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Once king of foreclosures, David Stern sells Hillsboro Beach estate
The disbarred lawyer sold the house after buying it for $8M in 2008
UPDATED, June 17, 1:15 p.m.: Florida’s former foreclosure king sold a home in Hillsboro Beach for $10 million.
David J. Stern, a disbarred lawyer, sold the 5,275-square foot home at 925 Hillsboro Mile for $1,896 per square foot, records show. Thomas O. Katz of Boca Raton bought the home.
Stern had paid $8 million for the home in 2008, according to records.
The waterfront house has four bedrooms and four-and-a-half bathrooms and has more than 100 feet of ocean frontage. The home was built in 1986 and sits on a 1.5-acre lot, according to realtor.com. Records show Stern did not have a homestead exemption on the property, indicating it likely was not his primary residence.
Todd Kirkpatrick of Whitaker Real Estate represented the buyer. Michelle Howland of Compass represented the seller.
Stern was disbarred by the Florida Supreme Court in 2014 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.
In 2015, Stern sold his massive Fort Lauderdale mansion at 5 Harborage Isle Drive for $27.5 million.
The small town of Hillsboro Beach is home to some of the priciest residential properties in South Florida.
In 2017, Patrón Spirits Company CEO Edward Brown paid $20 million for a spec home at 1115 Hillsboro Mile. In 2018, a nearly 14,000-square-foot mansion at 995 Hillsboro Mile sold for $15 million.
Correction: A previous version of this story incorrectly reported the sale price and the price per square foot.