Pharmaceutical mogul sells Fort Lauderdale estate for $21M

It marks the highest priced property sale in Fort Lauderdale this year

Miami /
Feb.February 25, 2020 02:30 PM
From left: Tim Elmes of Compass, Barry Minoff and 1831 Southeast 9th Street

From left: Tim Elmes of Compass, Barry Minoff and 1831 Southeast 9th Street

A pharmaceutical mogul sold his waterfront Fort Lauderdale mansion for $20.5 million, marking the highest priced residential sale in the city so far this year.

Bruce Paddock sold the 12,938-square-foot estate at 1831 Southeast 9th Street for $1,584 per square foot, records show. Barry Minoff, whose family owns Cleveland, Ohio-based Kichler Lighting, bought the property.

The sale reflects heightened demand for luxury waterfront real estate in Fort Lauderdale. Earlier this month, two houses sold in the Harbor Beach neighborhood for $8 million and $11 million.

In the latest deal, the mansion was listed for $29 million in October. It was built by Dennis R. O’Neil, the co-owner of Checkerboard Vineyards, who paid $4.6 million for the acre-sized property in 2000.

1831 Southeast 9th Street

1831 Southeast 9th Street

Built in 2010, the home has seven bedrooms and eleven bathrooms. The property also has 437 feet of deep water frontage and 170 feet of mega yacht dockage. It is in the Rio Vista neighborhood close to downtown Fort Lauderdale.

The estate boasts a fully equipped chef’s kitchen, formal dining room and a master suite with a marble bathroom. It also features limestone floors, beamed ceilings, a wine cellar, elevator and fireplace.

Tim Elmes of Compass represented the seller in the deal.

Paddock is the founder and former chairman of Paddock Laboratories, a pharmaceutical manufacturing company that he sold to Perrigo Company in 2011 for $540 million.

Minoff is the chairman of his family’s business, Kichler Lighting, which manufactured lighting. He is also an actor and starred in the 2013 movie “Exposure,” alongside Corey Feldman.

Last year, Fort Lauderdale saw a slew of high-profile deals. In June, the founder of Pet Supermarket bought the Fort Lauderdale estate of the late H. Wayne Huizenga at 1575 Ponce de Leon Drive in Fort Lauderdale for $14.3 million.

In May, used car dealer Mark and Eileen Fisher paid $17.4 million – including the buyer’s premium – for the 27-room, 17,000-square-foot mansion at 534 Bontona Avenue in Fort Lauderdale.


Related Articles

arrow_forward_ios
Rendering of 160 Marina Bay with Fortune CEO Edgardo Defortuna and Ron Krongold (160 Marina Bay)
Midtown Miami developer launches waterfront Fort Lauderdale condo project
Midtown Miami developer launches waterfront Fort Lauderdale condo project
Glenn C. Rice and 2700 Aqua Vista Boulevard, Fort Lauderdale (Linkedin, Google Maps)
Pharma exec sells Fort Lauderdale waterfront mansion for nearly $13M
Pharma exec sells Fort Lauderdale waterfront mansion for nearly $13M
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
Nautical Ventures Marine CEO Roger Moore and Holman Automotive CEO Brian Bates with 1400 South Federal Highway (Google Maps)
Holman sells former Fort Lauderdale BMW dealership for $6M
Holman sells former Fort Lauderdale BMW dealership for $6M
David Cassidy and 1600 South Ocean Drive in Fort Lauderdale (Getty)
David Cassidy’s former Fort Lauderdale home sells
David Cassidy’s former Fort Lauderdale home sells
ICM CEO Bruce Timm and HS Capital Fund CEO Harry Spitzer with 1901 West Cypress Creek Road, Fort Lauderdale (Google Maps)
HS Capital buys Fort Lauderdale office building for $18M
HS Capital buys Fort Lauderdale office building for $18M
Orianne Collins and 34 Isla Bahia Drive (Getty, Google Maps)
Phil Collins’ ex-wife buys waterfront Fort Lauderdale mansion amid legal battle
Phil Collins’ ex-wife buys waterfront Fort Lauderdale mansion amid legal battle
Robert Palmisano and 2623 Delmar Place (Wright Medical)
Healthcare CEO buys waterfront Fort Lauderdale mansion for $9M
Healthcare CEO buys waterfront Fort Lauderdale mansion for $9M
arrow_forward_ios

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

Loading...