Belleair Shores teardown sells for $9.5 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Mar 20, 2024

A Belleair Shores home on the Gulf of Mexico has sold for $9.5 million to a buyer who intends to demolish it.

Jack and Kathy Shields closed on the home on Wednesday, said Allan Mezrah of the Toni Everett Co. Mezrah represented the Shields in the transaction. Jack Shields is co-founder of Massachusetts-based Shields Health Solutions. He is the founder and co-chairman of Waterline Ventures LLC, a health care venture capital firm.

The seller was a trust linked to St. Petersburg's Sembler family, according to Pinellas County property records. Brandy and Garret Jagdmann of Engel & Völkers Belleair represented the trust. St. Pete business magnate Mel Sembler, founder of an eponymous real estate development firm, died in November at age 93.

The home was built in 1979, Pinellas County property records show.

"This unique parcel boasts over an acre of land, featuring 160 feet of stunning, unobstructed Gulf Views on a private beach," Mezrah said in a statement. "The buyers envision building a custom-designed home on this remarkable site, intending to create a cherished retreat for their family to enjoy for generations."