Royal Palm Yacht & Country Club has been East Boca's most exclusive residential address since 1958, when Arthur Vining Davis carved it out of his own land holdings. It sits directly across from the Boca Raton Resort & Club, a short walk from Mizner Park, on deepwater canals with no fixed bridges to the Atlantic. That last detail matters more than anything else here: nearly a third of the roughly 700 estate homes sit on water that can handle a serious yacht, and the private marina and Jack Nicklaus-designed golf course both trade on that same access. Membership is optional, the community itself isn't gated, and it doesn't need to be. HOA dues run around $4,150 a year with no history of special assessments. Forbes has named it one of the country's most exclusive gated communities more than once, gates or not. This is the neighborhood for buyers who measure a home by its dock as much as its square footage.