A veteran local commercial real estate developer paid $1.05 million on Tuesday for a prominant home in Orlando's Baldwin Park.
Located on Fern Avenue in the first section of Baldwin Park, the home features 9,472 square feet over two stories with five bedrooms and 5.5 baths. The home is a 10-minute walk (0.5 miles) to the waterfront commerce area.
The buyer was Michael A. Collard, president of Michael Collard Properties, who has more than 30 years in real estate development across Florida, primarily in retail shopping centers.
Built in 2005, the Cambridge-built manor home features a downstairs master suite and separate office, front porch with park views, wine cellar, brick paver-covered lanai, oversized spa and cabana with gas fireplace.
Collard's outgoing home, owned since 2013 with 4,700 square feet on Glencoe Road in Winter Park, was recently listed for rent on real estate websites.
The sellers were Gerald "Jerry" Hilbrich and wife Peggy, who previously paid $903,900 for the home in 2005 when it was built.
Now retired, Jerry served as chief financial officer of the Catholic Diocese of Orlando from 2000 to 2008, and was an area managing partner and member of the board of directors at KPMG for more than 32 years.
The Hilbrichs wanted to downsize in their retirement years, and in late June paid $1.275 million for a 4,090-square-foot condo unit at "The Residences" on S. Interlachen Avenue in Winter Park.
"Our children and family are all out of state now, so we really wanted the condo lifestyle where we didn't have to bother with" yard work and another responsibilities of a single-family home, Peggy Hilbrich told GrowthSpotter, noting they moved in just a few days ago.
Jan Walker of Premier Sotheby's International Realty served as listing agent for the Hilbrichs on their Baldwin Park sale, and represented them as buyers in Winter Park.