.

This deal was even more unusual. Cafaro sold the house as part of a larger $50.5 million deal to buy a Ferrari-style mansion at Stone Creek Ranch less than a half-mile from the road. Casa Maranello, as it is known, was marketed by local developer Aldo Stark of Prestige Design Homes, with Adzem serving as the listing agent.

Cafaro paid for his new home with $24.5 million in cash and the deed to 9200 Rocky Brook Way. The deed was valued at $26 million, the same price he paid in the contract.

When the sale was completed in January 2025, Stark became the mansion’s fourth owner and immediately began a dramatic multi-million dollar renovation of the approximately 17,800 square foot megahome. He scrapped the old Sundara name and covered the house’s old sheetrock walls with polished rare stone and bold high-gloss Guyanese wood from Brazil.

He installed bright green vegetation above the grand staircase and on the ceiling.

Stark completely overhauled everything from the kitchen to the clubrooms and filled the mansion with custom-made furniture.

Now, about two months after closing, the megahome has been put up for sale for the fourth time.

It’s back with a new look, new name, and new prices, but one of the few things that remains the same is that Adzem is once again the listing agent.

The mansion, now called Palazzo di Lago, debuted with an ambitious asking price of $45 million, which was $19 million more than what Stark paid two months ago and 165% more than its 2020 sales price.

By October, Adzem had finalized a fourth deal, handing over Palazzo di Lago to its fifth owner. The buyer’s broker, Michael Costello of Compass, confirmed to CNBC that the owner is Mark Wahlberg.

The fully furnished home sold for $37 million, according to the Florida Multiple Listing Service, $11 million more than the price Stark bought it for seven months ago and an 118% increase from its 2020 sale price.

And Adzem accomplished an unusual feat in the real estate world: selling the same house four times in five years for a total of $106 million.

Five owners in five years seems like an unusually high turnover rate, but Adzem has a simple explanation.

“People’s circumstances change and there are different chapters in life, so we were privileged to take this house through different evolutions and different owners and add value to it,” Adzem said.

According to Adzem, the mansion’s impressive valuation was driven by a variety of factors. The top five are:

Adzem said much of the 53% price increase from 2020 to 2023 was due to the pandemic, which caused housing demand and prices in South Florida to skyrocket.

“Our market definitely accelerated after COVID-19,” she told CNBC.

Some of the other market trends driving Palazzo di Lago’s price are unique to Stone Creek Ranch, which Adzem described as an upscale “micromarket.”

This exclusive gated community spans approximately 187 acres and features 37 luxury homes, each located on approximately 2.5 acres. Supply is tight and prices are being dramatically affected by a wave of new homes trading at record prices. These recent comps have helped drive up Palazzo di Lago’s price.

The price of soil at Stone Creek Ranch has also skyrocketed. Back in 2013, a vacant lot at 9200 Rockybrook Way was on the market for $800,000. In 2021, Adzem sold a comparable 2.5-acre parcel for $1.7 million.

“The last deal they made was for $6 million,” Adzem told CNBC. “But… there is no vacant land left in this village.”

And Adzem believes the more than three-fold increase in soil prices here is just the beginning. She points to the fact that 2.5-acre lots worthy of megahomes are hard to come by in Palm Beach County, and land prices will likely rise even higher, especially with reduced supply in the area.

“The only thing that might be sold in the future is disassembly, so I feel like the dirt will double.”

Another market driver is the growing list of VIP owners in this small community.

Billionaire hedge fund manager and New York Mets owner Steve Cohen bought the house next door at 9200 Rocky Brookway in 2021 for about $22 million, according to MLS.

“(Potential buyers) usually want to know who else owns it in the community. That’s important to them,” Adzem said.

Wealthy and famous residents can create a halo effect, making nearby properties more attractive to potential buyers. Adzem and public records show there is no shortage of ultra-wealthy people living in the neighborhood, including several current and former CEOs of Fortune 500 companies, former NFL players, and pop stars.

And now, one might think that Mr. Wahlberg’s new ownership would make the community even more appealing. Meanwhile, developer Mr. Stark has just finished construction and recently moved into his 32,000-square-foot mansion.

Wealthy buyers looking to escape the tax burden of their hometowns continue to find the tax benefits offered in Florida a big draw, which helps drive and sustain demand.

“We’ve had a huge influx of buyers from California, New York and Connecticut, and the influx continues. They want what they see here,” Adzem told CNBC.

Adzem also acknowledged that Stark’s renovations have increased the property’s value.

“He didn’t go neutral, he didn’t make the color scheme too bright. He really wanted to make an impact and put his own flavor here,” Adzem said.

It’s unclear exactly how much it cost to transform the house, which was built in 2017, into the new Palazzo di Lago, as Adzem and Stark only described the cost as a “multi-million dollar renovation.”

But Adzem told CNBC that the dramatic renovations and new “James Bond-esque feel” were the final catalyst in attracting buyers willing to pay a premium.

Correction: William Cafaro paid for his new home with $24.5 million in cash. A previous version of this story omitted the million. Home prices rose 53% from 2020 to 2023. Previous versions listed the percentage incorrectly.