Steven L. Feder and Lou Thomas Trosclair , the couple that owns the Psychic Readers Network hotline, sold their waterfront mansion in Fort Lauderdale for $14 million.
The 9,320-square-foot home and the neighboring lot of 12,972 square feet at 2501 and 2507 Mercedes Drive were purchased by Dennis R. O’Neil of Fort Lauderdale.
The deal was brokered by Tim Elmes of the Elmes Group at Compass Florida.
The home last traded for $11.5 million in 2013, so Feder and Trosclair’s forecast of a gain in value proved accurate.
It was built on the 15,380-square-foot lot along the Intracoastal Waterway in 2003.
The home features five bedrooms, 7.5 bathrooms, a fitness room, a pool, a theater room, a balcony, a fireplace, and a dock.
Founded in 1993, the Psychic Readers Network was well-known for its commercials in the 1990s featuring the late “Miss Cleo” offering psychic readings over the phone. However, the company faced a lawsuit from the Federal Trade Commission over its advertising practices and eventually agreed to forgive about $500 million in consumer charges in 2002. The company remains in business. In fact, its registered address in state records is at the home at 2501 Mercedes Drive.
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South Florida’s Wealthiest ZIP Codes
Ranked by Median household income Rank ZIP Code Median household income 1 33109 $200,577 2 33158 $170,673 3 33149 $151,190 View This List
