H. Wayne Huizenga's Riverfront Estate in Fort Lauderdale Hits the Market
The late entrepreneur's home already has been listed with a $27 million asking price. Also, a live online auction is to take place in late March.
February 21, 2019 at 01:12 PM
3 minute read
The expansive Fort Lauderdale estate of the late H. Wayne Huizenga, the entrepreneur who owned several Fortune 500 companies, is for sale. Prospective buyers can bid on the 1.41-acre property along the New River during a live online auction from March 26 to March 28. Alternatively, a buyer can make an offer now as the property already has been listed on the market with a $27 million asking price. The estate at 1575 Ponce De Leon Drive has been noted for the amount of river frontage it offers. "There's not a lot of property in South Florida that can accommodate a 135-foot yacht and then have more than 425 feet of waterfront leftover," said Billy Nash, who is marketing the property on behalf of the Huizenga family. Huizenga Holdings Inc. owns the estate through a land trust. The 20,653-square-foot estate has 10 buildings, including the main house and a house for staff, and amenities that include a resort-style pool, a three-story gazebo that has a curved staircase, a gym, a theater and a billiards room. Some of the buildings already were there when Huizenga bought the property, and he also had some work done to customize it for himself, said Nash, founder of The Keyes Co.'s Nash Luxury, which markets ultra-luxury Florida estates. "But the new owner can be creative. It's really up to the imagination of whoever the buyer is to do whatever he likes with the existing structures," added Nash, who is based in Palm Beach Gardens. The Mediterranean-style estate has cathedral ceilings, custom ironwork and finishes, and floor-to-ceiling windows and a grand foyer with a crystal chandelier. The online auction, which will have no purchase price floor, will be held through New York and Austin-based Concierge Auctions LLC, which auctions luxury residential real estate primarily online. The auction house runs a competitive process, and both domestic and international interest is expected in Huizenga's estate, Nash said. This means that any offer submitted before the auction has to give the seller enough confidence that it won't be beat at the auction. "That's the decision that I would make along with the family," Nash said, adding that a strong enough offer would cancel the auction. Huizenga started his entrepreneurial career in his 20s with a garbage collection business that he and a business partner eventually grew into Waste Management Inc. In the 1980s, the billionaire led Blockbuster LLC and sold the video-rental company in the 1990s. At various points in his career, Huizenga also co-owned the Miami Dolphins, the Florida Marlins (now the Miami Marlins), and the Florida Panthers. Huizenga died in March 2018 from cancer at the age of 80.
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