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
    Dr. Ernst A. Langner and Nataly Langner with their Palm Beach estate (Compass, Dr. E.A. Langner-Foundation)
    German entrepreneur sells oceanfront Palm Beach estate for $110M
    German entrepreneur sells oceanfront Palm Beach estate for $110M
    Edgar Bronfman Jr. and his Palm Beach home (Getty, 200 Regents / Sotheby's)
    Liquor dynasty scion Edgar Bronfman Jr. buys Palm Beach home for $12M
    Liquor dynasty scion Edgar Bronfman Jr. buys Palm Beach home for $12M
    Jean Francois Roy and renderings of the Fort Lauderdale project (OceanLand)
    Jean Francois Roy plans bulk condo buyout to build multifamily project near downtown Fort Lauderdale
    Jean Francois Roy plans bulk condo buyout to build multifamily project near downtown Fort Lauderdale
     Adam Neumann (Getty, Bal Harbour Florida)
    Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
    Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
    Charlene and the late Ron Esserman with an aerial of the Coconut Grove home (Google Maps, the Miami Foundation)
    Charlene Esserman sells waterfront Coconut Grove home for $15M
    Charlene Esserman sells waterfront Coconut Grove home for $15M
    4412 North Bay Road
    North Bay Road mansion sells for $25M, nearly double its purchase price two years ago
    North Bay Road mansion sells for $25M, nearly double its purchase price two years ago
    Glenn Straub and 2855 Hurlingham Drive (Casino.org, Google Maps)
    Glenn Straub buys Wellington estate for $9M
    Glenn Straub buys Wellington estate for $9M
    1007 West Prospect Road in Fort Lauderdale and 999 West Prospect Road in Oakland Park
    Seattle investors buy Fort Lauderdale, Oakland Park apartment buildings for $7M
    Seattle investors buy Fort Lauderdale, Oakland Park apartment buildings for $7M
    arrow_forward_ios

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

    Loading...