A Fort Lauderdale, Florida, home with 375 feet of total water frontage will hit the market mid-August for $10.8 million.
This is the second time the property will appear on the market this year, according to public listing records. After being listed two separate times, real estate magnate Roger Norman purchased the 8,812-square-foot home last February in a no-reserve auction for $8.085 million, according to property records.
Listing agent Josh Dotoli of Compass’s Josh Dotoli Group said Mr. Norman purchased the waterfront mansion as an investment and plans to continue investing in Fort Lauderdale property.
The home was last listed in July 2018 for $12.995 million and went to auction at the end of January. It had also been listed in 2011 for $7.895 million, according to public listing records.
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Since purchasing the six-bedroom house five months ago, Mr. Norman has completely redone the home’s interior, including putting in new flooring and furnishing the house. The roofing and air conditioning were updated as well.
“If you look at old photos, it’s incredible that it’s even the same house,” Mr. Dotoli said. Located in Fort Lauderdale’s affluent Seven Isles neighborhood, the property sits on a point lot along the intracoastal. The home has 220 feet of side water frontage—equipped with a dock—and an additional 155 feet of waterfront in the front of the lot, Mr. Dotoli said. The property also has a detached one-bedroom apartment, which Mr. Dotoli said can serve as a captain’s quarters, and a heated pool, according to the listing. It’s also only a mile from Las Olas Beach.
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Mr. Norman choosing Fort Lauderdale for his latest house-flipping project is a sign of the coastal city’s growing popularity, Mr. Dotoli said. “It’s become such a destination—before, it’d taken a backseat to Miami, but now it’s pulling ahead in the race for the South Florida buyer,” he told Mansion Global. “It has affordability, close proximity to the airport and one of the largest cruise ports. It’s a friendly town and a boater’s paradise.”
Mr. Norman, 80, is most known for developing the Tahoe Reno Industrial Center in Reno, Nevada, whose clients include Google, Tesla and Walmart. Mr. Dotoli said he splits his time between his homes in Reno and California.
Mr. Norman could not immediately be reached for comment.