Brent A. Braun Trust Acquires Property In Fort Lauderdale For $6.5M With Brian Heron As Seller's Rep

A waterfront lot located at 1712 SE 12th Ct, Fort Lauderdale, FL has been sold for $6,500,000. The lot encompasses a size of 24,300 square feet and is situated in the Fort Lauderdale market. This transaction marks a noteworthy point, being a record for single-family land sales since 2015. The property was originally listed for just under $10 million, with the asking price subsequently reduced to nearly $9 million before finalizing the sale at a 36 percent discount off the original price.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $6,500,000
• Address: 1712 SE 12th Ct, Fort Lauderdale, FL
• Market: Fort Lauderdale
• Buyer: Brent A. Braun Trust
• Seller's Representative: Brian Heron, One Sotheby’s International Realty
• Buyer's Representative: Jim Morlock, Fidelity Real Estate
• Land Size: 24,300 square feet
• Price per Square Foot: $268
• Seller: Lay & Lay Ltd., tied to Kurt S. Lay of Switzerland
• Buyer Plans: Building a new home with the capacity to accommodate a mega yacht

The deal involved Brian Heron representing the seller and Jim Morlock representing the buyer. Lay & Lay Ltd., a British Virgin Islands company, sold the property, which had previously been acquired for a total of $3.03 million in past transactions. The buyer, associated with mobility industry pioneer Ralph Braun, intends to construct a new residence on the property, which is located on the Intracoastal.