Stiles Corp. CEO Terry Stiles pays $8M for waterfront Fort Lauderdale home

Stiles Corp. Chairman and CEO Terry Stiles and his wife Jamie Stiles paid $8.17 million for a waterfront Fort Lauderdale mansion.

Records show John F. Tenaglia sold the seven-bedroom, 8,238-square-foot home at 1776 Southeast 10th Street to the Stiles family for just less than $1,000 a foot. The couple financed the deal with a $4.9 million mortgage from UBS Bank.

Stiles announced last year that Terry Stiles would be stepping down from his CEO role with his son Ken Stiles taking his place.

The Stiles’ new home has been on and off the market since 2012 when it was listed for $12.9 million. Its asking price was reduced from $11.5 million to $10.25 million in April, according to Realtor.com

It was built in 2001 and sits on corner 0.43-acre lot that fronts the Intracoastal Waterway. The Mediterranean-style estate has a pool, fountain and 300 feet of water frontage. The property last sold for $2 million in 1998.

The house is near the new home of Bruce Paddock, a pharmaceutical entrepreneur and millionaire, who paid $17.2 million or $1,320 per square foot for the property at 1831 Southeast Ninth Street. 

Stiles, based in Fort Lauderdale, has offices in Miami, Fort Myers, Tampa, Orlando and Charlotte, North Carolina. Terry Stiles, who will remain chairman, has led the company for about 45 years. Stiles’ South Florida developments have included The Pointe in Palm Beach Gardens, Biscayne18 in Miami and Coral Landings in Coral Springs and Margate.