Fort Lauderdale Luxury Real Estate Market Update

Posted by Eric Miller on Sunday, February 28th, 2016 at 1:53pm.

Most expensive Waterfront Home Ever Sold in Fort Lauderdale

Just the other day we discussed the most affordable Waterfront homes of Fort Lauderdale in a neighborhood called Lauderdale Isles it seems appropriate that we follow it up with a story reporting about the most expensive waterfront home sold in the Fort Lauderdale real estate market.  In addition to being the highest priced Fort Lauderdale waterfront to sell this property at 5 Harborage Isle Drive will be one of those Fort Lauderdale real estate landmarks that tour boats like the Jungle Queen and the Fort Lauderdale water taxi will tell stories about as they pass for years to come. In addition to being the most expensive piece of residential real estate ever sold in the Fort Lauderdale real estate market this incredible waterfront estate of Fort Lauderdale was the home to the former foreclosure lawyer David Stern who was disbarred for supposedly allowing his firm to mishandle the foreclosures of many properties during the South Florida real estate crisis.  There is no reason to think that the sale of 5 Harborage Isle was part of a hardship for the foreclosure attorney, as some would like to see it as sweet justice, but the home was bought for $8 million in 2009, and sold for $32 million in the recent sale.

Harbor Beach Fort Lauderdale

Harborage is a guard gated community at the end of Harbor Beach in one of Fort Lauderdale’s most exclusive neighborhoods. 5 Harborage is described in the Fort Lauderdale MLS listing, as 17,000 square feet, with six bedrooms, five fireplaces, its own theater and tennis court all sitting on a point lot that could house the world’s largest mega yachts. Prior to this sale the highest home sold in Fort Lauderdale’s Luxury Real Estate market was 17 million. It is unlikely that the new record will stand for long as much attention is being paid to the most luxurious home of Fort Lauderdale from Fort Lauderdale Real Estate buyers all over the world. Fort Lauderdale’s finest homes still look like a bargain compared to prices we see in Miami just 32 miles to the south.

Though not in the Fort Lauderdale, further north in Broward County there is currently a home at 935 Hillsboro Mile listed for $159 million dollars. At almost 20,000 square feet, the seven bedroom, seven bath home will someday be the most expensive residential real estate sale in the area.  People familiar with the drive through Hillsboro will easily remember these mansions and this property sits on almost three acres and included waterfront on both the ocean and the intracoastal, something impossible do anywhere else in Broward County but Hillsboro.

So where did the owner of  5 Harborage move to after the sale of the property ?Nobody is talking about that, but they are very will to talk about the fact that the man who’s firm processed over 70,000 foreclosures is now an investor in the Five Guys franchise in South Florida and has clearly moved on to his next success story,

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

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