The Celebration estate home was the community's first $2 million home sale in 2016.
The Celebration estate home was the community's first $2 million home sale in 2016. (Jeremy Flowers / Nectar Real Estate)

Estate homes in Kissimmee's Celebration community routinely top $1 million. But even on the toniest streets, $2 million home sales are rare.

Star Magnolia, a 6,159-square-foot red brick mansion on the 700 block of Eastlawn Drive, became the first for 2016, selling May 26 for $2.1 million.

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"Typically only a couple of homes a year sell for more than $2 million," real estate agent Jana Renner told GrowthSpotter. Her firm, Nectar Real Estate, specializes in Celebration estate homes and currently has a half dozen listings at that price point.

"For a while people were really looking for a deal, but that's over," Renner said. "Now we see a lot of clients who want cache, and they're willing to pay a premium."

Water and conservation views to the front and rear of the property give Star Magnolia are level of privacy that is rare in Celebration.
Water and conservation views to the front and rear of the property give Star Magnolia are level of privacy that is rare in Celebration. (Jeremy Flowers / Nectar Real Estate)

Eastlawn Drive, which is walking distance to the town center, is one of the most desirable streets in the master planned community.

"The biggest thing about this property was that it has water views in the front and back," Jenner said. "Celebration is kind of known for having small lot sizes, so to not have a front or back neighbor is a big deal."

Built in 2004, the colonial-style house features six bedrooms -- including two master suites -- and a guest suite over the garage. It has a gourmet kitchen with a huge center island, upstairs and downstairs laundry rooms, pool and three-car garage.

The large kitchen and neutral decor helped Star Magnolia fetch a $2.1 million selling price.
The large kitchen and neutral decor helped Star Magnolia fetch a $2.1 million selling price. (Jeremy Flowers / Nectar Real Estate)

"It's very well-maintained and neutral," Jenner said. "There wasn't anything about it that when you walked in you'd say, 'Oh, I have to change that.'"

The buyers were Flavia Velten Rangel Palombini and husband Lamberto Palombini Neto, the latter being president of Grupo Proeng S.A., a firm active in engineering, developing and building large condo-apartment buildings, shopping centers and hotels in Brazil.

Reporter Bob Moser contributed to this report. Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407)420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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