Ex-foreclosure king sells Fort Lauderdale manse for $28M

Miami /
Dec.December 24, 2015 10:30 AM

David J. Stern, known as Florida’s ex-foreclosure king, just sold his Fort Lauderdale mansion for $27.5 million — a hefty discount from what he listed it for in September.

The disbarred lawyer and his wife Jeanine Stern had listed their sprawling waterfront estate for $32 million a little over three months ago. Their home at 5 Harborage Isle Drive has six bedrooms, nine bathrooms and sits on an oversized 1.4-acre lot on the corner of a small island.

As a result of its corner perch, the home has 505 feet of water frontage. That can fit any boat up to a 300-foot megayacht.

Some of the 17,036-square-foot mansion’s features include hardwood floors throughout, wide rotunda entrance with a double staircase to the second story, marble bathrooms and 24-foot windows in the central living room. Oh, and it has its own tennis court on the estate’s eastern side.

The buyer is the 888 Property Trust, which is managed by Jeffrey L. Greenberg of law firm Greenberg & Strelitz. Its true owner is unknown, though county records show the buyer didn’t take out any financing. That means he or she paid $1,614 per square foot in cash.

Dennis Stevick, Michelle Sorrentino and Dale Atkins of One Sotheby’s International Realty had the listing.

David J. Stern was disbarred by the Florida Supreme Court last year for his Plantation-based firm’s alleged misconduct. The company at one time had a caseload of 200,000 foreclosures statewide, swelling Stern’s practice to 1,200 employees during its peak.

Earlier this year, he was hit with a $2 million lawsuit over unpaid debts to a process serving company that worked with Stern’s firm during its heyday.


Related Articles

arrow_forward_ios
1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)
Waterfront Fort Lauderdale estate sells for Broward record of $28.5M
Waterfront Fort Lauderdale estate sells for Broward record of $28.5M
Julie Jones (Florida Luxurious Properties)
Top Broward broker Julie Jones joins Douglas Elliman
Top Broward broker Julie Jones joins Douglas Elliman
409 Southeast Eighth Street in Fort Lauderdale with Related Group CEO Jorge Pérez and President Jon Paul Pérez and Henry Pino, principal at Alta Development (Google Maps, Alta Development)
Jorge Pérez’s Related, Henry Pino pay $15.5M for Fort Lauderdale dev site
Jorge Pérez’s Related, Henry Pino pay $15.5M for Fort Lauderdale dev site
(left to right) Nuveen's Mike Nuveen with 800 Waterford Way and Pebb Enterprises' Ian Weiner with 5355 Town Center Road (CoStar, Nuveen, TVS Design, Pebb)
Lease roundup: Nuveen nabs fintech tenant in Miami, Brookfield scores 20 leases at Boca’s Mizner Park
Lease roundup: Nuveen nabs fintech tenant in Miami, Brookfield scores 20 leases at Boca’s Mizner Park
The Boring Company's LVCC Loop under the Las Vegas Convention Center (The Boring Company, Getty)
Fort Lauderdale to pay Elon Musk’s company to study tunnel plan for the city
Fort Lauderdale to pay Elon Musk’s company to study tunnel plan for the city
(left to right) Integra Investments' Nelson Stabile, Victor Ballestas, and Paulo Melo with the Ocean Park project (Integra Investments)
Integra scores approval for Ocean Park hotel and condo project in Fort Lauderdale
Integra scores approval for Ocean Park hotel and condo project in Fort Lauderdale
Aimco's Wes Powell  and 901-927 North Federal Highway (LoopNet, Aimco)
Aimco drops $64M for mixed-use dev site in Fort Lauderdale’s Flagler Village
Aimco drops $64M for mixed-use dev site in Fort Lauderdale’s Flagler Village
A rendering of the massive mixed-use project planned at 300 Northeast Third Avenue in Fort Lauderdale (ODA)
Brooklyn developer plans 1,100-unit Fort Lauderdale project
Brooklyn developer plans 1,100-unit Fort Lauderdale project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...