Steel mogul sells Hillsboro Beach estate to casino owner for $15M

Beachfront property sold at a 7.2 percent discount off the ask

TRD MIAMI /
Mar.March 01, 2017 02:20 PM

The head of a Quebec-based steel company just sold his Hillsboro Beach home for $14.61 million to a Russian casino owner.

Records show Kurt J. Langsenkamp, president of Canam Steel Corporation, sold the beachfront estate at 973 Hillsboro Mile to Maxim Smolentsev, who reportedly owns the Shambala casino in Azov, Russia.

The five-bedroom, 10,432-square-foot mansion hit the market in July for $15.75 million, listing agent Joseph G. Liguori of Premier Estate Properties told The Real Deal. He said the deal closed Wednesday morning, but declined to comment further citing a confidentiality agreement. Lana Izgarsheva of Miami VIP Realty represented the buyer. She could not immediately be reached for comment.

The property sold at a 7.2 percent discount off the ask.

973 Hillsboro LLLP, controlled by Langsenkamp and his wife Elizabeth, paid $8.5 million for the home in 2010, a year after it was built.

The Intracoastal-to-beach property features a pool, oceanfront terraces with Italian marble, a summer kitchen and a gated, 70-foot dock with a 30,000-pound boat lift. It sits on a 27,475-square-foot lot.

Hillsboro Beach, which is sandwiched between Pompano Beach and Deerfield Beach, is also home to Le Palais Royal, the second most expensive home for sale in the U.S. asking $159 million. Recent sales in the luxury enclave include the property at 1079 Hillsboro Mile, which traded hands for $7.5 million in December. In July, South Florida auto magnates Rick and Rita Case sold their nearby property at 949 Hillsboro Mile.


Related Articles

arrow_forward_ios
23 Tahiti Beach Island Road and 4965 Southwest 82nd Street

Cuban coffee mogul trades waterfront Tahiti Beach mansion for Ponce-Davis estate

Cuban coffee mogul trades waterfront Tahiti Beach mansion for Ponce-Davis estate
Dave Folsom, president & CEO of Sotherly Hotels, and the DoubleTree Resort by Hilton Hollywood Beach at 4000 South Ocean Drive (Credit: Google Maps)

Hollywood DoubleTree’s $59M CMBS loan enters special servicing

Hollywood DoubleTree’s $59M CMBS loan enters special servicing
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Kevin R. Kreutzfeld of Premier Estate Properties and 1408 West Lake Drive

Waterfront home in Fort Lauderdale’s Harbor Beach sells for $11M

Waterfront home in Fort Lauderdale’s Harbor Beach sells for $11M
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
3621 South Ocean and Corcoran's Jennifer Kilpatrick

Sean Posner, partners sell new Highland Beach townhouses for $12M

Sean Posner, partners sell new Highland Beach townhouses for $12M
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
arrow_forward_ios

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

Loading...