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

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.