🏆 Residential: The top home sale to hit records was for an equestrian estate at 3351 Grand Prix Farms Drive in Wellington for $17 million. The seller was an LLC tied to Darin S. Goldstein, who had owned the property for decades. The buyer was an LLC managed by David Stewart II, CEO of Lion Forge Animation and son of tech billionaire David Stewart. The property sits within the Grand Prix Village, and the home has six bedrooms and five bathrooms. The last asking price was just under $18 million. Ryan Beckett with BitRealty had the listing, and Robert Scott Fitton with Engel & Volkers Wellington brought the buyer.
🏆 Commercial: Medley recorded the top commercial real estate deal in South Florida. A truck stop, comprising five parcels spanning 207,000 square feet, changed hands for $23.6 million. The seller of 12200 Northwest South River Drive was Sunshine Plaza of South Florida, which had owned the site since 2003. The buyer was an affiliate of LV Petroleum, a gas-station chain based in Las Vegas.
📊 Commercial: Another LLC tied to LV Petroleum acquired another truck stop at 9101 West Okeechobee Road in Hialeah Gardens for $20 million. The seller was a trust tied to Isaura Haddad. The lot spans nearly 159,000 square feet.
📊 Commercial: In Fort Lauderdale, two industrial properties at 3377 Southwest Second Avenue, another industrial building at 222 Southwest 33rd Court and two adjacent vacant plots of land, traded for $11.3 million. The buildings measure a combined 51,100 square feet. The seller was an LLC tied to Steven Baum, and the purchaser was a Dania Beach LLC managed by Daniel Vizel.
By the Numbers: Americans are refinancing again — but not buying
Even as borrowing costs inch higher, Americans are continuing to prioritize refinancing their home mortgages over taking out loans to buy new properties.
In the first quarter, the number of refinancing originations outpaced new purchase loans for the second quarter in a row, according to a TRD Data analysis of Attom loan data. This trend had not occurred since early 2022, when mortgage rates hovered around 3.5 percent but were beginning to climb again.
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