Mansion Along Hillsboro Mile Sells For 167 Million

Dated: January 7 2015

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A mansion sandwiched between the ocean and the Intracoastal Waterway along Hillsboro Mile has sold for $16.7 million — making it the second-biggest sale ever in Broward County.

James and Jo-Anne Campbell bought the estate at 1093 Hillsboro Mile in Hillsboro Beach, property records show. The seller, an entity tied to Boca Raton-based Mark Timothy Inc., built the home on "spec," without a buyer in place.

The 10,384-square-foot home has five bedrooms, six bathrooms and three half bathrooms, according to the listing from Premier Estate Properties. Features include a grand oval foyer, oceanfront living room with connecting formal dining room, a gourmet kitchen, a club room and library.

The home sits along 125 feet of the beach and 129 feet of the Intracoastal.

Premier Estate Properties represented the buyer and seller of 1093 Hillsboro Mile, but neither wanted to discuss the transaction, said Carmen D'Angelo, broker/owner of the firm.

D'Angelo said a lack of new oceanfront properties is driving the ultra luxury market across South Florida.

"I have people demanding new," he said. "There's nothing like the instant gratification when you buy a spec home."

"It's a prime location, an incredibly unique location," said Stephen B. McWilliam, president of Florida State Realty Group in Fort Lauderdale.

Last year, a home under construction along that same stretch — 935 Hillsboro Mile — hit the market for an eye-catching $139 million, one of the highest-priced listings in the country.

Le Palais Royal has 11 bedrooms, 17 bathrooms, 465 feet of beachfront and the first-ever IMAX theater contracted for private use, according to the Coldwell Banker listing firm.

Other features: a 492-foot dock that can accommodate a 185-foot yacht; an underground garage for more than 30 cars; a 4,500-square-foot pool; six waterfalls; and a $2 million marble staircase. The listing includes the lot next door at 939 Hillsboro Mile.

The estate is owned by a land trust whose trustee is Robert N. Jacobson, records show. The beneficiary of the trust is Robert W. Pereira, president of The Middlesex Corp., a construction company based in Massachusetts.

Coldwell Banker's William P.D. Pierce, said Tuesday the home is expected to be complete in August. There have been offers, but none coming close to the asking price. Pierce said the seller is firm on $139 million.

"It's a palace, nothing like I've ever seen before in my life," Pierce said.

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Angelo F. Terrizzi Jr.

I am a New England native, born and raised in the Boston area. Growing up, I was always involved with extra-curricular activities through school and church. I spent 30+ years in Business and later in ....

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