The Real Deal Miami

Today’s priciest new listing

$19.9 million Fort Lauderdale compound hits the market
By Sarabeth Sanders | June 02, 2011 06:39PM

The listing for 512 Seven Isles Drive proclaims the waterfront Mediterranean estate “one of the most gorgeous properties in Fort Lauderdale,” and while that may be a matter of opinion, it is certainly one of the priciest.

The $19.9 million compound, just off of the tony Las Olas Boulevard, was assembled by the current owner over the better part of the past decade and hit the market today. Spanning 595 feet on the Intracoastal Waterway, the estate contains an eight-bedroom, 19,000-square-foot main house, five-bedroom guest house, two pools and an eight-car garage with an en-suite car wash.

The owner, unsurprisingly, is a “major car collector,” said listing broker Susan Rindley of One Sotheby’s International Realty, who declined to identify him by name but said he made his fortune during the dotcom boom and now splits his time between Florida and California. Some of the cars currently in the garage are worth more than $1 millions each, she said.

According to Broward County tax records, the main house, No. 512, was purchased for $5.4 million in 2000. Seven years later, the guest house, No. 509, was acquired for $4.95 million. Rindley said both properties have since been entirely redone.