Luxury car dealer Michael Cantanucci paid $170 million for a beachfront estate in Palm Beach, setting a record for the island’s single-family home sale.
Sources tell Green Mountain Coffee Roasters founder Bob Stiller and his wife Christine are selling their 1.6-acre property at 589 North County Road The real deal. this wall street journal Cantanucci is the buyer, the report said.
The 20,195-square-foot mansion was built in 2006 and expanded in 2015. It has 10 bedrooms, 11 full bathrooms and 7 half bathrooms, as well as a swimming pool and summer kitchen.
Records show the Stillers paid just $25 million for the property in 2014. In addition to Green Mountain, Stiller also founded a rolling paper brand called EZ Wider in the early 1970s.
Cantanucci owns New Country Motor Car Group, which bills itself as one of the largest independent car dealerships in the country. It has sites in New York, Connecticut, Florida, Maryland and Pennsylvania. It sells cars from Audi, BMW, Ferrari, Lexus, Maserati, Porsche, Mini and other manufacturers.
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Over-the-counter deals add more rocket fuel Palm Beachof the ultra-luxury market, despite a slowdown in sales numbers across South Florida. No matter what happens in the general market, it will usually trade at this price.
Lawrence Moens Lawrence A. Moens Associates represented the seller and Christian Angle of Christian Angle Real Estate represented the buyer.
The property sits just north of billionaire Nelson Peltz’s nearly seven-acre estate.
$170 million sale just shy of statewide record set by billionaire Larry Ellison’s $173 million acquisition A seaside estate in Manalapan last year.also surpassed the billionaire William Lauder’s $155 million takeover A waterfront compound at 1495 North Sea Drive in Palm Beach, widow of the late conservative radio host Rush Limbaugh sold in february.
At least two beachfront estates are trying to break all those records. Spec home developer Todd Michael Glaser and his partners are asking $218 million for 10 Tarpon Isle, a private island in Palm Beach.Lauder, executive chairman of The Estée Lauder Companies, lists two adjacent vacant Palm Beach parcels $200 millionWith Jim McCann of Premier Estate Properties.
