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July 29, 2010 |
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| October 08, 2008 |
By: Eric Kalis |
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fter leading the Miami Dolphins to consecutive victories, quarterback Chad Pennington could be calling South Florida home for years to come.
The Dolphins’ starting signal-caller has already put down roots, paying $3.3 million for a luxury home in the Broward County town of Southwest Ranches.
The deal closed Sept. 22 and was recorded in property records Thursday.
Pennington, who signed a two-year, $11 million contract with the Dolphins in August after playing eight seasons for the rival New York Jets, spent about $310 per square foot for a French chateau-style home at 16725 Berkshire Court in Landmark Ranch Estates, according to Broward County records. Pennington and his wife, Robin, obtained a $2.64 million mortgage from U.S. Bank.
A message left for Pennington’s agent, Tom Condon, was not returned.
Sellers Raymond Ackerman and Deyanira Ackerman bought the 2.8-acre property for $3.28 million in September 2005. Developer Landmark Custom Ranches completed the home in 2006.
Knoxville, Tenn.-born Pennington, whose full name is James Chadwick Pennington, moves into a high-end estate minutes away from the Dolphins’ training facility in Davie. The home features two kitchens, a pool and a home theater, according to agent Jean Kachik of the Weston office of the Keyes Co.
The sellers had listed it for $3.9 million.
“Chad is a very nice young man, very down to earth,” said Kachik, who has sold homes in the area for 28 years. “His profile is different from what you would expect [from a famous athlete]. He wanted occupancy very quickly, in about 30 days.”
A graduate of Marshall University known for his passing accuracy, Pennington led the Jets to three playoff appearances in six seasons. He won the 2006 National Football League Comeback Player of the Year award after overcoming a second rotator cuff surgery and guiding the Jets to the postseason.
The Jets released Pennington this summer after trading for Brett Favre. When he joined the Dolphins, Pennington was reunited with Bill Parcells, the team’s vice president of football operations. When Parcells was with the Jets, he selected Pennington in the first round of the 2000 NFL draft.
The Ackermans are searching for a new home in the area after Kachik found them a temporary residence.
Kachik said the Southwest Ranches’ housing market is relatively strong, despite the struggling economy and a depressed residential real estate market.
“This is an entirely different market” from medium- and lower-priced real estate, Kachik said. “In 2007 there were very few sales because sellers wouldn’t accept the prices being offered. Now they are being more realistic about values.”
Landmark Ranch Estates, a 5-year-old development, is about 65 percent sold, said Joseph Caprio, owner of Caprio Real Estate, which represents the developer. Construction on the 44 properties is halfway completed, Caprio said.
“We have a unique marketplace” in Southwest Ranches, he said. “We cater to the wealthy. There is still good consistency [in home sales] where we are.”
Eric Kalis can be reached at eric.kalis@incisivemedia.com or at (305) 347-6651.
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