A Phoenix auto magnate bought a waterfront Fort Lauderdale house for $9 million.
Face Canyon, LLC, tied to Bill Coulter, bought the 6,995-square-foot house at 1 Pelican Drive for $1,286 per square foot, records show. James and Jane Slattery sold the home.
The house has five bedrooms and five bathrooms. The gated property features a saltwater pool and mega-yacht dockage.
The property last sold for $5.5 million in 2012, records show. The house was built in 2016.
Tim Elmes and Addison Ruff of Compass represented the seller, while Kelly Drum of Drum Realty represented the buyer.
Coulter leads Phoenix-based Coulter Automotive Group, which was founded in 1923 and was awarded the first Cadillac franchise in Arizona, according to its website. Coulter is the third generation member of the Coulter family to run the company, which has Cadillac, GMC, Buick, Infiniti and Nissan dealerships in the Phoenix area.
Fort Lauderdale’s luxury home market has seen steady activity during the pandemic. This week, a management consultant bought a waterfront house in Fort Lauderdale’s Sunrise Intracoastal neighborhood for $6.8 million.
In June, Greek foods CEO Peter Parthenis Jr. paid nearly $9 million for a mansion at 650 Royal Plaza Drive in Fort Lauderdale’s Las Olas Isles.