Financier Donald Sussman sold his waterfront mansion in Fort Lauderdale for $70 million, setting a record for the coastal city.
Sussman sold the 20,000-square-foot, 10-bedroom, 15-and-a-half bathroom estate at 5 Harborage Isle to an undisclosed buyer, according to a press release. The 2.7-acre property has 1,035 feet of water frontage on the Intracoastal Waterway and the New River. It hit the market last year for $98 million.
Sussman is founder and chairman of Paloma Partners Management Company, a Greenwich, Connecticut-based hedge fund.
The Fort Lauderdale property includes a main estate, a guest house and a three-car garage. The buyer plans to demolish the main house and build a new home on the property, according to the release. The property also includes a pool, tennis court, playground and solar panels. It was built in 2007.
Tim Elmes’ Elmes Group of Compass represented the buyer. Michelle Howland, Sussman’s wife, represented herself and her husband through her company.
Sussman paid $27.5 million for the property in 2016, according to the release. In late 2022, Sussman sold a waterfront lot a few isles away for $17 million to a Texas-based aerospace executive.
Sussman’s latest sale beats the previous record held by the $40 million trade of the mansion at 3052 North Atlantic Boulevard in Fort Lauderdale nearly a year ago. Elmes represented the seller in that deal as well.
Sales have started to pick back up again following a summer slowdown across South Florida, though fewer of the big ticket sales have been in Fort Lauderdale over the past year.
About a year ago, soccer superstar and Inter Miami player Lionel Messi paid $10.8 million for a waterfront mansion in Fort Lauderdale’s Bay Colony. His teammates have also purchased homes in Bay Colony and the nearby Sea Ranch Lakes. Earlier this year, Inter Miami’s Luis Suárez paid $11.5 million for a home near Messi’s.
