The Real Deal Miami

Bay Colony home sets price-per-square-foot record

Newly constructed Fort Lauderdale property sold for $625 psf

July 17, 2015 06:00PM

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80 Compass Lane, Bay Colony, Fort Lauderdale

A newly constructed home in Fort Lauderdale’s Bay Colony has just sold for $5 million, marking the highest price per square foot in the neighborhood, The Real Deal has learned.

The 8,000 square-foot home at 80 Compass Lane, on the Intracoastal, sold for $625 per square foot.

Gilles Rais, of the Gilles Rais Fine Homes Team with Coldwell Banker Residential Real Estate’s Las Olas office, had the listing. The buyer was not disclosed, and the sale has not yet hit property records.

The site was last purchased for $1.35 million in 2004 by H&H Partners LLP, led by builder Harry Hollub, according to public records.

The contemporary home, built by Hollub Homes, has five bedrooms, five-and-one-half-bathrooms, with a 103-foot concrete dock and direct ocean access. The home includes a 400-bottle wine room, a 50-foot salt water pool with tanning ledge, summer kitchen, elevator and three-car garage.

Additional features of the home include a floating stainless steel and glass staircase, marble and solid walnut floors, chef’s kitchen with Wolf and Sub Zero appliances, custom millwork and stained cypress wood ceilings in the outdoor areas and smart home technology.

Bay Colony provides 24-hour guard gate and security patrol, is less than a mile to the beach, and near golf courses, tennis and yacht clubs.

“This is not just a top dollar closing in a strong market, it’s also a clear indicator of the direction of Fort Lauderdale luxury real estate in both style and price,” Rais said in a statement.  — Ina Cordle