Pharmaceutical mogul sells Fort Lauderdale estate for $21M

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

TRD 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
Atria Willow Wood

SoFla senior housing developers brace for coronavirus impact

Mayor Dean Trantalis (Credit: Larry Marano/Getty Images)

Restaurants, bars and gyms to shut down immediately in Fort Lauderdale

Gov’t Meetings Canceled or Moved Online Due To Coronavirus (Credit: iStock)

Miami, Miami Beach and Fort Lauderdale cancel city meetings

Coronavirus closures hit South Florida restaurants and stores

Coronavirus closures hit South Florida restaurants and stores

Howard Wurzak’s development firm is suing over delays and defects at the double branded Dalmar and Element hotel

Fort Lauderdale hotel developer sues Tutor Perini, seeking nearly $12M for alleged delays, defects

Joseph P. Thomas, Adam Duncan and Tyler Carbonelli with the Fort Lauderdale properties

California investors buy multifamily portfolio in Fort Lauderdale

Scott Antoniak, Chief Executive Officer of Slate Office REIT, 5900 North Andrews Avenue (Credit: Google Maps)

Toronto REIT to buy Cypress Creek office building for $46M

Cushman & Wakefield’s Scott O’Donnell, Greg Miller, Dominic Montazemi and Miguel Alcivar, with 12 Southeast 7th Street (Credit: Google Maps)

Fort Lauderdale office tower sells for $18M

arrow_forward_ios
Loading...