Instagram dream home? Patrick Bet-David pays record $20M for waterfront mansion in Fort Lauderdale
Previous Bay Colony record was $11.5M for a property sold last year
Author and social media influencer Patrick Bet-David paid $20.4 million for a waterfront mansion in Fort Lauderdale, setting a record for the Bay Colony community.
Bet-David and his wife, Jennifer, acquired the six-bedroom, 10,436-square-foot home at 141 Bay Colony Drive, property records show. Vince and Joyce Virga sold the 1.1-acre property. Vince Virga is co-founder and co-chair of SkillStorm, a Fort Lauderdale-based tech employment firm.
The Bet-Davids financed their purchase with a $13.2 million loan from Goldman Sachs, records show.
Tim Elmes of the Elmes Group at Compass represented the buyer and seller. The mansion, with seven bathrooms and two half-bathrooms, a putting green, private beach and saltwater lap pool, was most recently asking nearly $25 million. The house has Calacatta Gold kitchen countertops and a temperature-controlled wine cellar.
The sale beats the previous Bay Colony record of $11.5 million for a property that sold in early 2020. Bay Colony, a community of only waterfront houses, has been home to the late Ray Kroc and the late Dave Thomas, who both made their fortunes in the fast food industry.
The corner property, with 800 feet of waterfront, including a boat slip with a lift, was developed in 2015. The Virgas paid $3.6 million for the lot in 2010.
The buyers sold their home in Plano, Texas to move to South Florida. The couple first moved to Boca Raton, where Patrick Bet-David opened an office for his media company, Valuetainment. He’s also the founder and CEO of a financial firm called PHP Agency and has written books, including “Your Next Five Moves.”
Recent pricey deals in Fort Lauderdale include hotelier Mikhail Avrutin’s sale of a waterfront mansion at 2412 Laguna Drive for $23 million. The former CEO of Rinker Group also recently sold his waterfront home for $6.8 million.