Pompano Beach site sells for $10.5M

An oceanfront site in Pompano Beach has traded for $10.5 million — 144 percent more than it sold for six years ago.

Back in 2008, the 2.1-acre site at 730 North Ocean Pompano was purchased for $4.3 million. The buyer was an affiliate of Boca Raton-based The Herrick Co., led by Norton Herrick, according to the South Florida Business Journal.

Now, the property, located along Northeast Seventh Court on both the east and west side of North Ocean Boulevard, has sold in an all-cash deal to Fernbrook Florida, an affiliate of Canada’s Fernbook Homes, which develops communities across Canada. [SFBJ] – Christopher Cameron