David Cassidy’s Fort Lauderdale home sold for $1.8M
Home was auctioned as part of divorce settlement
September 10, 2015 03:00PMBy Sean Stewart-Muniz
David Cassidy and his home at 1600 South Ocean Drive in Fort Lauderdale (Credit: Nick Madigan)
The Fort Lauderdale home of David Cassidy, a 1970s-era teenage heartthrob who fell on hard times in recent years, has been sold at auction for $1.8 million.
Ryan Julinson, a representative of the Fisher Auction Company which handled the sale, confirmed to The Real Deal that a winning bid of $1.8 million was submitted on the home Wednesday.
Now, Julinson said, the bid is subject to approval from the bankruptcy court at a hearing next Wednesday. If approved, Cassidy’s home of 14 years will be sold to an as-yet unknown buyer.
Cassidy, who rose to fame during his tenure on “The Partridge Family,” willfully gave up his assets as part of a Chapter 11 bankruptcy filing that came about during his divorce with wife Susan Shifrin.
The couple first bought the home at 1600 South Ocean Drive in 2001, paying $1.1 million for the nearly half-acre property. They fixed up the 6,500-square-foot home in 2002, so much so that it needed a new certificate of occupancy.
After trying to sell the house unsuccessfully at $4.5 million and later $3.9 million, the singer and actor decided to file for bankruptcy and put the home — and most of its contents — up for auction.
The Wednesday auction saw four bidders register to try and vie for the home, Julinson told TRD. As previously reported in TRD, bidders had to prove they had at least $3 million in the bank to qualify.
The final, winning bid was $1,855,000. Andrea Harrington, a Realtor with Century 21 Hansen Realty, represented the winner.
Harrington declined to name her client to TRD, but did say that he is a real estate investor. He may rent out the property initially, or just flip it immediately.
Cassidy has had a rough few years, with multiple drunk driving arrests since 2010 and outstanding debts pushing $350,000 from creditors like Wells Fargo, American Express and Citi.
Despite this, Francis D. Santos, executive vice president of the Fisher Auction Company, told TRD during a tour of the property in August that Cassidy is not broke.
“There is a mortgage on the property,” Santos said at the time. “In lieu of dealing with the bank, he chose to deal with the court. Even billionaires file for bankruptcy — you get rid of your bad debt and you keep the good debt.”
Source: The Real Deal