Boca Raton home up for sale at $7.4M

Home was built on spec in 2013

TRD MIAMI /
Apr.April 14, 2015 02:00 PM

A home on the Intracoastal Waterway in Boca Raton, owned by a telecommunications magnate, was just listed for sale at $7.4 million.

Located at 2741 Spanish River Road, the 5,553-square-foot estate was built on spec in 2013 by local homebuilding firm Mark Timothy. It was designed by Affiniti Architects and is being sold fully furnished with interiors designed by Marc-Michaels.

Kathy Green and Nancy Gefen of Nestler Poletto Sotheby’s International Realty are marketing the home. The agents declined to name the seller

Green told The Real Deal that her client purchased the estate soon after it was built.

“It’s a great price for the house,” she told TRD. “It’s a contemporary masterpiece.”

Mark Timothy bought the vacant property for $1.26 million in September 2012 under an LLC titled 2741 Spanish River Road, according to Palm Beach County property records.

The home was finished the next year and was purchased by telecommunications executive Alex Gellman for $4.8 million in December 2013.

Gellman is the former president and chief operating officer of Global Tower Partners, a telecommunications tower company that was purchased for $3.3 billion by the American Tower Corporation in 2013, according to the South Florida Business Journal.

The Journal described GTP as one of the fastest growing technology firms in the country. It was headquartered in Boca Raton before the buyout.

Gellman is now the CEO of Vertical Bridge, a newly founded communications tower company that has reportedly picked up a series of cell tower portfolios totaling for several hundred million dollars.


Related Articles

arrow_forward_ios
311 East Key Palm Road, Mark S. Cosby (Credit: Google Maps)

Former CEO of Michaels sells Boca Raton mansion for $10M

Former CEO of Michaels sells Boca Raton mansion for $10M
John Pulichino and Joy Tong, 3621 Princeton Place (Credit: Google Maps)

Luggage designer sells waterfront Boca Raton mansion for $6M

Luggage designer sells waterfront Boca Raton mansion for $6M
Investments Limited’s James Batmasian and clockwise from top left: 22797-22749 State Road 7, Boca Raton; 601 Fairway Drive, Deerfield Beach; 23123 South State Road 7, Boca Raton; 22973-23071 South State Road 7, Boca Raton (Credit: Google Maps)

Investments Limited scores $67M loan for 13 SoFla properties

Investments Limited scores $67M loan for 13 SoFla properties
Richard Paul Richman, founder and chairman of the Richman Group and 9260 Boca Vue Drive in Boca Raton (Credit: Google Maps)

Richman scores $57M loan to build apartments on Boca Raton golf course

Richman scores $57M loan to build apartments on Boca Raton golf course
Office Depot CEO CEO Gerry Smith and 6600 North Military Trail (Credit: Google Maps)

Office Depot snags $118M refi for Boca Raton HQ

Office Depot snags $118M refi for Boca Raton HQ
Beth Butler of Compass, 101 Renaissance Centre (Credit: Google Maps)

Compass plans to open new office in downtown Boca Raton

Compass plans to open new office in downtown Boca Raton
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
1717 Sabal Palm Drive, Steve Calkins (Credit: Premier Estate Properties/Youtube, and LinkedIn)

Former Office Depot exec sells Boca Raton home for $6M

Former Office Depot exec sells Boca Raton home for $6M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...