Circle S Farm in Southwest Ranches back on the market: $14M

Circle S equestrian estate in Southwest Ranches
A 48-acre estate once home to Kentucky Derby winner Spendabuck will hit the market soon for $14 million, about $6 million less than its auction price last summer.
Aerial view (click to enlarge)
Circle S Farm, a premier equestrian training and breeding farm in the town of Southwest Ranches, was once listed for sale for a whopping $35 million in 2013 with Coldwell Banker Residential Real Estate. It then hit the auction block starting at $19.7 million in June, and now listing agents David Meisner and Barak Amram of Keller Williams and Prestige Waterfront Realty will put it on the market this week for $14 million.
The property includes two single-family homes, staff quarters and two studio apartments, three barns, 89 stalls, a four-furlong racetrack, an equestrian pool, a surgery room, round pens and two padded recovery stalls. The farm, at 15990 Griffin Road, was built in 1970 and features nine bedrooms and six bathrooms, Broward County property records show. It’s located off of I-75 near Weston, and is surrounded by developed land.
“We are currently marketing to buyers in the equestrian community given the current use of the property, as well as land developers given the property’s prime location,” Meisner told The Real Deal. He said it is one of the last contiguous parcels of land in the area. Now, he said it is more aggressively priced.
The owners, Ralph and Betty Sessa, acquired the parcels in the 1970s. Last year, former listing agent Giselle Bonetti said the owners’ children are selling the farm, which is fully staffed during high season. Meisner said the facility is at full capacity for about five to six months out of the year, with jockeys from Gulfstream Village and surrounding tracks.
In South Florida, the equestrian community calls Wellington, Davie, Homestead and Kendall its home, in addition to Southwest Ranches.

Source: The Real Deal Miami

Financier pays $9M for beachfront Delray manse

The home at 410 North Ocean Boulevard (Credit: Seaside Builders)
Four years ago, financial guru Donald Uderitz sold his sprawling beachfront estate in Delray Beach to comedian Kevin James for $18.5 million.
Now, he’s buying back into the neighborhood in a big way. Uderitz just put down $9.15 million for a manse right next his old property.
Included in the deal was a seven-bedroom, eight-bathroom home located on just under an acre of oceanfront turf at 410 North Ocean Boulevard. Its style is Mediterranean Revival with features like arched windows, a brick motorcourt, exposed ceiling beams and plush interior finishes.
The 10,461-square-foot mansion was most recently owned by Brian and Brandi Sodi, who paid $6.775 million for it on 2011, according to Palm Beach County property records. Brian Sodi is the owner of Capital Financial Media, a public relations firm based in Delray that handles corporate advertising.
After owning the estate for only five years, the Sodis have sold it to Uderitz in an off-market deal for about $874 per square foot — a 35 percent gain in price over what they originally paid.
Uderitz is the chairman of Vantage Capital Group, a financial firm with three branches: investment banking, investment advising and brokering the trading of financial products.
Back in 2005, he paid just less than $5 million for 1.8 acres acres of prime waterfront land at 502 North Ocean Boulevard. Then in 2008, he built a massive 26,000-square-foot estate that boasts eight bedrooms, 10 bathrooms and a host of luxury interior finishes.
After four years, he sold the castle-like residence to a trust affiliated with actor Kevin James of “Paul Blart: Mall Cop” fame for $18.5 million. James later added on a neighboring vacant lot for $4.25 million, bringing the property’s title size to 2.7 acres. He’s now trying to sell the estate for nearly $29 million.

Source: The Real Deal Miami

Five agents leave Elliman for ONE Sotheby’s, including one boomerang hire

Joelle Oiknine, Oliver Ruiz, Betsy Lee Turner, Avidan Edelsberg and Sandra Osorio
Competitors Douglas Elliman and ONE Sotheby’s International Realty have been hiring each other’s agents and executives for months, with the latest round leaving Elliman.
ONE Sotheby’s brought back Joelle Oiknine as a global real estate adviser and agent. Oiknine told The Real Deal she left the Miami-based firm after about five years for Elliman in January, only to return last week. Betsy Lee Turner, Sandra Osorio, Avidan Edelsberg and Oliver Ruiz also joined ONE Sotheby’s.
Oiknine declined to disclose why she left Elliman, but said it wasn’t the right fit for her. “I felt comfortable [at ONE Sotheby’s]. I’d been a top 10 agent with them and they treated me like a top 10 agent,” she said.
Turnover is common in the industry, where about two weeks ago Elliman announced it hired seven former ONE Sotheby’s agents to join the company’s new Coconut Grove office. Those agents told TRD that Douglas Elliman will provide them with the support to grow.
ONE Sotheby’s President Daniel de la Vega said that the recent hires are a net gain for the company based on sales production. While ONE Sotheby’s brought on fewer hires in recent months than Elliman, those agents have a higher sales production, he said.
Avidan Edelsberg was brought on to expand the firm’s commercial division. He was a commercial adviser at Douglas Elliman and is now a senior commercial adviser at the Miami-based firm. Edelsberg told TRD he felt stagnant in his previous role, where he completed $80 million worth of transactions in 2015. At ONE Sotheby’s, he is focusing on creating momentum within the commercial division, especially with the multifamily and office sectors of the market.
Sandra Osorio was a producer at Elliman, where she closed about $10 million in sales last year. She is now a sales associate at ONE Sotheby’s, according to a company bio.
Oliver Ruiz, now a senior global real estate adviser at ONE Sotheby’s, was a managing broker at Elliman, and opened the firm’s Brickell, Fort Lauderdale and Boca Raton offices. He has also worked at Fortune International Realty and Engel & Voelkers, where he expanded both brokerages.

Source: The Real Deal Miami

PHOTOS: On the scene at Habitat’s Blitz Build 2016

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MV Group partnered with Habitat for Humanity of Greater Miami for its Blitz Build event.
MV Construction Group, a full-service construction company based in Miami, sponsored the construction of a home for a Habitat family in southwest Miami-Dade. Blitz Build is an accelerated program where 10 Habitat for Humanity homes are built in a two-week period.
The development company, led by Manny Varas, is behind a new mixed-use project in Miami’s Design District. Varas broke ground on the Mediterranean-style building, at 4136 North Miami Avenue, in August. – Katherine Kallergis and Sean Stewart-Muniz

Source: The Real Deal Miami

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