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

Miami /
Jun.June 10, 2021 03:30 PM
Patrick Bet-David and (inset) Vince Virga with the property (Twitter)

Patrick Bet-David and (inset) Vince Virga with the property (Twitter)

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.





    Related Articles

    arrow_forward_ios
    Residential sales fall in Southern Florida
    Residential sales fall in April across South Florida
    Residential sales fall in April across South Florida
    Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
    Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
    Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
    From left: Stephen Macricostas and Andre Branch in front of 4535 Nautilus Court (Getty Images, Redfin)
    Buyer of Andre Branch’s former Miami Beach house flips it for $7M
    Buyer of Andre Branch’s former Miami Beach house flips it for $7M
    Lennar's Eric Feder with 4042 Island Estates Drive (The Carroll Group, Lennar)
    Lennar’s Eric Feder sells waterfront Island Estates home in Aventura for record $12M
    Lennar’s Eric Feder sells waterfront Island Estates home in Aventura for record $12M
    Trippie Redd with 5600 Southwest 136th Avenue (Getty, iStock, Richard Lopez of Lopez Productions, Illustration by Shea Monahan for the Real Deal)
    Rapper Trippie Redd buys Southwest Ranches estate
    Rapper Trippie Redd buys Southwest Ranches estate
    Black Lion Investments' Robert Rivani and the Ritz-Carlton Residences at 4701 North Meridian Avenue in Miami Beach (Ritz-Carlton Residences, Black Lion Investments)
    Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
    Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
    Emilio and Gloria Estefan with 444 West Rivo Alto Drive (Getty, Redfin)
    Gloria and Emilio Estefan sell waterfront Venetian Islands home
    Gloria and Emilio Estefan sell waterfront Venetian Islands home
    Michele and Kevin Segalla and Ilya Karpov with 320 Hibiscus Drive (LinkedIn, Craig Denis) Miami, Mansions
    Mobile gaming tycoon, investment manager wife pay $29M for Hibiscus Island spec mansion
    Mobile gaming tycoon, investment manager wife pay $29M for Hibiscus Island spec mansion
    arrow_forward_ios

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

    Loading...