Smart Home Honcho Buys Waterfront Fort Lauderdale Home

Mark Farbstein of Premium Digital Control and Automation and Dylan Hallerberg of Fortress Anchors at 52 Royal Palm Drive ( LinkedIn , Google Maps )

The CEO of a home automation company has bought a waterfront home in Fort Lauderdale for $9.7 million.

Records show Mark Farbstein bought the home at 52 Royal Palm Drive from Dylan Hallerberg. Farbstein is the CEO of Premium Digital Controls and Automation, a Hollywood company specializing in digital control systems for homes and businesses.

Hallerberg is the third generation to run Fort Lauderdale-based marine anchor manufacturer Fortress Anchors.

Stephen Romaniello of Florida Luxury Properties was on the list. Farbstein's sons Max and Ryan Farbstein of Douglas Elliman represented the deal.

Hallerberg bought the nearly 7,000-square-foot home last March for $6.8 million, records show. According to Romaniello, the newly constructed five-bedroom, five-bathroom home received a certificate of occupancy in late 2020. The 0.3 acre lot has 100 feet of waterfront.

Romaniello said the seller didn't spend as much time in Florida as originally planned and wasn't interested in renting out the house.

"He didn't want the property to be vacant. He was taking advantage of the boom in the market," Romaniello said.

According to Romaniello, Hallerberg sold the house for $8.7 million and added another $1 million for furnishings.

The sale comes just as agents are gearing up for the busy winter season. Despite rising mortgage rates and a slowdown in the market due to the Covid frenzy, Romanello says rates are strong.

"There's quite a bit more inventory, all at a competitive price," he said.

Many record sales took place in Fort Lauderdale during the summer months. A waterfront property set a new price record in Broward County in July, closing for $28.5 million. A month later, this record was broken by another waterfront property that sold for $32.5 million.