The Real Deal Miami

Lot once owned by golfer Greg Norman asking $5.3M

Price is $300k less than Norman sold it for in 2015
By Amanda Rabines | August 03, 2017 08:45AM

6017 Le Lac Road Inset: Greg Norman (credit: golfquestinternational.com)

A lakefront lot in Boca Raton, once owned by Australian professional golfer Greg Norman, just hit the market for $5.3 million – $300,000 less than the price he sold it for in 2015.

The Great White Shark’s former 7.5-acre property at 6017 Le Lac Road is now asking $707,000 per acre.

The seller is Elena Temkima, who paid Norman $5.6 million for the lot two years ago. She owns the property under the entity 6017 Le Lac LLC. Norman took back a $2 million mortgage at the time of the sale, records show.

Douglas Elliman’s Senada Adzem has the listing. The average price per acre in the area ranges between $800,000 to $850,000, she said.

“It’s a very aggressive price relative to other properties in Boca Raton,” Adzem said. “You won’t find another lot, besides maybe in Wellington, that has 7 acres and is in such a prime area.”

Norman purchased the property, which had a 10,597-square-foot mansion, for $7 million in 2006 from developer Peter Wolofsky, according to published reports. He tore down the mansion in 2009, Adzem said, and obtained a $15 million loan in 2014 to build a nearly 29,000-square-foot home on the site. Adzem said those plans later changed.

Adzem said she expects buyers from Canada to show interest in the lot. “Palm Beach County has seen an increase in attention from Canadians, in general, anywhere in Boca Raton and Delray Beach,” Adzem said.

Le Lac, a 200-acre gated community, has 32 multi-acre estates, surrounded by 60 acres of interconnecting lakes. Boston Red Sox owner John William Henry II is one of the community’s residents.

Norman also owns an eight-acre compound at 382 South Beach Road in Hobe Sound on Jupiter Island, which he bought for $4.9 million in 1991. It was listed last year for $55 million but is now off the market, according to Realtor.com.