Local multifamily developer exec pays $4.39M+ for Park Avenue home

A principal in one of Orlando's largest multifamily development firms paid more than $4.39 million earlier this month for a home on Winter Park's exclusive Twelve Oaks peninsula, ranking as the sixth highest home sale price in Orange County this year. 

Located in the 1200 block of N. Park Avenue, the 0.82-acre lot fronts Lake Maitland, and features a 17-year-old home with 6,564 square feet of conditioned area across two floors, five bedrooms and six-and-a-half baths. 

Floor-to-ceiling windows cover much of the home. Outside is a 72-foot-long negative edge swimming pool with separate heated spa, outdoor kitchen, dog run, lake-side exercise and billards studio and six garage spaces, according to a listing online.

Listed for more than a year, the sale closed on Nov. 1 and was recorded Friday in Orange County.

The buyers were Paul M. and Layne M. Missigman. Paul is a principal in Atlantic Housing Partners, a multifamily developer responsible for market-rate and affordable apartment projects across Greater Orlando, including the 256-unit mixed-income "Amelia Court" project in Creative Village that should break ground in January.

The Missigmans have owned and occupied a 5,002-square-foot home on Genius Drive in Winter Park since 2007. That property has yet to be advertised for sale online. 

The seller was a personal trust of Alan M. Cohen, who originally paid $1.155 million for the property in 1998, prior to construction. He later bought a smaller neighboring lot in 1999 with a detached in-law suite, and maintained both as one estate for many years. 

The entire property was listed at first in 2016 for $7.9 million, but after a few months they were re-listed separately and began to draw interest, said John Pinel, co-listing agent with Mick Night of Coldwell Banker Residential Real Estate in Winter Park. 

This home's sale price ranks among the top 10 this year in Orange County. The highest sale came in February at $11 million for the former Judy and Wayne Heller home in Winter Park, according to Florida's MLS. 

Dean Price, general counsel and real estate broker for Atlantic Housing Partners, represented Missigman in the deal. 

Editor's Note: This story was updated Tuesday morning to correct the sale price listed, from $4.89 million to $4.39 million.

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