Huizenga’s New River estate sells for $16M

A little more than a year after the death of billionaire H. Wayne Huizenga, the waterfront estate on Fort Lauderdale’s New River that he once called home has found a buyer who agreed to pay more than $16 million for the showcase property, the broker said Sunday.

The buyer’s identity is confidential, said Billy Nash, of Nash Luxury at the Keyes Co.

The sale emerged through a combined online and live auction conducted by Concierge Auctions of New York and Austin. The bidding started last Tuesday and ended live at the property on Saturday afternoon. Nash said seven bidders competed for the iconic estate, whose list price was cut from $26.95 million when it first hit the market last year to $19.9 million. The property was initially represented by the Kelly Drum firm.

“We ran a process to globally market an amazing property and identify a buyer in 90 days,” said Nash, whose firm was retained by the Huizenga family in February. “The outcome was successful.”

According to a recent national survey conducted by Concierge, high-end luxury homes in Florida are remaining on the market for longer periods of time than in other areas of the U.S. The firm cited several reasons: the uniqueness of the properties, a limited supply of would-be buyers and superlative price expectations by the sellers.

A number of other properties around the region are being sold below their listing prices. But brokers say they expect buyer interest to strengthen as high-end earners in high tax states look to Florida as an alternative to locate businesses or to find new primary or secondary residences.

Huizenga, who formerly

owned the Florida Marlins, Florida Panthers and Miami Dolphins professional sports teams, was among those entrepreneurs whose families migrated to Florida to develop new opportunities and grow businesses. He founded three publicly traded companies: AutoNation, Waste Management and Blockbuster Video. Huizenga, who died in March 2018, and his wife, Marti, who died in 2017, were widely regarded in the community as two of South Florida’s most prolific philanthropists.

Dubbed Tarpon Pointe, their expansive, 20,653-square-foot home at 1575 Ponce de Leon Drive faces the New River.

The estate, which covers 1.4 acres, boasts five buildings, 10 bedrooms, a glass conservatory, guest apartment, gym, theater, billiards room and 590 feet of waterfront. It has a dock that can host yachts up to 135 feet long. The house also has several safe rooms, an elevator, wine tasting room and fish tank.

A bell tower entrance offers an accent that frequently draws the attention of tourists as they sail past the property on boat tours along the river.