The most expensive home in Tampa Bay slashes $5 million from asking price

The only home in Tampa Bay to share a property line with Caladesi Island State Park recently slashed $5 million from the asking price late last year—and was still the area’s most expensive listing. Now it’s off the market.

Located at 1198 Mandalay Point, the waterfront home was built in 1987 by Des Moines, Iowa transplants Edwin “Ed” Hunter and his wife Carolyn, who owned the regionally famous Hiland Potato Chip company until it was sold in 1988, as well as the historic Clearwater Beach Hotel, and quite other few real estate and commercial developments.

Arguably the most remarkable aspect of the Hunter house is the location. The 3,434-square-foot home sits on over 42 acres of private property on the northernmost tip of Clearwater Beach, and is the only home that can say it shares the same patch of sand with Caladesi Island State Park.

Perched 20-feet above sea level, the home comes with three bedrooms and four bathrooms, all with water views. It also features an atrium with 20-foot ceilings, a heated lap pool, dockage on Dunedin Pass, and more than likely the most private beach in all of Pinellas County.

Originally listed on Monday, Feb. 26 with a record asking price of $37.5 million, the home saw a $5 million price cut on Dec. 9, 2024, taking it down to $32.5 million.

Even with the steep discount, if sold at this price, the Hunter home would have been the most expensive ever sold in Tampa Bay, dwarfing Derek Jeter’s former Davis Islands house, which sold in 2022 for a record $22.5 million.

The Pinellas Property Appraiser says the home is owned by EJH Investments SD LLC.

Every house has a story, and our mission is to tell Tampa Bay’s story through the lens of our community’s historic and colorful homes. Creative Loafing Tampa Bay’s real estate features are not ads, and are strictly operated through our editorial department. But we love public input. Do you know of a unique Florida home that we should highlight? Let us know, and email cwolf@cltampa.com.