The Real Deal Miami

California investor buys Boca Raton spec home: $6.8M

Modern home sold for $1,192 per square foot

August 09, 2016 11:15AM
By Katherine Kallergis

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Spec home at

Spec home at 2201 Spanish River Road

A company tied to a California-based investment company paid $6.8 million for a newly built waterfront home in Boca Raton.

Palm Beach County records show JH Norman Construction Co. sold the contemporary, mid-century home at 2201 Spanish River Road.

LG Hospitality LLC, a company tied to Sherwood, California-based West Coast Capital, bought the four-bedroom, 5,706-square-foot home on Boca’s “Estates Section.” It traded for $1,192 per square foot.

Brenner Architectural Group designed the home, which features floor-to-ceiling sliding glass doors, marble and wood floors, a resort-style pool and spa, and two loggias. Joseph Liguori of Premier Estate Properties represented the seller, while Premier’s Gerard Liguori represented the buyer, according to Redfin.

The buyer, a private investment firm, is led by principal Lorne Goldberg, according to the company’s website. Goldberg owns and operates a chain of quick-service Chinese restaurants.

The 14,570-square-foot property first hit the market in 2014 for $5.95 million, shortly after the homebuilder bought the Boca Raton land for $1.7 million. The price gradually increased to $6.95 million in June.

In March, Joseph Liguori also brokered the deal for another J.H. Norman home nearby at 1175 Spanish River Road. A New York ad executive paid $9.2 million, or about $1,200 per square foot, for that spec mansion.