Resi round-up: Waterfront homes and condos selling across South Florida

Top sale in the latest report reached nearly $17M

52 Royal Palm Drive in Fort Lauderdale and Marc Farbstein
52 Royal Palm Drive in Fort Lauderdale and Marc Farbstein (Google Maps, LinkedIn)

CEOs kept busy in July, buying and selling waterfront homes up and down South Florida this month. 

A Michigan-based health tech CEO bought a 1.3-acre ocean-to-lake parcel for $16.5 million in Manalapan. Jorey Chernett, founder of both Clearpath and Authentic4D, bought the teardown at 3060 South Ocean Boulevard from the family of Dr. Gerald Kent Shortz, records show. 

Dr. Shortz, who died last year, was a longtime Manalapan resident, orthopedic surgeon and served as the town’s mayor from 1988 to 2002, according to his obituary. He bought the oceanfront property for $350,000 in his first year as mayor, records show. 

The existing three-bedroom, three-bathroom home was built in 1942 and spans 2,400 square feet. It was advertised as a building opportunity, with the option to build a main house on either the oceanfront or lakefront side, the listing shows. Michelle Newman of William Raveis South Florida had the listing, and Vince Spadea Jr. of Douglas Elliman brought the buyer.

The property listed in November for $17.9 million, according to Redfin. 

Manalapan’s ocean-to-lake estates often attract big name buyers, most notably billionaire Oracle co-founder Larry Ellison. Ellison bought a 16-acre historic compound for $173 million in June last year, which holds the record for Florida’s most expensive residential sale. 

In Fort Lauderdale, smart home tech mogul Marc Farbstein flipped a waterfront home for $11.8 million. Farbstein sold the house at 52 Royal Palm Drive to Michael and Tami Kahn, 10 months after buying it for $9.7 million, according to records.

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Alexander Goldstein of Miles Goldstein Real Estate and Ryan Farbstein of Douglas Elliman had the listing, and Goldstein brought the buyer.

Built in 2020, the 7,700-square-foot house includes five bedrooms, five bathrooms and two-half bathrooms. The property also has a wine room, gym, pool and 100-feet of waterfront, the listing shows. 

Farbstein, who is chairman and CEO of Hollywood-based Premium Digital Control & Automation, listed the house in May for $13.5 million, Redfin shows. 

Many of South Florida’s brokerages are expanding north in Broward and Palm Beach counties, with firms like Fortune Christie’s International Realty particularly focusing on Fort Lauderdale as a growth market. 

On Fisher Island, Sempra Energy CEO Jeff Martin and his wife, Lisa Bicker Martin, flipped their condo in an off-market deal after just nine months. 

The couple sold unit 6831 at 6800 Fisher Island Drive to Dovfam FI 6831 LP, a Delaware entity, for $11.8 million, records show. The buying entity likely belongs to Canadian trash mogul Patrick Dovigi, who frequently buys and sells Fisher Island condos with similarly named companies.

Dovigi, who founded Green For Life Environmental, sold a unit on the island for $20 million earlier this month. 

The Martins bought unit 6831 for $11.2 million in October. Built in 2019, the 3,700-square-foot condo includes three bedrooms and three bathrooms in the 10-story, 50-unit Palazzo Della Luna building. 

Elsewhere in Miami-Dade, former Pepsico CEO and chairman Indra Nooyi and her husband, Raj Nooyi, sold their Grove at Grand Bay condo in Coconut Grove for $11 million, sources confirmed. The deed had yet to be recorded, and the buyer is unknown.

Dora Puig of Luxe Living Realty had the listing, and Chad Carroll of Compass brought the buyer. Nooyi bought unit 1802S at 2675 South Bayshore Drive in 2016 for $6.4 million, records show. 

Built that same year, the 4,800-square-foot unit includes five bedrooms, six bathrooms and one half-bathroom. Nooyi first listed the unit for $12.4 million in January, according to Redfin. 

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