To document the depth of the housing crisis, New Times is profiling some of South Florida's forgotten homes.
Location: In Fort Lauderdale's Las Olas Isles neighborhood. This home sits at the end of a peninsula, with beautiful canal views toward Victoria Park. With four bedrooms and more than 4,100 square feet, it's a behemoth of a home to sit vacant.
How it ended up empty: Realtor John Scalia said he isn't sure, but a neighbor told him the home had been owned by a billionaire who left it to his wife. She let the property
go into foreclosure, and now it's owned by Citimortgage.
State of abandonment: Paper covers the windows, like an upscale version of plywood. The front door is plastered with various notices. Otherwise, the home looks well maintained, even though it has sat empty for at least two years.
A roller coaster sales history: The up-and-down prices of this home are indicative of the housing bubble.
February 2011: $1,450,100
August 2006: $3,333,000
April 2003: $2,100,000
July 2001: 790,000
April 1971: $36,500
It's now listed for $1,699,000.