facebook
Traded Co logo
Submit
Daily limit: 0/10

Scott D. Levine Of Sibchau IV LLC Acquires Oceanfront Land From ChenMed In Hillsboro Beach For $19.5M

Property Image
SOLD
$19,500,000

Florida

See Similar Deals
Land
Sold 04/03/2025
the dealplayerscompscontact
Property Image
SOLD

Scott D. Levine Of Sibchau IV LLC Acquires Oceanfront Land From ChenMed In Hillsboro Beach For $19.5M

997 Hillsboro Mile

See Similar Deals
Land
Sold 04/03/2025
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Land
Transaction Type:Sale

A 1.1-acre oceanfront lot located at 997 Hillsboro Mile in Hillsboro Beach was sold for $19.5 million. The property encompasses 160 feet of oceanfront and includes a 100-foot dock. The price translates to $408 per square foot amidst strong demand for waterfront lots.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $19,500,000
  • Buyer: Scott D. Levine - Sibchau IV LLC
  • Seller: Dr. James Chen, Mary Chen, Dr. Christopher Chen & Dr. Gordon Chen - ChenMed
  • Broker: Jared Dunson - SOFLO Homes
  • Lot Size: 1.1 acres
  • Market: Hillsboro Beach

The Chen family, founders of ChenMed, realized a profit from the sale after purchasing the land for $13.975 million in 2021. This transaction highlights the continued demand for rare waterfront properties in the region.

Players

Jared Dunson
SOFLO Homes
Jared Dunson
1 deal$19.5M volume(954) 376-0188
BROKER

Details

SOLD
IMAGE: Jared Dunson, Mary Chen, Dr. Christopher Chen, Dr. James Chen & Dr. Gordon Chen DATE: 04/03/2025 ADDRESS: 997 Hillsboro Mile MARKET: Hillsboro Beach ASSET TYPE: Land ~ ACRES: 1.1 BUYER: Scott D. Levine - Sibchau IV LLC SELLER: Dr. James Chen, Mary Chen, Dr. Christopher Chen & Dr. Gordon Chen - ChenMed BROKER: Jared Dunson (@JaredDunson) - SOFLO Homes (@SOFLO.Homes) SALE PRICE: $19,500,000 NOTE: The Chen family, founders of ChenMed, sold a 1.1-acre oceanfront lot in Hillsboro Beach for $19.5M to Sibchau IV LLC, netting a profit after buying it for $13.975M in 2021. The rare property spans 160 feet on the ocean, includes a 100-foot dock, and sold for $408/SF amid strong demand for waterfront lots.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,039,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38