4.1 Acre Paradisio Del Mar Estate Sells for $20.45M in Lantana, FL (PHOTOS)

4.1 Acre Paradisio Del Mar Estate Sells for $20.45M in Lantana, FL

SOLD | Built 1989 | 12,181 Sq. Ft. | 9 Beds | 11 Baths | 4.1 Acres
1960 S Ocean Boulevard, Lantana, Florida, United States, 33462
A 4.1 acre ocean and lakefront property known as Paradisio Del Mar has sold for $20.45 million in Lantana, Florida. Built in 1989 and later renovated, the three-storey, 12,000 square foot residence includes 9 bedrooms, 9 full and 2 half baths, large formal rooms including a 1,100 square foot living room, cathedral and vaulted ceilings and a panelled library. The property was previously owned by William T. Gerrard, an entrepreneur who founded eight successful businesses, including Advanced Radio Communications Services Inc., according to South Florida Sun Sentinel. Gerrard purchased the property in 1994 and later acquired land to the north and south. The ocean-side property has two acres of sand dunes, a private beach and cottage. South Florida Sun Sentinel also revealed that there is a tunnel connecting both properties, running beneath A1A for beach access. The property was first put on the market in 2010 for $35.9 million and by 2018 had dropped to $26.6 million. It was then auctioned by DeCaro Auctions later that year and sold for $13.5 million. It was put back on the market in December 2018 for $26.6 million and just sold for $20.45 million. Additional amenities include a private waterfront dock with 350-feet of frontage with direct access to the Island waters and open access to the ocean within minutes. The dock is suitable for over a 100-foot vessel, there’s also a hoist/davit for large vessels and availability for electricity, water and fuel. The property was on the market for $24.5 million with Steven Presson of The Corcoran Group.

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