Orlando developer Adil Elias and his wife Aida Elias just sold their four-bedroom home in Winter Park for $4.375 million.
The 9,838-square-foot house at 115 Palmer Ave. sits on about 1.2 acres of land along the shores of Lake Maitland. The all-cash deal breaks down to about $445 per square foot.
In comparison, this year’s highest price paid for a home in Winter Park penciled down to about $683 per square foot (or $7.25 million) for a 10,613-square-foot lakefront manse at 866 Via Lugano.
Both properties feature ample frontage on Lake Maitland, where students and employees of Rollins College can be seen taking out their racing hulls through the U.T. Bradley boathouse.
Thomas Bonner with Regal Real Estate Professionals, the luxury real estate arm of Christie’s International Real Estate, had the listing.
The Bagby Team of Fannie Hillman + Associates brought the buyers, which according to a deed recorded in Orange County, are husband and wife Jim and Carole Henderson.
Jim Henderson is a co-founder, chairman and CEO of the fast-growing private insurance brokerage firm AssuredPartners, which is based in Lake Mary.
Its recent acquisition (announced today) of Indiana-based Truck Insure, Inc., marks the company’s 30th acquisition so far in 2019.
Since being established in 2011, AssuredPartners has grown to record more than $1.2 billion in annualized revenue with about 250 offices spread across the United States and London, according to its website.
The Hendersons’ new home features tall ceilings with large windows overlooking the lake and a fireplace.
One of the first noticeable features of the house is a neoclassical fountain and statues standing at its entrance. Its backyard also features similar statues as well as a pool, open porch area, outdoor shower and an enclosed boathouse that was grandfathered in.
“The lake is the jewel of the crown,” Bonner said. “It’s a draw for people who like to boat and have a drink and enjoy dinner by the water.”
He told GrowthSpotter the property has been on and off the market for several years with different agents. According to online marketing websites, it was once asking for as high as $5.75 million in 2017.
Adil Elias and his wife Aida Elias have owned the property since 1994, after paying $1.5 million to acquire the property from its previous ownership: philanthropists Peggy Crosby and her late husband, Philip, an author and businessman. It was built in 1989.
Adil Elias owns and has helped develop several projects throughout Orlando including the Volcano Island miniature-golf course on I-Drive and restaurants chains like LongHorn Steakhouse and T.G.I. Friday’s.