Larry Mastropieri on Why Delray Beach Is the Best Long-Term Luxury Investment in South Florida Right Now

Written by:

Heather Hook

Date:

04 Aug 2026

KeyCrew Studio

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Ask Larry Mastropieri where he’d put money in South Florida today, and he doesn’t hedge. Backed by a 150+ property investment portfolio of his own and a RealTrends ranking among Florida’s top agents, Larry has spent years buying, selling, and holding in Delray Beach, and his conviction on the market is as strong as ever.

If Larry Mastropieri Had $3 Million to Invest in South Florida Today, Would It Go Into Delray Beach?

For Larry, the math depends on the goal. A buyer looking to hold long-term (a primary or secondary residence they intend to keep for years, maybe eventually relocating down permanently) is exactly who should be buying in downtown Delray right now, even with prices where they are. In pockets like Palm Trail, that $3 million range lands squarely between what a long-term holder pays for a finished home and what a developer pays to buy, knock down, and rebuild. It can feel late to call this “buying early,” given how much cheaper things were 15 years ago, but with the amount of development still ahead, it’s still early relative to where the neighborhood is headed. This is a market built for appreciation, not immediate cash flow, and buyers who understand that distinction are the ones who do well here.

What Is the One Thing About Delray’s Long-Term Trajectory the Market Hasn’t Priced In Yet?

Development compounds. Every new project brings more people, more restaurants, more energy, and it becomes self-fulfilling: the comps lag behind. Downtown Delray has that energy right now, and the surrounding streets haven’t fully caught up to where that pulls values. That’s the piece people consistently underestimate.

Pompano Is Having Its Moment. Boca Is Established. Why Delray, Why Now?

Pompano is exciting but still early; The Pomp is going to be a major project, but it’s a bet on a 223-acre development that’s mid-build. Boca is established, which means buyers are largely paying up for what’s already there. Delray is the sweet spot. Downtown is on fire, with something new happening seemingly every time you drive through. There’s real money pulling west along Billionaire’s Row, a beach that keeps getting voted the best in South Florida, and corridors like Congress Avenue still turning over. Buying in Delray right now means buying into momentum that isn’t fully baked into prices yet.

What Type of Buyer Is Consistently Wrong About Delray Beach?

The buyer who assumes Delray only means walkable, beachside downtown, and writes off everything west as a result. Look at Stone Creek: it’s 20 to 30 minutes from the sand out in west Delray, and it’s asking $85 million. Buyers underestimate how much value is being created inland, away from the water, because they’re anchored to an outdated idea of where Delray’s money lives. The map is bigger than most people think.

What’s the Conversation Larry Mastropieri Keeps Having With Clients Sitting on the Fence About Delray?

It usually comes down to some version of “I’ll wait for it to cool off.” Larry’s answer: this market is growing by the minute, so what exactly are you waiting for? Downtown is getting stronger, not weaker, and the longer a buyer sits, the more they pay to get in later. That doesn’t mean overpaying for the sake of urgency (Larry will be the first to flag when something is priced wrong), but betting against Delray’s momentum right now is a tough way to make money.

Considering a long-term investment in Delray Beach? The Mastropieri Group brings an investor’s perspective and deep local roots to every deal. View current listings in Delray Beach or explore all the cities and neighborhoods The Mastropieri Group covers across South Florida.

Disclosure: Individuals or companies mentioned may have a commercial relationship with KeyCrew.