Fort Lauderdale just witnessed the sale of a stunning mansion for a jaw-dropping $70 million, setting a new record as the city’s most expensive transaction. The twist? Much of the estate is slated for demolition to make room for an even more modern masterpiece.

The 22,048-square-foot estate, situated on a sprawling 2.7-acre lot with over 1,000 feet of waterfront, was purchased by a Delaware-registered company tied to a luxury construction firm based in Deerfield Beach.

This estate is no stranger to the spotlight. The trust that owned the property purchased it from a well-known attorney in 2015 for $27.5 million. Over the next two years, the estate was expanded by acquiring two adjacent lots for a combined $14.2 million, adding a guest house to the property. The mansion, built in 2006, boasted six bedrooms, 11 bathrooms, multiple pools, a tennis court, a seven-car garage, a fitness room, and a home theater. The guest house, added in 2017, features four bedrooms, 4.5 bathrooms, and a three-car garage.

In a bold move, the new owner plans to tear down the main mansion to make way for something even grander, leaving only the guest house intact. Elmes believes this sale will further elevate Fort Lauderdale’s appeal as a premier destination for luxury homes. The seller, a veteran in the finance industry, is also known for their philanthropy and has served on the board of prestigious institutions.

What do you think about this jaw-dropping sale and the plan to tear down a $70 million mansion? It seems Fort Lauderdale’s luxury real estate market is only heating up, and we can’t wait to see what’s in store for this prime piece of waterfront property!