Pharmaceutical mogul auctions Lauderdale mansion

The seller bought another Fort Lauderdale mansion earlier this year for $17.16 million

Jul.July 09, 2016 03:15 PM

Bruce Paddock, who made his fortune in the pharmaceuticals industry, auctioned a Fort Lauderdale mansion in Las Olas Isles spanning almost 15,000 square feet.

Platinum Luxury Auctions conducted the June 30 auction of the residence at 828 Solar Isle Drive in Fort Lauderdale.

The president of Platinum, Trayor Lesnock, told the Sun-Sentinel in an email that the sale price and buyer’s name would be announced after the deal closes in about a month.

Lesnock also told the newspaper the winning bid was far in excess of the $4 million reserve price.  Nine registered bidders participated in the auction.

The property had been listed for sale with an asking price of $10 million. It was built in 2004 by Dick Yeungling, who got rich from the beer bearing his family’s name.

The residence has a fitness center, a home theater, a four-car garage, six bedrooms and a wine room with storage for 2,000 bottles.

Earlier this year, Paddock paid $17.16 million for a waterfront mansion on a corner lot at 1831 Southeast 9 Street in Fort Lauderdale.

Paddock is the founder and former chairman of Paddock Laboratories, a pharmaceutical manufacturer he sold to the Perrigo Company in 2011 for $540 million. [Sun-Sentinel] — Mike Seemuth

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