Family’s Palm Beach home deal could be worth $55M
Palm Beach’s Vecellio family has a penchant for high-end real estate that may be paying off big in the form of a $55 million deal.
Just this month, Christopher and Tara Vecellio paid $11.5 million for 196 Via Del Mar in Palm Beach. And in June, Michael Vecellio, Christopher’s brother, paid $6.5 million for a seven-bedroom house at 112 Via Palma in the Estate Section.
Meanwhile, public records have connected Christopher and Michael’s parents, Kathryn and Leo Vecellio Jr., to a $25.46 million deal at 120 Jungle Road, a 1922 house that sold in March. The house was sold by a Florida limited-liability company controlled by Midwest car dealership owner Mark R. Brentlinger, and the buyer was recorded only as Jungle Road LLC. And the Vecellio’s brokers are also the listing agents.
And in 2008, the family paid $42.5 million for 589 N. County Road. It looks as though Robert Stiller, the CEO and chairman of Green Mountain Coffee Roasters, has taken possession of the property in a quiet deal that went down earlier this year, according to the Palm Beach Daily News.
That deal was likely worth between $50 and $55 million and was an internal transfer of ownership within a limited liability company rather than an outright sale. [Palm Beach Daily News] – Christopher Cameron