Combined Purchase Price: $13,950,000
Hillsboro Beach, FL – Sale by Order of the United States Bankruptcy Court
Represented the Debtor as Broker and Auctioneer and marketed the properties. Ocean to Intracoastal property on a rare +/- 3.35 acre lot with +/-340 feet of beach frontage and +/- 340 feet of Intracoastal frontage for the mega-yacht enthusiasts minutes to the Hillsboro Inlet. One of the last opportunities to own significant acreage on South Florida’s prestigious Hillsboro Mile and the ultimate ultra-luxury estate compound. Incredible subterranean potential with +/- 16′-17′ grade perfect for an underground garage for the connoisseur collector.
Summary: An auction was conducted for these properties and others involved with the Debtor’s estate. Although the auction did not result in a sale, SVN Moecker followed through and was able to negotiate two contracts for the two vacant residential lots.The highest offer for the single-family lots at the auction was $12 million. The Debtor did not accept the highest bid at the conclusion of the auction. SVN Moecker continued to aggressively market the property which resulted in the sale of 1103 Hillsboro Mile for $8,475,000 and the sale of 1107 Hillsboro Mile for $5,475,000 to two separate unrelated buyers. The sale was approved by the Court at the Sale hearing.