📊 South Florida’s top deals: Businessman Peter Scannell parts with North Palm Beach home for $9M

TRD Data compiles South Florida's top transactions

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July 17, 2025 6:40pm EDT

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July 17, 2025

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FOR DATA SUBSCRIBERS | SOUTH FLORIDA TOP DEALS OF THE DAY

*Data reflects activity as of July 17, 2025, at 3 p.m. ET.*

Top Residential and Commercial Deals of the Day

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Residential Deals

🏆 The top residential real estate sale recorded in South Florida was in North Palm Beach. Peter Scannell, president of Greenwich, Connecticut-based Rockwood Service Corporation, and his wife Jean Scannell parted with a single-family home at 11426 Lost Tree Way for just over $9 million. The buyer was a trust tied to David Michael Butler. The Scannells purchased the 5,000-square-foot house in 2022 for $9 million. They put it on the market in December for $10.5 million. The home has four bedrooms and four and a half bathrooms and sits on a 0.4-acre lot. James Kenny of K2 Realty had the listing. Last year the Scannells purchased a nearly $20 million waterfront estate, which is less than half a mile away from the Lost Tree Way property.

📊 For $5.5 million, Renate Florescue, via a trust, shed a 5,800-square-foot condominium at 550 Southeast Fifth Avenue in Boca Raton. The buyer was a company tied to Ben Genet, president of Fort Lauderdale-based Genet Property Group, and his wife, Dorit Genet. Florescuem, who purchased the condo in 2021 for $4.5 million, helps run the Florescue Family Foundation, a nonprofit organization established by late investor Barry Florescue The unit went up for sale in February for $6.8 million. The deal works out to about $940 per square foot. Compass’ David Hall represented both parties in the transaction.

Explore Today’s Closed Deals

Commercial Deals

🏆 The top commercial real estate deal recorded in South Florida was in West Park. Interstate Development Partnership LP sold six warehouses at 5801-5897 Southwest 21st Street, 5901-5981 Southwest 21st Street and 2100 Southwest 59th Avenue for $47.3 million. The buyer was Boynton Beach-based Hersh Equity. Adam Weiss of Weiss Law represented the buyer and Berger Commercial Realty’s Jordan Beck brought the buyer. The transaction was off market.

📊 In Hialeah, Boston-based TA Realty offloaded a 73,000-square-foot industrial warehouse at 2500 West 84th Street for $47 million. The buyer was a company managed by Paola Gutierrez. The property houses a Sherwin Williams paint store. TA Realty recently purchased another South Florida industrial property from Blackstone and Link Logistics.

📊 In North Miami, an industrial property traded hands for $21.4 million. The seller of the property at 13251 Northeast 17th Avenue was a company led by Peter Manno and Eileen Manno Caballero. The building spans about 94,000 square feet. The buyer was LFR3 MIA 17th Ave LLC.

Explore Today’s Closed Deals

By the Numbers: U.S. Home Foreclosure Rate Rises to Five-Year High

Residential mortgage foreclosures are up across the country so far this year, new data show.

Foreclosure filings in the first half of the year rose 6 percent from of 2024 to about 188,000 filings, according to a report from ATTOM Data. That’s the highest amount since 2019.

In Florida, about 20,700 properties showed new foreclosure activity in the first half of the year, up more than 3 percent compared to the same period of last year. The Sunshine State’s foreclosure rate of 0.21 percent is the fourth-highest in the country.

The Miami-Fort Lauderdale-West Palm Beach area saw about 5,800 new filings in the first half of the year, up nearly 2 percent, year-over-year. The foreclosure rate in that region is 0.22 percent.