Dov Stark's $51M Sunrise Intracoastal Spec Mansion Under Contract

Dov Stark’s spec mansion at 513 Middle River Drive in Fort Lauderdale’s Sunrise Intracoastal neighborhood is under contract for $51 million, according to The Real Deal. Stark, founder and CEO of Prestige Homes Development, designed, built and listed the 15,000-square-foot home, known as Ember House, on land he bought for $5.5 million in 2024. Construction alone ran more than $35 million. The buyers are unidentified and represented by Joelle Oiknine of One Sotheby’s International Realty. The deal, expected to close in January, would rank among the priciest home sales in Fort Lauderdale’s history.

Why it matters

This is the spec math that determines whether builders keep chasing Broward’s ultra-luxury tier or pull back to the $20 million to $30 million band that has actually been trading. Stark listed the six-bedroom, 11-bath house for $55 million in June, the highest-priced residential listing in Broward County at the time. Going under contract at $51 million is a roughly 7 percent cut from ask, landing on a price still nearly $16 million above Stark’s combined land and construction cost of about $40.5 million. For agents advising developers on whether nine-figure land assemblages and $35 million builds still pencil in Miami’s broader luxury corridor, the signal is that the spread survives a real negotiation, even if the headline ask does not hold.

The numbers

Stark bought the 145-foot waterfront lot in 2024 for $5.5 million and spent roughly 15 months building the three-story house, which includes an 80-foot infinity pool, a rooftop pickleball court and an eight-car automotive gallery. Construction costs exceeded $35 million, putting his all-in basis near $40.5 million against a $51 million contract price. It is Stark’s second Middle River Drive spec sale; his prior project at 733 Middle River Drive sold for $29.5 million in 2023 on a $4 million land buy and roughly $20 million in construction.

What’s next

The deal is not closed, and no closing price has been disclosed beyond the reported $51 million contract figure. Both sides are working toward a January close. Brokers should watch whether the sale, once recorded, actually sets a Fort Lauderdale residential record, and whether Stark’s next listing, a project he has previously said is priced near $50 million, tests the same ceiling again.