Retired racing driver Michael Andretti paid $27.4 million for a waterfront compound in Fort Lauderdale, marking one of the priciest home sales in the city over the past year.
Andretti is the son of racing legend Mario Andretti.
Michael Andretti and his wife, Jodi Ann Andretti, acquired the 17,812-square-foot mansion at 2900 Northeast 37th Street from repo king Patrick K. Willis, property records show. Willis owns El Dorado Hills, California-based American Recovery Services, one of the largest auto repossession firms and debt collectors in the country.
The nine-bedroom, 15-bathroom home returned to the market last year for $39 million, which means it sold for 30 percent off the asking price. But Willis fared well — he paid just $12.5 million for the mansion in 2021. The house was built in 2005 on a 1.1-acre lot with 665 feet of water frontage.
It was listed with Premier Estate Properties’ Karson Dietrich. R.J. Spadaro of Realty 100 Associates represented the seller, according to Redfin.
Dietrich said the estate is “one of the most amenity rich properties in all of Fort Lauderdale.” It has three-phase mega-yacht power, which is comparable to a commercial marina, according to Dietrich. The home also includes a resort-style pool, a wellness wing with a gym, spa and solarium, staff quarters and a seven-car garage.
Andretti won 42 races before he retired in the early- to mid-2000s and owns Andretti Autosport, an IndyCar-winning team. His son, Marco Andretti, is an IndyCar Series driver.
A few big-ticket deals have closed recently in Fort Lauderdale, which is often overshadowed by competing markets in Palm Beach and Miami Beach. In April, developer Louis Paolino Jr. sold the house at 2626 Delmar Place in Fort Lauderdale to an LLC managed by Paul D. DeAngelo for $27.8 million.
In September, financier Donald Sussman sold his waterfront mansion in Fort Lauderdale for $70 million. The sale holds the price record for home sales in the coastal city. Sussman sold the 20,000-square-foot, 10-bedroom, 15-and-a-half bathroom estate at 5 Harborage Isle to a Delaware LLC named after the 2.7-acre property. It has 1,035 feet of water frontage.
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