Paul D. DeAngelo Of DeAngelo Contracting Services Acquires Two Properties From Louis Paolino Jr. For $37M
2626 Del Mar Place & 2328 Aqua Vista Boulevard
$37,000,000
$915/SF
Building Size
20,200 SF
Asset Type
Single Family
Closing
Apr 23, 2025
About this deal
AI
The transaction involved the sale of two properties in Fort Lauderdale, with a total sale price of $37,000,000. The first property, located at 2626 Del Mar Place, is a single-family waterfront mansion that spans 12,200 square feet and boasts 300 feet of waterfront access. The second property at 2328 Aqua Vista Boulevard is an 8,000 square foot home featuring 150 feet of dockage. The deal was structured as a swap between buyer Paul D. DeAngelo and seller Louis Paolino Jr.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $37,000,000
- Buyer: Paul D. DeAngelo - DeAngelo Contracting Services
- Seller: Louis Paolino Jr. - Paolino Development
- Broker Representatives: Fran McDuffie - EXP Realty; Michelle Gunter - First Ocean Realty; Tim Elmes - Compass
- Address: 2626 Del Mar Place & 2328 Aqua Vista Boulevard
- Date: 04/23/2025
- Market: Fort Lauderdale
- Acres: 1
- Square Footage: 20,200
- Price per Square Foot: $1,832
In this transaction, developer Louis Paolino Jr. sold his waterfront mansion and simultaneously acquired DeAngelo's nearby residence, resulting in a two-property swap. The deal highlights the engagement of brokers in representing their respective clients, indicating a viable real estate market in the Fort Lauderdale area.
On the Map
$37,000,000
$915/SF
Single Family
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Players
Fort Lauderdale Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93