Waterfront Fort Lauderdale estate sells for Broward record of $28.5M

Sale beats previous record set in 2015 of about $1M less

1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)
1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)

A waterfront estate in Fort Lauderdale sold for $28.5 million, marking a record residential sale price in Broward County.

Property records show New River Point LLC, managed by Seth and Brad Cohen, sold the 13,800-square-foot mansion at 1122 Southeast Fourth Street to SLB International Estates LLC. The buying entity is managed by Jozsef Szamosfalvi, who represents a hidden buyer.

1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)

1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)

The sellers are co-chairs of Insurance Care Direct, a Deerfield Beach-based family run health and life insurance agency.

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The three-story mansion has seven bedrooms, 11 bathrooms and two half-bathrooms, according to the listing. The 0.6-acre lot includes 250 feet of deep water frontage and a lap pool. Completed last year, the estate has a game room, guest house, gym and spa. It hit the market in January for about $35 million.

1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)

1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)

Designed by architect Stuart Brenner and built by Cannatelli Builders, the mansion is in Sagamore Cove in Las Olas Isles, within walking distance of Las Olas Boulevard.

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1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)

1122 Southeast Fourth Street in Fort Lauderdale (Daniel Petroni Photography, iStock)

The previous record in Broward was the $27.5 million sale of the waterfront estate at 5 Harborage Isle Drive in 2015. Former foreclosure king David J. Stern sold that mansion to financier Donald Sussman.

In addition to setting a record countywide, the recent $28.5 million deal marks a per-square-foot record in the Las Olas neighborhood, said listing agent Tim Elmes of Compass.

Thomas Pichet of Globalty Investment represented the buyer. Pichet said the buyer is from Europe, but declined to name his client. He said they looked at large modern homes in Fort Lauderdale, Miami and Miami Beach.

Pichet said the buyer is looking to spend more time in the U.S. amid concerns with the war in Ukraine. “I have more and more clients in this situation,” he said.

Elmes said the buyer’s offer marked the “first viable acceptable cash offer” for the property, which is nearly completely furnished.

“The buyers today, especially if they’re not from here, will pay a premium for turnkey,” Elmes said.