Record-Breaking $70 Million Sale Sets New Benchmark for Fort Lauderdale, FL Luxury Residential Real Estate

Michelle Howland

Fort Lauderdale, FL –– Fort Lauderdale's reputation as a premier luxury real estate market is cemented by the sale of a stunning waterfront estate for a record-breaking $70 million. 

5 Harborage Isle, Fort Lauderdale, FL

Located at 5 Harborage Isle at the intersection of the Intracoastal and the New River, the estate offers 1,035 linear feet of waterfront and boasts two homes on 2.7 acres of land. The 20,000 sq ft main residence features six bedrooms,11 bathrooms and a seven-car garage while the guest house offers four bedrooms, 4.5 bathrooms and a three-car garage.

 

The new owner plans to re-do the main estate for a new, more modest home to be built on the property.

 Tim Elmes

The Elmes Group of Compass Florida represented the buyer in this historic transaction, while Michelle Howland, LLC represented the seller in the original purchase and sale of the estate.

 

Notably, The Elmes Group has brokered the sale of this property six times since 1990.

 

“We are thrilled to have been involved in these record transactions over the years,” said Tim Elmes of The Elmes Group. “This home is truly one-of-a-kind, offering unparalleled luxury and privacy.” 

 

The seller, financier and philanthropist Donald Sussman, purchased the home in 2016 for a then-record-breaking $27.5 million. “It’s a very special property,” said Sussman. “It’s heartening to know that it will be well-stewarded by its new owners.”

 

As Fort Lauderdale continues to attract discerning buyers from around the world, this record-breaking sale further solidifies its position as a leading luxury real estate market. 

Donald Sussman

"Fort Lauderdale's status as a sought-after destination for affluent buyers is cemented by this extraordinary sale,” said Elmes. “The city's capacity to provide an exceptional level of luxury and sophistication is evident in its ability to attract such high-profile transactions."

 

The Elmes Group has multiple other properties available between $2 million and $50 million and have been negotiating multiple all cash offers on a couple of homes between $40 and $50 million range, indicative of strong continued demand in the Fort Lauderdale luxury space.

 

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Jessica Shein

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jshein@boardroompr.com

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